Ottawa ON – Investment in an Indo-Pacific Agriculture and Agri-food Office announced today by Prime Minister Justin Trudeau will help bring more value to the soybean industry across Canada. From high value markets like Japan where Canadian soybeans have a 42 percent market share, to high growth opportunities like Indonesia where soybeans are Canada’s number two export, Indo-Pacific markets are an important driver of opportunities for farmers and the soybean industry from the Atlantic Ocean to the Rocky Mountains.
“Nearly every day I get calls asking about Canadian soybeans, to resolve issues, or to do more promotion of our products in Indo-Pacific markets,” says Brian Innes, executive director of Soy Canada. “We’re ready to work arm in arm with our government partners to make today’s modest investment produce results.”
From our over one hundred varieties of food grade soybeans offering tailored performance for discerning soy food manufacturers to our competitive supply of soybeans destined for animal feed, demand from customers in the Indo-Pacific currently represents 46% percent of Canada’s overall exports at $1.6 billion. But getting the most value from these markets is often hampered by misperceptions, phytosanitary issues, unscientific policies on seed innovation and crop protection and limited engagement of regulatory experts.
“Our exporters are on the ground talking to customers and hearing how we can bring value to them, but often, we need our government at the table to resolve issues and create opportunity,” says Innes. “Targeting today’s investment through a collaborative approach with our industry can bring real value by increasing the price we’re paid and reducing risk.”
Over 70% of Canada’s soybean production is exported to over 63 countries, worth $3.0 billion in 2021. Approximately one third of soybean exports are containerized, travelling from farmers’ fields in Ontario and Quebec to east and west coast ports.
“We appreciate the support of trade minister Mary Ng, agriculture and agri-food minister Marie-Claude Bibeau and their dedicated officials for today’s announcement and ongoing work to help industry create value for Canada through agri-food exports,” says Innes.
Soy Canada is a national value-chain organization for the soybean sector, including seed companies, growers, exporters, and processors. Our membership is diverse, including many small and medium businesses across the country. Created in 2014, we provide industry leadership on issues affecting the growth and profitability of the soybean sector, coordinate research efforts across the value chain and across the country, as well as lead on market access and market development efforts. Soybeans are among the top three most valuable crops in Canada.
Source : Soycanada