Ottawa ON – Investment in an Indo-Pacific Agriculture and Agri-food Office announced today by Prime Minister Justin Trudeau will help bring more value to the soybean industry across Canada. From high value markets like Japan where Canadian soybeans have a 42 percent market share, to high growth opportunities like Indonesia where soybeans are Canada’s number two export, Indo-Pacific markets are an important driver of opportunities for farmers and the soybean industry from the Atlantic Ocean to the Rocky Mountains.
“Nearly every day I get calls asking about Canadian soybeans, to resolve issues, or to do more promotion of our products in Indo-Pacific markets,” says Brian Innes, executive director of Soy Canada. “We’re ready to work arm in arm with our government partners to make today’s modest investment produce results.”
From our over one hundred varieties of food grade soybeans offering tailored performance for discerning soy food manufacturers to our competitive supply of soybeans destined for animal feed, demand from customers in the Indo-Pacific currently represents 46% percent of Canada’s overall exports at $1.6 billion. But getting the most value from these markets is often hampered by misperceptions, phytosanitary issues, unscientific policies on seed innovation and crop protection and limited engagement of regulatory experts.
“Our exporters are on the ground talking to customers and hearing how we can bring value to them, but often, we need our government at the table to resolve issues and create opportunity,” says Innes. “Targeting today’s investment through a collaborative approach with our industry can bring real value by increasing the price we’re paid and reducing risk.”