What country is Canada’s largest trading partner for agriculture?
What’s the trade-off with food production in a globalized world? CLICK HERE TO EXPLORE ECONOMIC PARTNERSHIPS, GLOBALIZATION AND TRADE. Continue to explore below, then build your competencies.
Infographic from Agriculture and Agri-Food Canada. The United States and Canada – A Strong Partnership in Agriculture.
21st century supply and demand
Globalization has resulted in efforts to knock down trade barriers, reduce trade regulations and implement privatization policies. These policies include a focus on economic integration and trade liberalization.
- Canada remained the 5th largest exporter of agricultural commodities in 2017, a position held since 2011.
- Canada exports a wide variety of food and agricultural commodities, totaling US$46.2B in 2017.
- Oilseeds, cereals and meats represent 41 percent of all exports of agriculture and food products. All three categories recorded export growth in 2017.
- The value of meat exports increased by 6.6 percent over 2016, cereals by 11.6 percent and oilseeds by 9.4 percent.
- Canadian exports of agriculture, agri-food, fish and seafood to all countries in 2017 rose to $64.6 billion, a $2 billion increase from 2016 exports.
- On a value basis, it is estimated that in 2016 just over one-half of the value of primary agricultural production in Canada was exported either directly as primary agricultural commodities or indirectly as processed food and beverage products.
- Canadian exports of agricultural commodities totaled US$25.9B, accounting for 5.2 percent of the world’s total agriculture exports.
the complexities of globalization
Globalization is a complex process that affects the world’s food and agricultural economy in numerous ways.
Factors such as cheaper and faster transportation, developments in communication and information technology and trade liberalization have caused the rapid expansion of trade. These factors have also resulted in the rise and growing influence of transnational companies. There are many transnational companies that are involved with food production, including Bayer, Monsanto, Dow and Dupont.
The globalization of food production has some benefits. Technology that helps improve farming practices is shared and implemented globally. The expansion of supermarkets in developing countries have made food more accessible and sourced it from around the globe. However, there has also been a rise in consumption of processed, energy dense, non-traditional foods which are often high in sugar, salt and harmful fatty acids and poor in micronutrients.