WINNIPEG, MB, March 14, 2023 /CNW/ – The Canadian cereal grains worth chain plays a important part in Canada’s economy by generating jobs, supporting households, and driving financial development. According to a current report commissioned by Cereals Canada, Canadian-grown wheat, barley, durum, and oats had an estimated total financial influence of $68.eight billion, such as additional than 370,000 Canadian jobs, and $27 billion in wages.
Averaged more than the previous 3 years, Canadian-grown wheat, barley, durum, and oats had an estimated total financial influence of $68.eight billion, such as additional than 370,000 Canadian jobs, and $27 billion in wages. (CNW Group/Cereals Canada)
The report entitled “The Financial Effect of Wheat, Durum, Barley, and Oats on the Canadian Economy: 2022” highlights the substantial contribution from these 4 crops. Cereals Canada engaged LMC International, an independent financial consulting firm focused on the agriculture and agribusiness sector, for the study.
“The cereals worth chain is a significant contributor to Canada’s results,” mentioned Dean Dias, chief executive officer at Cereals Canada. “The report reinforces the very important part that the Canadian cereals sector plays in Canada’s economy.”
The report outlines the influence of wheat, barley, durum, and oats on the Canadian economy via crop production, transportation, and processing, and supplies each the direct and total income, complete-time equivalent jobs, and total wages generated by every single crop. Averaged more than the previous 3 years, the direct financial influence on the Canadian economy was $25.9 billion per year.
The direct financial influence on the Canadian economy from the 4 cereals averaged $25.9 billion per year.
141,000 paid complete-time equivalent jobs are generated straight by the 4 crops, in addition to an estimated 28,000 household members who assistance and are supported by farming operations.
The direct wage influence of the 4 crops averaged $9.1 billion.
Factoring in the revenues, jobs, and wages generated each via take-dwelling spending by these whose jobs are tied to the 4 cereal crops, and via outsourced perform undertaken by industries that assistance the cereal provide chain, the estimated total financial influence was $68.eight billion more than the very same time period.
The estimated total influence on the Canadian economy from the 4 cereals averaged $68.eight billion per year.
More than 370,000 paid complete-time equivalent jobs are supported by the 4 crops, with supported household members bringing the total closer to 400,000
The total wage influence of the 4 crops averaged $27. billion.
The report additional breaks down the cereals industry’s financial influence regionally, to demonstrate how the geographical spread of the impacts is closely tied to the place of the significant industries in the provide chain. The bulk of cereal grain production requires location in the west, for instance, whilst substantially of the later-stage processing, such as brewing and pasta production, requires location in the east.
For additional info and to study the complete report, take a look at https://cerealscanada.ca/financial-influence/
About Cereals Canada
Cereals Canada is the national, not-for-profit, sector association representing the Canadian cereal grains worth chain. We worth relationships and perform with government and stakeholders to supply timely, professional technical info and provide very best-in-class buyer encounter. We are devoted to supporting the Canadian cereals worth chain such as farmers, exporters, developers, processors, and our buyers about the globe with a concentrate on trade, science, and sustainability.
Supply Cereals Canada
View original content material to download multimedia: http://www.newswire.ca/en/releases/archive/March2023/14/c9054.html