Food and Beverage Business
Finance

Canada increases funding for dairy, poultry, and egg production industries

Canada increases funding for dairy, poultry, and egg production industries Dairy & Soy Food, eggs, meat Food and Beverage Business

Canada is investing C$89m into its dairy, poultry, and egg industries to support 49 projects across the country. The funds, provided through the Supply Management Processing Investment Fund (SMPIF), aim to help manufacturers navigate the impacts of recent international trade agreements, including the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Canada-United States-Mexico Agreement (CUSMA).

The initiative includes the allocation of funds for various projects, including modernizing production facilities and supporting environmental challenges and labor shortages. The government plans to assist farmers in purchasing and installing new automated technology to improve production capacity and productivity.

Additionally, the government is offering financial support to small and medium-sized enterprises (SMEs) as well as larger companies with 500 or more employees. Lawrence MacAulay, Canada’s Minister of Agriculture and Agri-Food, emphasized the importance of modernizing operations to provide high-quality products to Canadian families and to support rural communities across the country.

The investment in the dairy, poultry, and egg industries has received positive feedback from industry leaders. Mathieu Frigon, President and CEO of the Dairy Processors Association of Canada, commended government officials for their responsiveness to the evolving needs of the dairy processing community. Mark Hubert, President and CEO of the Canadian Poultry and Egg Processors Council, highlighted the importance of investments in equipment and technology to increase productivity and efficiency.

The announcement was made at the Lactalis Canada cheese plant, which is set to receive approximately C$3.3m to develop new automated cheese processing and packaging technology. Lactalis Canada, known for brands such as Black Diamond, Balderson, Astro, and Cracker Barrel, is one of the many companies benefiting from the SMPIF initiative.

This investment initiative is part of Canada’s ongoing efforts to support processors of supply-managed commodities and to address market shifts resulting from trade deals. It follows previous announcements of compensation packages for dairy producers as a result of concessions made in trade agreements. According to the government, the dairy and poultry production industries in 2022 generated around C$14bn in sales and created approximately 100,000 jobs.

In conclusion, Canada’s substantial investment in the dairy, poultry, and egg industries reflects the government’s commitment to supporting key sectors within the food and beverage industry. The emphasis on modernization and technological advancements is expected to have a positive impact on production efficiency and the overall competitiveness of Canadian companies in the global market.

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