FCC Report says forecast improving for food and beverage processing

Sep 23, 2022

The outlook for food and beverage processors remains positive amid economic conditions that have shifted from the start of the year, according to the Food and Beverage Report mid-year update from Farm Credit Canada (FCC).

Year-over-year sales growth is expected to slow in the second half of the year to six per cent from 12 per cent in the first half, finishing the year at nine per cent.

“We expect slower growth in the second half of the year as inflation eases, global economic growth moderates and Canadian consumers pay attention to the price of food and their own limited savings compared to a year ago,” said J.P. Gervais, FCC’s Chief Economist. “Food and beverage manufacturers are reckoning with high costs and shifting consumer food patterns, but profitability is projected to improve in the months ahead.”

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Video: Research in Action | Swine Cluster 4 - Activity 8: Precision Feeding with Dr. Aline Remus

Research in Action is a video series from Swine Innovation Porc that highlights the people and projects driving innovation in Canada's pork sector.

In this episode, Dr. Aline Remus (Agriculture and Agri-Food Canada) explains how precision feeding is helping producers improve efficiency, reduce feed costs and lower environmental impacts while supporting animal health and welfare.

As part of Swine Cluster 4 - Activity 8, this research is advancing precision livestock farming by tailoring nutrition to the needs of individual pigs or groups of pigs. The project aims to reduce feed costs, decrease greenhouse gas emissions and nutrient losses, and develop practical precision feeding systems that producers can confidently adopt on-farm.

By bringing together researchers from across Canada and around the world, this work is helping transform innovative research into practical solutions for a more sustainable and competitive Canadian pork sector.