Today we’re talking about cereals. And no, we don’t mean Frosted Flakes and Froot Loops.
Driving the news: Non-profit grain industry group Cereals Canada will launch a funding campaign to build a new facility in Winnipeg. The building is projected to cost $100 million, with the group seeking money from its members, producers, and all levels of government.
Why it matters: Cereals make up the world’s largest crop group, including big names like wheat, rice, and oats. They are also Canada’s top agricultural export, with its homegrown grains exported to over 80 countries and generating an estimated $10.8 billion in GDP annually.
- Cereals Canada doesn’t sell grains. Instead, it runs programs to support grain farmers and processors, and conducts market outreach initiatives to promote Canadian grain globally.
- However, some major members are against the funding campaign, and are even questioning why the body still exists and signalling their intention to leave.
Bottom line: New facility or not, the future for Canadian grains is looking bright. Per the USDA’s Foreign Agricultural Service, Canada’s total production of principal grains (which is mostly made up of cereal grains) is projected to grow by 4.9% this marketing year compared to last.—QH