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Monday, 20 March 2017 16:12

Report: Value of Canola Up in Canadian Economy

Report: Value of Canola Up in Canadian Economy Courtesy: Pixabay.com

According to a recent study, the value of canola to the Canadian economy has tripled in the past decade.

The value of canola to the Canadian Economy is now coming in at $26.7 billion a year.

That value is an increase of almost $6 billion, from a three-year period of 2009-11.
A large part of the value jumping is from the 250,000 jobs and the $11.2 billion in wages the industry now generates.

 

According to Vice President of Government Relations for the Canola Council of Canada Brian Innes, this rise in value has been a gradual one, but significant.

"When you look at how the economic impact has grown, it's increased by more than two hundred and fifty per cent in the past ten years. So, over the last ten years, we've seen a significant amount of growth, and that's affected wages, that's affected jobs, and that's affected the impact it has on the economy."

 

The independent analysis was prepared by agribusiness research firm LMC International, calculating the benefits between 2012 and 2015 from canola developed, grown, processed and marketed in Canada.

Read 485 times Last modified on Tuesday, 21 March 2017 13:17

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