Plant protein processing gets financial boost

SPG Past President Lee Moats said more people are eating plant-based protein and the processing facility for peas and canola will benefit farmers.

“My thoughts are as farmers, we’re looking for diversification. Everyone has heard about the trade issues we faced with India where they have implemented tariffs and restricted trade,” Moats said. “We’re looking for other ways of using the pulse crops we grow.”

The plant will source its inputs from Canadian producers, with a projected 10,000 metric tonnes of yellow peas and 17,000 tonnes of canola seed in its first year.

Moats said consumer demand for plant-based proteins is growing in Canada and markets around the world.

“Right now, the world seems to be very interested in plant protein, healthy diets and sustainable production. The more we can meet that consumer demand the better and that takes investment,” Moats said. “The federal government is wisely choosing Merit Foods because they have potential to meet the demand for protein products made from pulse crops.”

The federal contribution includes $10 million in a repayable contribution from Agriculture and Agri-Food Canada’s AgriInnovate Program, $25 million in debt financing from Farm Credit Canada, Export Development Canada will provide $55 million in debt financing and $9.2 million from the Protein Industries Canada.

The plant will be fully operational in December and will create 80 new jobs.

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alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF

by Alice McFarlane

Plant protein processing gets financial boost

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