A new report commissioned by Cereals Canada has found that Canadian-grown wheat, barley, durum, and oats had an estimated total economic impact of $68.8 billion, including more than 370,000 Canadian jobs, and $27 billion in wages, a March 14 news release said.
“The cereals value chain is a major contributor to Canada’s success,” Dean Dias, Cereals Canada CEO, said in the report. “The report reinforces the vital role that the Canadian cereals industry plays in Canada’s economy.”
The report entitled “The Economic Impact of Wheat, Durum, Barley, and Oats on the Canadian Economy: 2022” highlights the significant contribution from these four crops, the release said. Cereals Canada hired LMC International, an independent economic consulting firm focused on the agriculture and agribusiness sector, for the study.
The report outlines the impact of wheat, barley, durum, and oats on the Canadian economy through crop production, transportation, and processing, and provides both the direct and total revenue, full-time equivalent jobs, and total wages generated by each crop, the release said. Averaged over the past three years, the direct economic impact on the Canadian economy was $25.9 billion per year.
- The direct economic impact on the Canadian economy from the four cereals averaged $25.9 billion per year
- 141,000 paid full-time equivalent jobs are generated directly by the four crops, in addition to an estimated 28,000 family members who support and are supported by farming operations
- The direct wage impact of the four crops averaged $9.1 billion
Factoring in the revenues, jobs, and wages generated both through take-home spending by those whose jobs are tied to the four cereal crops, and through outsourced work undertaken by industries that support the cereal supply chain, the estimated total economic impact was $68.8 billion over the same time period.
- The estimated total impact on the Canadian economy from the four cereals averaged $68.8 billion per year
- Over 370,000 paid full-time equivalent jobs are supported by the four crops, with supported family members bringing the total closer to 400,000
- The total wage impact of the four crops averaged $27.0 billion
The report further breaks down the cereals industry’s economic impact regionally, to demonstrate how the geographical spread of the impacts is closely tied to the location of the major industries in the supply chain, the release noted.
The full report can be viewed online.