WINNIPEG, MB, February 4, 2016 – Yesterday’s signing of the Trans-Pacific Partnership (TPP) starts the clock towards implementing a deal that will bring hundreds of millions more dollars from canola exports into communities to support stable jobs across the country. While negotiations finished in October 2015, yesterday’s signing means that the elimination of tariffs on canola is one step closer.
“Signing the TPP means that Canada is at the table in a deal that could increase the value of canola exports by up to $7801 million annually,” said Ed Rempel, President, Manitoba Canola Growers Association. “The elimination of canola oil tariffs in Japan is extremely important to our sector.”
Through the TPP, tariffs on canola oil and canola meal will be eliminated for exports to Japan and Vietnam. This will allow more value-added processing to occur in Canada, a target of the canola industry’s strategic plan, Keep it Coming 2025. Reaching the industry’s target of 14 million tonnes of processing in Canada from the current 7.7 million tonnes will support more jobs and provide growers with more delivery opportunities.
Manitoba Canola Growers Association is a grower-funded organization that is committed to maximizing net income for canola farmers through sustainable production. For more information visit www.canolagrowers.com.
¹Potential impacts of tariff elimination reflect a consensus of the canola value chain – which includes processors and exporters with in-depth knowledge of international market dynamics. Members were informed by research incorporating general equilibrium modeling that examined impacts of a TPP on each sector of the 12 countries’ economies under alternative scenarios. The study was completed by Dan Ciuriak, a former deputy chief economist for the Federal government’s department of Foreign Affairs and International Trade. For more information, view the report titled “Canola Market Impacts under Alternative TPP Scenarios”.
About Manitoba Canola Growers Association:
The Manitoba Canola Growers Association (MCGA) represents approximately 8,500 farmers in Manitoba that grow canola. MCGA uses the canola check off dollars for “seed money” to grow the future. Every dollar spent is leveraged at the local, national, and international levels, and studies show that every dollar invested by growers results in an impressive return on investment. MCGA is committed to maximizing net income for canola farmers through sustainable production. For more information visit www.canolagrowers.com or follow us on Twitter @CanolaGrowers.
Events and Communications Coordinator
Manitoba Canola Growers