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(Dave Bedard photo)
General, Markets

Food sales grew but margins tightened in 2022, FCC says

Modest further growth expected this year

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Food and beverages sales increased in Canada last year, even as margins hit an historic low and consumers chose Canadian less. According to the latest FCC Food and Beverage Report, released Tuesday, sales increased 11 per cent to $156 billion in 2022. These gains came largely from higher export values and strength in the grain […] Read more
(Screengrab from Merit Functional Foods video via YouTube)
Canola, Crops, Peas

Merit Foods stakeholder looking to buy company

Burcon 'actively engaged' with company's receiver

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One of the joint-venture owners of Winnipeg pea and canola protein processor Merit Functional Foods says it’s in talks to buy full control of the cash-strapped company. Two days after Merit entered a court-ordered receivership, Vancouver-based Burcon NutraScience announced Friday it “intends to submit a formal proposal to acquire the business.” Burcon said Merit’s receivership […] Read more
Justine Hendricks, shown here in a 2019 video, is the new CEO of Farm Credit Canada. (Elevate International video screengrab video via YouTube)
General, Markets

EDC executive to lead Farm Credit Canada

Justine Hendricks to replace retiring Michael Hoffort

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Canada’s federal farm lender is importing its next chief executive from Export Development Canada. Federal Agriculture Minister Marie-Claude Bibeau on Wednesday announced the appointment of Justine Hendricks, EDC’s senior vice-president and chief corporate sustainability officer since 2019, as FCC’s new CEO effective Jan. 30, 2023. As CEO, Hendricks replaces Michael Hoffort, an FCC staffer since […] Read more
(Luca Piccini Basile/iStock/Getty Images)
General, Machinery, Markets

Farm equipment demand to remain high, FCC says

Low inventories, high commodity prices and a good crop place pressure on demand

By
Demand for farm equipment should remain high through 2023 despite higher interest rates and projected price increases, according to Farm Credit Canada. The federal ag lender has released an outlook on the farm equipment market that analyzed data and trends that affect the market. While the outlook attributes much of the current demand to relatively […] Read more
(Dave Bedard photo)
General, Markets

Rate of rise in farmland value ‘surprised’ in 2021

Canada books 8.3 per cent year-over-year increase, FCC reports

By
MarketsFarm — Despite a year of economic uncertainty due to extreme weather, reduced crop yields and the COVID-19 pandemic, the value of Canadian farmland rose by its highest rate in four years, according to a report from Farm Credit Canada (FCC). FCC’s report, released Monday, revealed that the national average value of farmland increased by […] Read more
(Dave Bedard photo)
General, Markets

Farmland appreciation continues through pandemic year

FCC report puts Canada's average land value increase at 5.4 per cent

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Economic churn across Canada from the global COVID-19 pandemic didn’t faze the country’s real estate market — nor its farmland market in particular — in 2020, according to the latest review from the federal farm lending agency. Farm Credit Canada on Monday released its 2020 Farmland Values report, showing an average increase of 5.4 per […] Read more
A view from Globeways Canada’s office at Mississauga, Ont., from a 2011 video marking the presentation of the Mississauga Board of Trade’s award for Small Business of the Year. (MBOT video screengrab via YouTube)
Crops, Pulses

Suspended pulse crop handlers partly reinstated

Companies can't buy or receive more grain from growers

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Three suspended pulse and special crop handling and processing companies are again licensed to move Canadian grain — but not to buy any. The Canadian Grain Commission announced Monday it has reinstated the licences for Globeways Canada Inc. and its subsidiaries: Canpulse Foods Ltd., a pulse and canary seed processor at Kindersley, Sask., and Global […] Read more
(Dave Bedard photo)
General, Markets

FCC identifies export, market opportunities for Canadian food

The ag lender's latest report highlights canola oil, pork, potato products, crab meat

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Canada is already a major exporter of agricultural goods, food and beverages — but increasing food and beverage exports is still one of Canada’s biggest trade opportunities, Farm Credit Canada (FCC) says. And by diversifying exports, farmers will become less dependent on current major markets, reducing their financial risk. “When borders close for any number […] Read more
(Dave Bedard photo)
General, Markets, Weather

Canadian farmland trending less affordable in FCC report

Average values continue rising across board

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The average value of farmland in Canada is continuing to rise faster than farmers’ ability to generate revenue from it, Farm Credit Canada’s latest Farmland Values Report suggests. The report, released Monday, shows the average value of Canadian farmland rose 5.2 per cent in 2019 over 2018, the smallest year-over-year increase since 2010, and down […] Read more
(Photo courtesy Canola Council of Canada)
General, Markets

Cash advance repayment deadlines extended

FCC gets added capital to boost lending capacity

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Canadian farmers who have repayment deadlines coming up on their cash advances between now and the end of April will get extra time to repay those loans. The federal government on Monday announced a stay of default on loans coming due on or before April 30 under the Advance Payments Program (APP), among other measures […] Read more

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