Soy Canada says it now has a better idea the economic force the crop has become in this country.
It comes from an analysis done for Soy Canada by MNP LLP.
Among its conclusions ...
- soybeans contribute 5 point 6 billion dollars to Canada's GDP
- the crop supports 54 thousand full time jobs across Canada
- and it generates for than 2 point 3 billion dollars in farm cash receipts.
According to the analysis, those farm cash receipts have gone up by 200 per cent in the past 10 years.
Soybean production and seeded acreage has also doubled in that ten year period.
Soy Canada points out Canada is now the seventh largest producer of soybeans in the world and the fifth largest exporter.
Executive Director Jim Everson says the analysis confirms soybeans have become a major economic force in Canada.
Ontario, Quebec, Manitoba and the Atlantic Provinces are cited as the provinces getting the most economic benefit from soybeans with the importance of the crop steadily increasing in newer production regions, such as Saskatchewan.
