Canada’s canola farmers are among many welcoming news of an agreement on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
“This is excellent news for canola farmers,” says Jack Froese, President of the Canadian Canola Growers Association (CCGA) and a farmer from Manitoba. “The CPTPP creates opportunities that will benefit our farms, our communities and our nation’s economy.”
“The CPTPP provides a platform to diversify canola exports and expand our trade within the growing Asia-Pacific region,” says Rick White, CEO of CCGA. “It will help to solidify Canada’s position in the region and put Canada on a level playing field with competitors, such as Australia, who have bilateral trade agreements in place with key CPTPP members.”
Collectively, the member nations of the CPTPP imported more than $2 billion of Canadian canola seed, oil and meal in 2016. Japan remained the most important market, purchasing $1.2 billion of canola seed.
A study commissioned by the Canola Council of Canada found that when tariffs are fully eliminated in Japan and Vietnam, exports of Canadian canola oil and meal could increase by up to $780 million per year.
Canola farmers export nearly 90% of what they grow.
Source : Steinbachonline