There’s a new report on the agriculture industry in this country that should ring warning bells for those of us in this part of the world.
It seems we’re really, really good at growing food in this country. We’re not so good as financing the value-added sector that is a logical destination for our output or for new technology to increase our efficiency.
As a result, Canada is facing the possibility of losing its global standing in the agri-food sector is the underlying theme of a report prepared by RBC Royal Bank.
That’s because the agri-food sector is not attracting its share of investment capital, the money needed to develop new technology through the entire food chain – from primary production to processing, packing and distribution.
Canadian ag companies attracted three-percent of the investment capital flowing into businesses over the last five years. US firms secured 11-times that much. Generally, we are near the bottom of the pack when compared to European nations, Japan and Australia or countries, such as Middle East nations, where food security is considered a strategic priority.
