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Cavendish Farms is constructing two new buildings to store its potatoes. The new buildings will be able to hold 48 million pounds of spuds.
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Potato farmers planted 344,884 acres (139,571 hectares) of potatoes this year, down 0.6 per cent from 2016, continuing the overall downward trend of the past 13 years.
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While Prince Edward Island's recent stretch of hot, dry weather has been great for some, it’s worrying farmers: Charlottetown has received 20.4 millimetres (mm) of precipitation so far in July – the average for the month is around 80 mm.
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Minimizing tax and financial burdens from succession can be done in a number of ways, including vendor take-backs that spread gains over time, holding companies, considering ways to move cash from the farm operation into a retirement savings plan to defer tax or life insurance. Families also need to structure the operation going forward.
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Agriculture ministers signed a $3-billion partnership with Ottawa aimed at strengthening the industry and developing new markets as federal officials prepare for looming trade talks with the United States.
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The accumulated precipitation is below normal in most of the potato producing areas of Manitoba. So far, no late blight has been reported – hot and dry conditions in the last few days are not favourable for the disease.
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