Canada’s Agri-food Industry a key focus of 2017 budget

Canada’s Agri-food Industry is a key focus of the 2017 budget.

The Federal Government of Canada is pushing towards growing Agri-food exports to 75 billion by 2025. Canada’s current Agri-food exports are about 50 billion annually. Finance Minister Bill Morneau states Canada’s food industry is “positioned for success”.

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Canada’s Agri-Industry By The Numbers:

The global demand for food is going to rise significantly. And, by 2050 Canada’s agriculture sector will be completely different. The world will want more Canadian agricultural goods, suggest Morneau. It seems like this demand will lead to more jobs across the sector, in agriculture Canada.

Canada has the arable land. The water supply. And a skilled labor force that makes this a strategic sector for Canada to capitalize on in. Its a strategic Economic Growth Plan.

Therefore, Approximately 70 million dollars per year over the next 6 years will be invested into research. This research will “further support agricultural discovery science and innovation”. In addition, another 200 million will be provided towards helping producers adopt clean technology. This too is because of the Clean Growth Program initiative.

industry agriculture sask farmland
Last Years Budget: http://www.budget.gc.ca/2016/docs/plan/ch2-en.html

Food Safety Priority For Agri-Industry In Canada:

Another proposed initiative of the 2017 budget is to have 149.3 million spent over a 5 year period on improving food safety and inspection programming.

Right now, 1 in every 8 jobs in Canada is related to the Agriculture Industry. This would suggest that approximately 2.2 million Canadian’s are employed by the ag. industry. Because Saskatchewans has a large farming community, we will hopefully benefit from these changes. Consequently, this demand should also increase the need for agriculture jobs. Therefore, this should decrease unemployment rates in Saskatchewan.

In the document posted below it seems like the plan really is to enhance the Middle Class. The Budget is aiming to place Canada on a global stage for agriculture. As a result, The Council suggests there is significant opportunity to increase international demand for food.

Due to the recent launch of the “Canada Pavilion” on the Chinese e-commerce site Alibaba. It seems this like this is one example of the ways Canadian agri-food companies are showcasing the quality of Canadian products and taking advantage of emerging market opportunities.

For more on the Budget click here: http://www.budget.gc.ca/2017/docs/plan/budget-2017-en.pdf

What do you think of the budget proposed? What do you find most noteworthy in the proposal and Do you think the proposed budget is enough to sustain what Canada’s Agri-food Industry needs? Or do you think we need more for sustainability?

We want to hear your thoughts about this. Please share your comments or ideas below. Alternatively, feel free to reach out to us via Facebook or email.

Last but not least, you can always call us to talk about how the budget may affect you and your farmland.