Global food trends are playing to the strengths of Canadian agriculture, according to a New York-based analyst with Rabobank.
Bill Cordingley, the Dutch bank's head of ag research and advisory for the Americas, spoke at the Canadian Global Crops Symposium in Winnipeg last week.
"At one level there's a geographical advantage that Canada possesses, being on the rim of the Pacific with access to the large-growth markets in Asia. 50 percent of global growth in agricultural imports in the next 10 years is going to be driven by Asian demand," he explained. "Canada is ideally placed from a geographical point-of-view, but again that will mean Western Canadian infrastructure will need to be developed to meet that increased volume demand."
As incomes rise in Asian markets, there will also be more demand for the quality and nutritional characteristics of Canadian ag exports, said Cordingley.
"Canola has a wonderful health halo. You have heart-healthy oats, high-quality pasta or durum wheat, lentils, peas providing excellent nutrition, high-quality milling wheat - there's a really good diverse array of higher-end, higher-quality commodities that are well-perceived by customers around the world," he said.
Source: SteinbachOnline