Farmers told they have a ‘generational’ opportunity to increase role in Canada’s economy if they invest in their business
OTTAWA — Farm Credit Canada’s president is bullish about Canadian farmers’ ability to take a leap forward.
“Consumers around the world are counting on us to increase sustainable food production, and to do so, we will need to take on new risks, new beginnings, and form new partnerships,” said Justine Hendricks at Canada’s Agriculture Day in Ottawa.
“Canada is super-well-positioned to do that. The world is looking for more of Canada.”
Hendricks said Canadian farmers have a “generational opportunity” to increase their role within Canada’s economy and for the world’s consumers, but they need to invest in their operations to be able to do so.
She lauded the concept of sustainability, but said it must be attached to farm financial viability and success.
“We can’t continue to keep sustainability and profitability as two separate conversations. Our sustainable production drives the economic opportunity that’s in front of us.”
Hendricks warned that Canadian agricultural productivity has been slipping in recent years, now that the “low-hanging fruit” of earlier technological innovations has been mostly realized.
For the next gains, farmers will need to invest for growth. If they wring all productivity improvements they can from their operations, it could mean an extra $30 billion in net farm profit by 2030, she said.
Reaching for those gains will involve risk-taking and some stumbles, but that’s the price of opportunity.
“We will make mistakes,” said Hendricks. “We can’t sit back, because the status quo is actually a decision.”
However, there is a compelling need for greater Canadian farm production, so the risks occur in a promising environment.
“Never before has agriculture and food been at the forefront of addressing global hunger, health, climate change, economic growth — and it can be done all at once,” said Hendricks.
