January 14, 2015 – The federal government’s investment of up to $9.5 million to support market access and development activities is key to boosting canola’s value and industry growth, says Canola Council of Canada (CCC) president Patti Miller.
“The federal government’s strong and continued support is great news for the entire Canadian canola industry,” says Miller. “This investment will allow the CCC to make progress on two of our Keep it Coming 2025 strategic priorities: differentiated value in the marketplace, and stable and open trade.”
Agriculture Minister Gerry Ritz made the announcement today during CropSphere in Saskatoon. The investment will support market entry and development activities aimed at increasing the consumption and value of canola oil and meal in domestic and global markets. It is being made through Agricultural and Agri-Food Canada’s AgriMarketing Program, a five-year, up to $341-million initiative under Growing Forward 2.
The $9.5 million in government funding is being combined with industry contributions for a total investment of $19 million over five years.
“The canola industry is an important economic engine in Canada and we need ongoing investment to keep this momentum up and reach our target of 26 million metric tonnes of sustained market demand and production by 2025,” says Miller. “Because 90% of our canola production is exported around the world, it’s critical to grow current markets and create new market opportunities too.”
The Canadian canola industry generates $19.3 billion annual in economic activity and nearly a quarter of a million jobs. This funding initiative will continue to help the industry build markets and keep them open through:
- Developing a deep understanding of social, economic and political drivers of the target geographies
- Engaging experts to develop strong partnerships with key influencers
- Educating the end-user in the positive attributes of canola oil and meal
- Contributing and coordinating with partners on market access barriers
The CCC is a full value chain organization representing canola growers, processors, life science companies and exporters. Keep it Coming 2025 is the strategic plan to ensure the canola industry’s continued growth, demand, stability and success – achieving 52 bushels per acre to meet global market demand of 26 million metric tonnes by the year 2025.
Media may contact:
Heidi Rubeniuk, Director, Communications