Farms.com Home   Ag Industry News

Canadian ag groups call for CPTPP ratification

Canadian ag groups call for CPTPP ratification

Six countries need to sign the deal before it can take effect

By Diego Flammini
Staff Writer
Farms.com

Canadian farm organizations want Bill C-79, which calls for the ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), passed as soon as possible.

CTPP ratification requires six of the 11 countries to approve the deal. The Mexican government has already ratified the agreement. Japanese and Australian officials are going over the finer details of the deal.

Farm groups feel Canada being one of the first six sends a strong message to trade partners.

“With the implementing legislation for the CPTPP now in Parliament, Canada has a chance to play a leading role in joining the first six countries to ratify the agreement,” Daniel Ramage, director of market development with Cereals Canada, said in a piece on the organization’s website.

“This will demonstrate Canada’s commitment to international trade while promoting continued cooperation against the backdrop of rising protectionism and uncertainty.”

The Canadian pork industry is also eager for lawmakers to ratify the trade agreement.

Canadian pork exports to Japan are estimated to increase by $639 million. And tariff reductions will save the industry about $51 million, Global Affairs Canada says.

“Ensuring our industry has access to diverse and growing markets is more important than ever,” Rick Bergmann, chair of the Canadian Pork Council, said in a statement yesterday. “We are asking all members of the House of Commons to quickly ratify this agreement.”

Members of Parliament have also heard the support from Canadian farmers.

"There is definitely huge advantages for farmers and a number of other individuals that will be able to take advantage if we're able to ratify it first," Dean Allison, the MP for Niagara West, told CBC yesterday. "There have been a number of sectors in the agricultural business, in particular, that have been encouraging us to move forward."


Trending Video

90-Day Pause & Lower U.S. Tariffs with China has avoided the “Black Hole.”

Video: 90-Day Pause & Lower U.S. Tariffs with China has avoided the “Black Hole.”


A 90-day tariff pause with China, cutting rates from 145% to 30%, has renewed investor confidence in Trump’s trade agenda. U.S. deals in the Middle East, including NVDA and AMD chip sales, added to the optimism. Soy oil futures rose on biofuel hopes but turned volatile amid rumors of lower RVO targets, dragging down soybean and canola markets. A potential U.S.-Iran deal weighed on crude, while improved weather in the Western Corn Belt is easing drought fears. The U.S. also halted Mexican cattle imports again due to screwworm concerns. Funds are now short corn and adding to long soybean positions after a bullish USDA report.