Canada in 2020 - Agriculture

[Jack]

Canadian Business takes a look at Canada`s place in the world`s agriculture and agri-foods industry and what the future holds. Global food production will need to double by 2050 to meet demand, and although the Organisation for Economic Co-operation and Development and the Food and Agriculture Organization of the United Nations predict many agricultural prices will fall from current levels over the next 10 years, they’ll still remain significantly higher than they were during much of this decade. Canada, already the world’s fourth-largest agricultural exporter, has sown some of the seeds for future success by developing an expertise in important crops such as soybeans, as well as by earning some clout in the global fertilizer market. The country also has an abundance of fresh water, and it might even get a helping hand from global warming, which could improve crop yields by up to 2.5% by 2080, according to research by the University of East Anglia in the UK. The US, in comparison, could see a decline by the same amount.

(Canadian Business 081027)