On Tuesday, Farm Credit Canada (FCC) released two Trade Ranking Reports; one about agriculture, and the other about manufactured food.
The reports show in 2016, Canada was the world's 5th largest exporter of agricultural commodities, and the 11th largest exporter of manufactured food products.
From 2007 to 2009, Canada ranked 3rd in agricultural commodity exports, and between 2010 and 2011, ranked 4th.
Since 2011, Canada has held onto 5th rank on the global stage.
Principal Agricultural Economist with FCC, Craig Klemmer, says the goal is to once again rank 3rd in agricultural commodity exports.
"I do think we can. When we look at Canadian agriculture, part of the reason we have slipped from 3rd to 5th, is we've seen some big players come into the market. Brazil for example, and they're starting to export large amounts of corn and soybeans. We look at Canadian agriculture, we continue to innovate, we continue an increase in productivity, and we continue to find higher valued products."
Along with a goal of moving up in the ranks, the Canadian Government has a target of reaching $75 billion dollars in agriculture and agri-food exports by 2025.
Klemmer says, the reports provide information about the health of the sector and the optimism.
"I think it's important for producers to take a step back sometimes, and look at the where the opportunities are, and ask how is my operation fitting into the bigger picture, and how dependent am I on these export markets, and what does it mean for me personally. We're identifying some new opportunities, and where we see some of the trade opportunities to be going, and do those opportunities fit into your business plan, whether it's three years, or five years down the road, and just trying to figure out where your operation fits into this overall success and optimism."
The Agriculture Trade Ranking Report shows pulses and canola as some of the world's largest growing exports, and it shows canola seed is a strength in Canadian exports, which exports are growing at a global level.
FCC says, Canada is about to strengthen its position as one of the world's top agriculture and agri-food trading nations.
"Our optimism comes from a unique set of circumstances where demand for both Canada's agriculture commodities and manufactured food products continues to grow," said J.P. Gervais, Chief Agricultural Economist for FCC. "The stars are aligned for an industry that is already strong and has the potential to grow in a highly competitive world market."
Gervais says, the reports confirm agriculture is, and will, continue to be a major contributor to Canada's growth and prosperity.
To view the full reports, you can visit their website.
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