REGINA – Strong demand for food and fertilizer this year will help Saskatchewan deal with a five per cent drop in export revenues. A forecast by Export Development Canada says the province faces a 27 per cent reduction in energy exports due to low oil prices.
Peter Hall, the agency’s chief economist, says the hit will be mostly offset by growth in the agri-food and fertilizer sectors.
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He says sales of such commodities are getting a lift from the weaker Canadian dollar and growing global demand for food.
The federal agency says the agri-food sector accounts for 40 per cent of Saskatchewan’s exports.
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Potash fertilizer exports are expected to increase by 18 per cent this year.
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