A consortium of private investors has announced a commitment of up to $5 billion to support Canada’s agricultural and agri-food sector by 2030.
The funding aims to accelerate the commercialization of breakthrough technologies and improve productivity across the entire value chain, Canadian Agriculture Minister Heath MacDonald said during a conference held in Ottawa. The group brings together more than 20 leading players from the finance, agriculture and technology sectors.
According to the minister, this major financial injection will help strengthen Canada’s position as a leader in agricultural and agri-food innovation, while supporting the sector’s long-term growth.
With the addition of a $2 billion commitment by the state-owned Farm Credit Canada (FCC) over the same period, total new investments planned for Canada’s agricultural and agri-food sector now amount to $7 billion by 2030.
Agriculture and agri-food remain a cornerstone of the Canadian economy, contributing $150 billion to GDP, generating more than $100 billion in exports and supporting 2.3 million jobs nationwide.
By comparison, a study by the Royal Bank of Canada (RBC) estimated total annual investment in agricultural innovation at around $270 million in 2021.
