Business & Policy
Canola industry receives funding for marketing
By Top Crop Manager
Jan. 14, 2014 - The federal government is investing up to $9.5 million to the Canola Council of Canada to support market development activities aimed at increasing the consumption and value of canola in domestic and global markets.
The activities being undertaken in this project will help Canada's canola industry meet its growth target of 26 million tonnes of sustainable canola production by 2025. This will be achieved through market research as well as developing international and domestic strategic partnerships, participating in conferences and trade shows, and developing recipes for canola-based healthy meals.
The investment will support market entry and development activities aimed at increasing the consumption and value of canola oil and meal in domestic and global markets. It is being made through Agricultural and Agri-Food Canada's AgriMarketing Program, a five-year, up to $341-million initiative under Growing Forward 2.
The $9.5 million in government funding is being combined with industry contributions for a total investment of $19 million over five years.
The Canadian canola industry contributes over $19.3 billion annually to the Canadian economy, including supporting nearly 249,000 jobs.