China might no longer want our canola, but the Philippines might want our lobsters.
Driving the news: Agriculture Minister Heath MacDonald is claiming that Canada can take advantage of the ill will against the U.S. and expand food exports to the Indo-Pacific region. His comments come after visiting Indonesia, Singapore, and the Philippines on a trade mission this month.
Big picture: Agriculture was already a top focus in Canada’s mission to expand Indo-Pacific trade, with Ottawa opening an agriculture office in the Philippines last year. The region has big upside as a rising middle class stokes demand for more diverse, premium food options.
- In-demand exports that Canada could deliver include wheat, pork, and seafood — in particular the lobster, crab, and salmon catches that Canada is world-renowned for.
- Canada is also the top-ranked nation globally for food safety, making it an extra attractive exporter for Indo-Pacific nations with high levels of anxiety over food safety.
Why it matters: While the Indo-Pacific region already accounts for a quarter of total agricultural exports, getting those numbers even higher could be key to helping offset declining shipments elsewhere, particularly with top agri-trade partners the U.S. and China.
Zoom out: Speaking of which, China slapped a 75.8% levy on Canadian canola exports last week and has now reportedly ordered a shipment of canola from Australia for the first time since 2020. Maybe Indo-Pacific pals can help make up this potential $4.9 billion loss.—QH