Source URL: https://scoularview.com/

Agriculture is a vital sector in Canada, with the country ranking among the top producers globally. The Canadian Corn Market Council has reported that the domestic corn production has been steadily increasing over the past few years.

According to data from Statistics Canada, the average price of corn in Canada decreased by 4.5% in the period from February 2023 to March 2023 compared to the same month last year. The decrease is attributed to increased imports and lower domestic production.

The Canadian canola market is also subject to fluctuations in supply and demand. The price of canola oil has been influenced by factors such as global demand, weather conditions, and trade agreements. As per data from the Canola Council of Canada, the export value of canola decreased by 6.2% in the period from February 2023 to March 2023 compared to the same month last year.

Key Insights

• Average corn production in Canada is expected to increase by 1.5% in the period from 2023 to 2024, driven by better weather conditions and improved agricultural practices.
• The Canadian canola market is projected to experience a decrease of 2.5% in export value in 2023 compared to 2022, mainly due to decreased global demand for vegetable oils.

https://scoularview.com/