Canada Invests in Creating Soybean Export Opportunities
Date Posted: December 20, 2013
Toronto, ONThe Canadian soybean industry will tap new export markets with the support of the Harper Government.
Member of Parliament Bev Shipley (Lambton-Kent-Middlesex), on behalf of Agriculture Minister Gerry Ritz, announced Dec. 19 an investment for the Grain Farmers of Ontario to create export opportunities.
"There is growing demand for new varieties of high-quality, safe, food-grade soybeans," said MP Shipley.
"Today's investment will help the Canadian soybean sector maintain and grow their product in global markets by promoting their added value to customers around the world."
The Canadian soybean sector's ability to specialize in developing new food-grade varieties while maintaining an outstanding quality assurance program is making it a growing favourite on the world stage.
This investment of over $100,000 aims to create export opportunities for Canadian soybeans in specialty markets by attending trade missions, conferences and trade shows.
"The support the Canadian soybean industry has received from the federal government through the AgriMarketing program has allowed Canada to remain a strong competitor in soybean export markets," said Barry Senft, CEO of the Grain Farmers of Ontario.
"It is through important initiatives like this project, that Canada has been able to increase market access for our high-value Canadian soybeans. The regions of the European Union, Japan and Asia are key to the growth of our value-added soybean industry here in Canada."
Grain Farmers of Ontario represents Ontario's 28,000 growers of corn, soybean and wheat.
Soybean production is concentrated in Ontario but with the new varieties developed by Canadian researchers, it is now possible to grow them in other parts of the country as well.
Canada exports over $1 billion worth of soybeans annually to Japan, the EU and China, among others.
The investment follows Prime Minister Stephen Harper's announcement that Canada and the European Union (EU) have reached an agreement in principle on a Comprehensive Economic and Trade Agreement (CETA) that will significantly boost trade and investment ties between the two partners, and create jobs and opportunities for Canadians.
Upon entry into force, almost 94 per cent of EU agricultural tariff lines will be duty-free.
This investment is part of Agriculture and Agri-Food Canada's AgriMarketing Program, a five-year, $341-million initiative under Growing Forward 2.
The Market Development stream of the program seeks to build and promote Canada's ability to expand domestic and export markets by undertaking promotional activities to help position and differentiate Canadian products and producers, and ensure industry's ability to meet market requirements.
The new Growing Forward 2 policy framework, which came into effect on April 1, 2013, will continue to drive innovation and long-term growth in Canada.
In addition to a generous suite of business risk management programs, governments have agreed to invest more than $3 billion over five years in innovation, competitiveness, and market development.
For more information on the Growing Forward 2 agreement and the AgriMarketing Program, please visit www.agr.gc.ca/growingforward2.