Soy Canada will receive just over $350,000 in federal funding to allow the organiztion to capitalize on “new and emerging international markets and demand for Canadian soybean products.”
Canada is currently the world’s 5th largest exporter of soybeans, exporting to over 55 countries in 2014. Canadian soybean production has increased nearly 125% in the last 15 years. The crop is now the 4th largest by acreage in the country.
Announced today at Guelph, Ontario, this Growing Forward 2 funding will be used to realize economic opportunities for our Canadian farmers through increased demand for Canadian soy products, according to Agriculture and Agri-Food Canada.
“As acreage and production of soybeans increases quickly in Canada, our industry is seeking to develop new markets and expand existing ones,” says Jim Everson, executive director of Soy Canada, “this strong support from the Government of Canada will be invaluable in helping our industry expand exports.”
Soy Canada will use the funding to implement a market development strategy, attend international trade shows and lead missions to raise awareness of Canadian soybeans, concentrating efforts on expanding key markets in China, the United States, Korea, Japan and Europe.