Norgate said strong demand and declining supply in world markets have led to higher commodity prices and Saskatchewan export growth in 2021.
“Saskatchewan has exported more than $ 200 million in agri-food products to each of 18 different markets internationally,” he said. “So we not only have very strong trading partners in our top three [markets]but we also have a lot of trading partners growing up around the world. ”
Among the most exported goods, rapeseed was the highest, followed by rapeseed oil, durum wheat, lentils, hard peas and dried peas, which exported more than a billion dollars.
Saskatchewan exported more than $ 2.6 billion last year in each of the key sectors of crop production, cereals, oilseeds, legumes and edible oils.
Norgate noted that Saskatchewan has a strong rapeseed crushing sector and annually exports about 1.5 million metric tons of canola oil. In 2021, rapeseed oil exports increased by 50 percent from $ 1.8 billion in 2020 to $ 2.7 billion in 2021.
“It was a significant increase to show that the demand for vegetable oil is growing … It was seen in rising prices,” Norgate said.
Korea is a growing market for Saskatchewan rapeseed oil, and saw exports grew by more than 100 percent, from $ 71 million in 2020 to $ 146 million in 2021.
Norgate estimates that exports in 2022 will decline compared to the previous year, reflecting the impact of the drought on production in 2021.
“Part of our exports in 2021 were in the previous harvest year, when we had a very high harvest …” he said. “We expect that in the 2022 calendar year, our exports will decline as a result of last year’s difficult growing season.”
Norgate went on to say that agriculture in the province and Saskatchewan plan to continue to develop export markets for local agricultural products.
“We are helping to connect with international buyers and increase the reputation of Saskatchewan and Canada as a strong and reliable supplier of agri-food products worldwide through our new sales offices,” Norgate said. “We hope to open up more opportunities for exports through these sales offices in the coming years.”
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https://farmnewsnow.com/2022/02/20/global-demand-fueled-strong-year-for-ag-exports/ Global demand has contributed to a strong year on fire exports