Key facts
- Canada's government has launched a National Food Security Strategy.
- The strategy aims to increase competition in the grocery sector.
- It will boost domestic food production and processing capacity.
- The plan includes C$3.2 billion in investments over ten years.
- The goal is to lower grocery costs and reduce reliance on imports.
Prime Minister Mark Carney's government has introduced Canada's first National Food Security Strategy, a C$3.2 billion initiative over ten years aimed at enhancing food affordability and resilience. The plan addresses concerns about high grocery costs and Canada's reliance on imported food, despite being a major global agri-food exporter.
The strategy focuses on four key objectives: spurring competition among grocery retailers, boosting domestic food production, expanding year-round cultivation of fruits and vegetables, and cutting red tape across the agricultural supply chain. Investments include C$1 billion for food infrastructure like terminals and hubs to benefit independent grocers, and nearly C$130 million for the Competition Bureau and Tribunal to combat anti-competitive practices.
Further funding is allocated to expand food processing capacity through a C$1 billion Agri-food Project Finance Fund and a C$150 million Food Security Fund for small and medium-sized businesses. An additional C$100 million will support collaborative food innovation. To increase year-round fruit and vegetable production, C$750 million is designated for greenhouses, vertical farms, and other enclosed growing spaces.
The government also plans to modernize regulations and speed up approvals for agricultural inputs to reduce the burden on farmers and producers, facilitating easier movement of Canadian products across provinces.