WINNIPEG, MB, March 14, 2023 /CNW/ – The Canadian cereal grains worth chain plays a important part in Canada’s economy by producing jobs, supporting households, and driving financial development. According to a current report commissioned by Cereals Canada, Canadian-grown wheat, barley, durum, and oats had an estimated total financial effect of $68.eight billion, which includes additional than 370,000 Canadian jobs, and $27 billion in wages.
Averaged more than the previous 3 years, Canadian-grown wheat, barley, durum, and oats had an estimated total financial effect of $68.eight billion, which includes additional than 370,000 Canadian jobs, and $27 billion in wages. (CNW Group/Cereals Canada)
The report entitled “The Financial Effect of Wheat, Durum, Barley, and Oats on the Canadian Economy: 2022” highlights the considerable contribution from these 4 crops. Cereals Canada engaged LMC International, an independent financial consulting firm focused on the agriculture and agribusiness sector, for the study.
“The cereals worth chain is a big contributor to Canada’s results,” stated Dean Dias, chief executive officer at Cereals Canada. “The report reinforces the important part that the Canadian cereals business plays in Canada’s economy.”
The report outlines the effect of wheat, barley, durum, and oats on the Canadian economy via crop production, transportation, and processing, and delivers each the direct and total income, complete-time equivalent jobs, and total wages generated by each and every crop. Averaged more than the previous 3 years, the direct financial effect on the Canadian economy was $25.9 billion per year.
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The direct financial effect on the Canadian economy from the 4 cereals averaged $25.9 billion per year.
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141,000 paid complete-time equivalent jobs are generated straight by the 4 crops, in addition to an estimated 28,000 loved ones members who help and are supported by farming operations.
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The direct wage effect of the 4 crops averaged $9.1 billion.
Factoring in the revenues, jobs, and wages generated each via take-dwelling spending by these whose jobs are tied to the 4 cereal crops, and via outsourced function undertaken by industries that help the cereal provide chain, the estimated total financial effect was $68.eight billion more than the identical time period.
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The estimated total effect on the Canadian economy from the 4 cereals averaged $68.eight billion per year.
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More than 370,000 paid complete-time equivalent jobs are supported by the 4 crops, with supported loved ones members bringing the total closer to 400,000
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The total wage effect of the 4 crops averaged $27. billion.
The report additional breaks down the cereals industry’s financial effect regionally, to demonstrate how the geographical spread of the impacts is closely tied to the place of the big industries in the provide chain. The bulk of cereal grain production requires location in the west, for instance, although a lot of the later-stage processing, such as brewing and pasta production, requires location in the east.
For additional data and to study the complete report, take a look at https://cerealscanada.ca/financial-effect/
About Cereals Canada
Cereals Canada is the national, not-for-profit, business association representing the Canadian cereal grains worth chain. We worth relationships and function with government and stakeholders to deliver timely, specialist technical data and provide finest-in-class buyer expertise. We are committed to supporting the Canadian cereals worth chain which includes farmers, exporters, developers, processors, and our shoppers about the globe with a concentrate on trade, science, and sustainability.
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