The Government of Canada invests over $355,000 in the grain and oilseed industry to develop new risk management tools
By Kate Ayers
Staff Writer
Farms.com
The feds are investing up to $355,710 to explore and develop new risk management tools for Canadian farmers.
Neil Ellis, member of Parliament for Bay of Quinte, made the announcement on behalf of Lawrence MacAulay, the agriculture and agri-food minister, a government release said yesterday.
“Canada’s grain and oilseeds industry is a competitive and efficient sector, known around the world for producing high-quality, safe and sustainable foods,” MacAulay said in the release.
“Providing our farmers with the tools they need to mitigate risk helps strengthen farm businesses, creating jobs, helping to drive our economy.”
The two projects are funded through AgriRisk Initiatives and the Growing Forward 2 agreement.
Soy Canada will use a $197,400 investment to develop a profile of the soybean industry. The group will also identify both short and long-term risks that producers could face, the release said.
“Although soybean production in Canada increased by a phenomenal 131 per cent during the past decade, and now ranks third in terms of farm cash receipts, the continued success of the sector is directly contingent upon overcoming a series of significant challenges,” Ron Davidson, executive director of Soy Canada, said in the release.
“Soy Canada is already prioritizing its resources on addressing the top two risks that were identified by the (Agri-Risk) assessment: market access and protein content.”
The feds also announced an investment of $158,310 with the Grain Farmers of Ontario. The commodity group will study revenue declines that are not covered under the current business risk management programs.
Ellis made the announcement as a part of the ag minister’s “Growing Canadian Agriculture” tour. This month, he is travelling from Quebec to British Columbia.