The General Manager of Swine Innovation Porc says an independent economic analysis shows investment in research by the pork sector pays strong dividends for pork producers and for the Canadian economy.
An independent economic analysis, conducted on behalf of Swine Innovation Porc, that looked at the impact of swine cluster research as a driver for growth in the Canadian pork sector and in the Canadian economy found the knowledge gained from swine cluster research completed between 2010 and 2018 resulted in a three and a half percent increase in productivity in the pork sector.
SIP General manager Daniel Ramage observes greater productivity makes the sector more efficient and more competitive and has a positive impact on the bottom line for producers.
Clip-Daniel Ramage-Swine Innovation Porc:
When you think of an increase in productivity at the level of three and a half percent, I think that speaks really well to the importance of continuing to invest in research and innovation.
The Canadian pork industry, on an annual basis if you look at the economic footprint of the industry, it's over 24 billion dollars a year in terms of jobs that are generated, in terms of product, value and in terms of processing.
So, if we can strengthen that economic footprint by investing research and innovation and if we have returns like a three and a half percent increase in productivity, that's what pays dividends and that's what makes us more competitive and more efficient as an industry.
The economic impact of the Canadian pork sector, I think, speaks for itself and the value of investing research.We've demonstrated it through our return on investment study and we know that investing in research in the pork sector is going to pay strong dividends for producers and for the Canadian economy as a whole.
Ramage notes Swine Innovation Porc submitted its application to Agriculture and Agri-Food Canada in January for funding for 19 projects proposed under Swine Cluster-4.He says the review process is underway now and is expected to be completed by late spring or early summer.Source : Farmscape.ca