RBC Report Calls for Bold Agri-Food Strategy to Diversify Trade

Canada's agricultural sector is poised to lead a new era of trade diversification, but only if it acts decisively, says a new RBC report.  

Released Tuesday, the report, Food First: How Agriculture Can Lead a New Era for Canadian Exports, outlines a plan to expand Canada's global market share by 30% and drive $44 billion in new agri-food exports by 2035. 

"This research highlights a critical moment for Canada's agri-food sector,” said Lisa Ashton, Agriculture Policy Lead, RBC Thought Leadership and author of the report. 

While Canada's agricultural exports have quadrupled in value since 2000, its global market share has shrunk by 12% as competitors like Brazil and Australia expand into high-growth regions, Ashton noted. With rising trade uncertainty and escalating tariffs in North America, Canada must accelerate efforts to diversify its trading partners, particularly in Southeast Asia, Africa, and the Middle East, she added. 

RBC worked with the BCG Centre for Canada's Future to build a model projecting export market share potential. The resulting Food First report introduces a national roadmap designed to unlock Canada's full potential as an agricultural powerhouse. 

"Canada has long been one of the world's leading food producers," said John Stackhouse, Senior Vice President, Office of the CEO, RBC. "We have an opportunity to turn agriculture into a driving force for trade diversification and if we act now, we can ensure Canadian farmers, processors, and exporters are well-positioned to lead the global food economy rather than losing ground to competitors. This report lays out a clear roadmap to strengthen our trade relationships, scale our agri-food industries, and make Canada a leader in sustainable, high-value food production." 

Key Recommendations from the Food First Report 

• Innovation: Accelerate the adoption of precision farming and food processing technologies to increase productivity and efficiency. 

• Capital: Scale up agri-food processing clusters to add value to raw commodities and expand Canada's footprint in global markets. 

• Digital access: Close the 5G and high-speed internet gap in rural Canada to unlock the full potential of digital agriculture. 

• Export Infrastructure: Modernize ports, logistics, and transportation networks to reduce bottlenecks and improve export reliability. 

• Global marketing: Strengthen market development efforts and regulatory alignment in high-growth regions like Southeast Asia, Africa, and Latin America.