Canadian agriculture sector needs 30 thousand new farmers – Last Minute Economy News
According to a new report jointly prepared by the Royal Bank of Canada, the Consulting Group Center for the Future of Canada in Boston, and the Food Institute of the University of Guelph, more than 40% of Canadian farm operators are set to retire within the next decade. The report has raised concerns over a potential famine in the country if the gap is not closed. The report found that 66% of current farmers don’t have a plan for how or to whom they will transfer their jobs if they retire.
The report also highlighted that the number of farmers in the country had decreased from 346,000 in 2001 to 262,000 in the past 20 years, and agricultural lands have shrunk in parallel. The report urged Canada to take quick action and implement national strategies to overcome similar difficulties, as other countries did in the past.
The report warned that Canada’s agricultural sector would need to produce significantly more food for the growing world population, and failure to take action could lead to famine. The situation is considered critical, and urgent measures are required to address it.
To tackle this issue, Canada needs to attract more young people to the agricultural sector by offering various incentives such as loans, grants, tax breaks, and other resources. The government and the private sector should also collaborate to develop innovative technologies and encourage sustainable practices that could improve productivity and output.
In conclusion, Canada must take the report’s recommendations seriously and urgently address the growing gap in its agricultural sector to avoid a potential famine. Failure to act could have disastrous consequences not only for the country but also for the world at large.
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