$388 million is going into Saskatchewan’s ag industry
Agriculture and Agri-Food Canada and Saskatchewan's Ministry of Agriculture have created the Canadian Agriculture Partnership (CAP) to invest in "strategic agricultural initiatives" in the province
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Regina, Sask. – The governments of Canada and Saskatchewan have announced a sizable investment program that will support agricultural initiatives in the province.
The Canadian Agriculture Partnership (CAP) will see $388 million invested in “strategic agricultural initiatives…over the next five years,” says a statement from Agriculture and Agri-Food Canada (AAFC) and Saskatchewan’s Ministry of Agriculture.
The statement says the agreement came into effect on April 1, 2018 and that it replaces the Growing Forward 2 framework. The federal government will contribute 60 per cent and the province will fund 40 per cent of every dollar spent.
CAP’s goal is to make investments in six priority areas over the next five years – all related to agriculture.
The areas, as listed in the statement, include:
- Science, Research and Innovation: $191.5 million investment to build on Saskatchewan’s competitive advantages by advancing science and research capacity.
- Environment and Climate Change: $70.5 million to support the long-term resiliency and sustainability of the sector.
- Risk Management: $48 million to support the sustainability of the sector by anticipating, mitigating and responding to risks.
- Value-Added Agriculture: $30 million to support growth in the value-added and agri-food processing sector.
- Public Trust: $8.5 million to support public trust initiatives.
- Trade and Market Development: $7.5 million to assist industry in expanding domestic and international trade opportunities.
The statement adds that the partnership also “includes a complete and effective suite of business risk-management programs to help farmers manage risks that threaten the viability of their farm.”
For more on CAP, click here.