Agriculture is a major and growing economic force in Canada. Farm Credit Canada says the outlook for agriculture is bright whether it be primary production on farms or opportunities in the agribusiness and agri-food sectors. Canada’s leading agricultural lender also expects producers will get good prices for their crops and livestock.
“The trends of the past ten years have been positive in general for agriculture, said Jean-Philippe Gervais, Farm Credit Canada’s Chief Agricultural Economist. “While there’s always risk and uncertainty in any forecast, future crop and livestock prices should remain above their historical averages.”
He said emerging trends in food consumption such as healthy eating, convenience food and food safety will generate opportunities for producers. The world’s growing population and more affluent developing nations will increase the demand for red meat, grains and oilseeds.
“A more affluent world, a more westernised diet and population increases result in a strong demand for Canadian agri-food products,” he said.
Farm Credit Canada claims there are significant opportunities for young people in agriculture. AgCareers.com says 50 thousand young people will be needed over the next five years to fill agriculture related jobs across the country. Farm Credit Canada President Greg Stewart says growing opportunities for young people reflect the overall strength of the industry. Canada’s agriculture and agri-food sector already employs more than two million people and contributes more than 100 billion dollars a year to the national economy.
During the 2012 – 2013 fiscal year, Farm Credit Canada approved 47 thousand loans with an average value of 162 thousand dollars.
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