ONTARIO, CANADA - Ontario Pork’s Marketing Division is to help members affected by Quality Meats' recent bankruptcy.
Ontario Pork Marketing Division will use funds from its accumulated surplus to partially reimburse farmers who were not paid by Quality Meat Packers Limited for animals shipped through the Division to Quality Meats from 31 March to 3 April.
These payments to Ontario Pork Marketing members are meant to offset some of the losses resulting from Quality Meats' bankruptcy that were incurred by producers who shipped through the Division.
Patrick O’Neil, Division Manager, said: "I’m pleased to be able to offer meaningful support to producers who use our services. Due to our surplus we were able to offer our members some relief during these circumstances."
Ontario Pork Marketing Division will continue to monitor the situation and work to maintain the orderly flow of hogs through its processing channels.
Although payments to producers are not guaranteed by the Division in situations such as these, the Division has practices in place that help to minimise the risk to producers of non-payment in the event of a default.
Ontario Pork’s Marketing Division is funded by a service fee paid by producer members in the province. The marketing services assist producers by strengthening their bargaining power, analysing marketing options, enforcing strict credit terms, and providing risk management options.
TheMeatSite News Desk