Regina, Saskatchewan– A growing bioeconomy means opportunity for Canadian agribusiness. In the latest issue of the Farm Credit Canada (FCC) Knowledge Insider, industry experts and agribusiness owners provide insight about the keys to success in the bioeconomy.
"The bioeconomy can help address global issues, including food shortages, soil nutrient depletion and the need for affordable products and energy," says Kellie Garrett, Senior Vice-President of Strategy, Knowledge and Reputation at FCC. "Agribusinesses can profit by developing sustainable solutions to these issues."
The bioeconomy refers to economic activities related to the development and commercialization of products and processes using renewable biological sources from agriculture, forestry and marine. Garrett adds that many agribusinesses are already involved in the bioeconomy – producing bioproducts, applying biological fertilizers or using enzymes to manufacture food.
Here are some highlights from this edition:
The economy has traditionally derived value from a hybrid of chemistry-based and bio-based products and processes. Some industry experts suggest this will continue.
There is no single strategy for success in the changing bioeconomy. Monitoring supply and demand, considering infrastructure needs and keeping up with scientific advances can help businesses retain a competitive edge. Forging strong relationships in Canada's growing bioeconomy clusters can help businesspeople monitor trends and uncover new opportunities.
The "Tips, tools and strategies" section offers insight from Canadian experts about future bioeconomy opportunities.
"This edition of FCC Knowledge Insider offers forward-looking opinions and also profiles recent successes and lessons learned from the bioeconomy," says Garrett.
Quebec-based Valbio Canada Inc. is one of the agribusinesses profiled in Knowledge Insider. Valbio helps farms, municipalities and the agri-food sector produce bioenergy through anaerobic digestion, which converts organic residues from industrial effluents, food processing, municipal solid waste and agricultural biomass into methane-rich biogas.
This edition also features Saskatchewan's BioExx Specialty Proteins Ltd., which uses technologies to extract high-value proteins from canola for global food, beverage and nutrition markets.