Medium Term Outlook Projects Continued Growth for the Canadian Agricultural Sector
OTTAWA, Sept. 21, 2018 /CNW/ - Canadian farmers are leaders in producing safe, high-quality agricultural and food products for Canadians and people around the world. The sector is a major driver in creating good, middle-class jobs, and is one of Canada's key growth industries.
Today, Agriculture and Agri-Food Canada (AAFC) released its Medium Term Outlook (MTO), an economic projection of the domestic and international agricultural markets from 2017 to 2027. This year's projections show continued growth for the agricultural sector and put Canada within reach of its $75 billion target in agriculture, agri-food and seafood exports annually by 2025.
AAFC is also releasing its Farm Income, Financial Conditions and Government Assistance Data Book 2017, an economic publication that provides a comprehensive view of the performance of the primary agriculture sector and the expenditures that governments are making to ensure it remains strong and competitive.
Together, the MTO and Data Book provide governments and industry with reliable information that can be used in policy development and strategic planning for the Canadian agriculture and food sector, which will help support its continued growth.
Quote
"Canada has the best farmers and food processors in the world, making us a world leader in agricultural production. The next decade will present opportunities to keep growing the sector's competitiveness and profitability. Our Government will continue to make strategic investments in science, innovation and export market development to help drive the sector forward, create good middle-class jobs and ensure the prosperity for producers and processors for years to come."
- Lawrence MacAulay, Minister of Agriculture and Agri-Food
Quick facts
- The crop sector, particularly oilseeds, is projected to see increased production and exports.
- Moderate growth is expected for the Canadian livestock sector.
- Poultry demand is projected to remain strong, and production is projected to increase throughout the medium term while consumption of eggs in Canada is projected to continue to increase.
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SOURCE Agriculture and Agri-Food Canada
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