OTTAWA — A recent Conference Board of Canada (CBoC) report suggests Canada is losing ground in global food and drink export markets.
CBoC’s Centre for Food in Canada released the report entitled, “Competing for the Bronze: Innovation Performance in the Canadian Food Industry,” which says new competition is leaving the country.
“Canada’s food processors are not increasing — in fact, they’re barely maintaining global market share in the face of competition from established and new players,” said Daniel Munro, principal research associate.
According to the report, low investment in research and the low priority placed on innovation is contributing to Canada’s dwindling global presence. Between 2000 and 2010, the country’s share of global food and drink exports dipped from 4.2 per cent to 3.2 per cent, before recovering in 2011, when the share rose to 3.9 per cent. While Canada lagged behind, Brazil’s share nearly tripled and China’s share almost doubled.
In a bid to help, the CBoC has listed several recommendations that will help Canada become a global innovator in food and drink export markets.