Agriculture Roundup for Tuesday March 30, 2021
MELFORT, Sask. — Despite some setbacks caused by the pandemic, Canada’s food and beverage sector is expected to be even stronger this year.
According to a new Farm Credit Canada (FCC) report most economic indicators for food and beverage show a better performance compared to other sectors of the Canadian economy. Capital expenditures and employment in food and beverage processing fell less as a percentage than all industries combined.
FCC chief economist J.P. Gervais said the pandemic brought on losses that can never be recouped, but it has also opened up many opportunities.
“In many ways, the pandemic did not create these opportunities, but accelerated the tide of underlying trends that promote them,” Gervais said.