Increased added value and a $780 million per year boost in exports — that's what the Canadian Canola Growers Association (CCGA) says canola producers have won through the Trans-Pacific Partnership agreement.
While producers in supply-managed sectors such as dairy and turkey aren't too happy with concessions made to their industries under the TPP, the CCGA says the massive multi-lateral trade deal is a big achievement for Canadian canola farmers.
"If we'd not been part of this TPP agreement, our competitive advantage in that (Asia-Pacific) region would've been eroded over time, particularly in Japan — and Japan is one of most valuable, long-standing, and important customers for Canadian canola," he says.
The TPP will phase out tariffs of Canadian canola oil in Japan and Vietnam over five years — which is where the boost in exports and added value opportunities come in. The elimination of these tarriffs alone could allow Canadian canola oil and meal exports grow by $780 million per year. Plus, White says it opens up more opportunities for Canadian crush plants.
Source : PortageOnline