05 December 2018

Future of the Canadian agriculture industry: A collection of industry perspectives

Experts from across the Canadian agriculture industry share their views on the future of the industry – and how it must adapt to grow its global role.

Questions? Ready to get started?

How will Canada’s agricultural sector evolve over the next decade? And how can producers successfully differentiate themselves to ensure they thrive?

Bringing together leaders of trade organizations, sector bodies and major corporates, the publication – Technology, new crops and growing optimism: The future of Canadian agriculture – covers a breadth of perspectives on the industry’s toughest challenges, insights on current trends and forward-looking views on opportunities within the sector. The collection of contributors represent the breadth and diversity of the country’s agricultural activities, from cattle farming and seed growing, to manufacturing and marketing, along with economic and finance views from our HSBC experts.

Optimistic outlook

The dominant mood is one of optimism and opportunity.

As Pete Molenaar, SVP & Head of Commercial Banking – Western Region at HSBC Bank Canada, remarks: “Most primary producers in Canada today continue to be optimistic about the future of agriculture.”

Several of the contributors point to the potential from harnessing technology and innovation. There is widespread agreement about the importance of automation in various forms, but also about the use of ‘big data’ to drive better decision-making.

The launch of new and more resilient crops to supplement existing winners is seen as critical.

Adding value

Besides brand new products, several contributors focus on the need for Canada to enhance existing offerings in both crops and livestock.

Meanwhile, a growing middle-class population across the world is perceived as offering fresh markets for Canadian produce.   Markets such as Australia, China, South America and Eastern Europe are suggested as top-of-mind markets that could chip away at the US dominance of Canadian exports.

Facing challenges

The serious challenges facing the industry are not forgotten.

Climate change, labour shortages, new tariffs and government regulation are among the common threats identified. There is also a call for improved transport to meet the industry’s future needs, and for action to rebuild public trust in farming.

As several contributors note, banks have their part to play in helping to alleviate the burden that these challenges place on many farmers. Our HSBC Bank Canada experts provide their views on how the bank can support both domestic and international expansion for producers.

But, the imagination and experience of Canada’s agricultural practitioners are key to the sector’s future.

Our greatest product is the farmers themselves – their commitment to agriculture goes beyond just financials

Pete Molenaar, SVP & Head of Commercial Banking – Western Region, National Head of Agriculture, HSBC Bank Canada

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