A just completed economic impact assessment shows an eight to one return on dollars invested in pork sector research in Canada. A national webinar set for February 18th, hosted by Swine Innovation Porc, will explore the findings of an impact assessment which examined the returns on pork sector research investment in Canada.
Dr. Stuart Smyth, a Professor in the Department of Agricultural and Resource Economics at the University of Saskatchewan and one of the authors of the report, "From Research to Results: Measuring the Impact of Pork Research in Canada," explains the study looks at research investments made by Swine Innovation Porc from 2010 until the end of 2023.
Quote-Dr. Stuart Smyth-University of Saskatchewan:
They've made a number of investments into over 70 research projects in that time period involving universities, Agriculture Canada and private research companies right from B.C. through to the Maritimes, so completely across Canada. We were looking at what money was invested in these projects and trying our best to determine what were the benefits that came out of this program of research.
One of the key findings is that we found there's a significant return on investment for pork farmers in Canada. We identified that it's about an eight to one ratio, so for every dollar that's invested into swine research by pork producers in Canada it generates about eight dollars in value in terms of a return to them.
We found that the pork research over this 15-year period of time generated about 225 million dollars in total benefits for the Canadian economy.A significant portion of this was just through the increase in demand for pork products but a large portion came from the research itself, particularly looking at improvements in feed use efficiency, one of the lead areas of research.
Dr. Smyth says the benefits extend across the country to all pork producers and then ultimately to all of us as consumers.To access the full agenda and to register for February 18th webinar click the Upcoming Events links on the SIP web site at swineinnovationporc.ca.
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Source : Farmscape.ca