(Screengrab from Merit Functional Foods video via YouTube)

Bidding open for Merit Foods for two more weeks

Stakeholder Burcon plans to put up 'compelling bid'

The fate of Winnipeg pea- and canola-based protein processor Merit Functional Foods won’t be confirmed until the end of April at the earliest. Merit, whose major shareholders include Vancouver plant-based protein firm Burcon NutraScience, U.S. agrifood firm Bunge and former executives of Hemp Oil Canada, was placed into receivership March 1. According to the first

(Dave Bedard photo)

Food sales grew but margins tightened in 2022, FCC says

Modest further growth expected this year

Food and beverages sales increased in Canada last year, even as margins hit an historic low and consumers chose Canadian less. According to the latest FCC Food and Beverage Report, released Tuesday, sales increased 11 per cent to $156 billion in 2022. These gains came largely from higher export values and strength in the grain


(Screengrab from Merit Functional Foods video via YouTube)

Merit Foods stakeholder looking to buy company

Burcon 'actively engaged' with company's receiver

One of the joint-venture owners of Winnipeg pea and canola protein processor Merit Functional Foods says it’s in talks to buy full control of the cash-strapped company. Two days after Merit entered a court-ordered receivership, Vancouver-based Burcon NutraScience announced Friday it “intends to submit a formal proposal to acquire the business.” Burcon said Merit’s receivership

Justine Hendricks, shown here in a 2019 video, is the new CEO of Farm Credit Canada. (Elevate International video screengrab video via YouTube)

EDC executive to lead Farm Credit Canada

Justine Hendricks to replace retiring Michael Hoffort

Canada’s federal farm lender is importing its next chief executive from Export Development Canada. Federal Agriculture Minister Marie-Claude Bibeau on Wednesday announced the appointment of Justine Hendricks, EDC’s senior vice-president and chief corporate sustainability officer since 2019, as FCC’s new CEO effective Jan. 30, 2023. As CEO, Hendricks replaces Michael Hoffort, an FCC staffer since


(Luca Piccini Basile/iStock/Getty Images)

Farm equipment demand to remain high, FCC says

Low inventories, high commodity prices and a good crop place pressure on demand

Demand for farm equipment should remain high through 2023 despite higher interest rates and projected price increases, according to Farm Credit Canada. The federal ag lender has released an outlook on the farm equipment market that analyzed data and trends that affect the market. While the outlook attributes much of the current demand to relatively

photo: canada beef

FCC launches sustainable beef incentive

Producers with a loan from FCC and certification from the Canadian Roundtable for Sustainable Beef can apply for an extra payday

Farm Credit Canada (FCC) wants to pay its beef sector clients for joining up with the Canadian Roundtable for Sustainable Beef (CRSB). On May 24, the company announced its FCC Sustainability Incentive Program. The program promises a yearly payment to producers who are certified through the CRSB, up to maximum of $2,000. Producers can reapply for the payment


(Dave Bedard photo)

Rate of rise in farmland value ‘surprised’ in 2021

Canada books 8.3 per cent year-over-year increase, FCC reports

MarketsFarm — Despite a year of economic uncertainty due to extreme weather, reduced crop yields and the COVID-19 pandemic, the value of Canadian farmland rose by its highest rate in four years, according to a report from Farm Credit Canada (FCC). FCC’s report, released Monday, revealed that the national average value of farmland increased by

apples

Early-pandemic calls to localize supply chains unfounded

With a year's worth of data, three agriculture economists revisit early-pandemic predictions on the food supply chain

With a year's worth of data, three agriculture economists revisit early-pandemic predictions on the food supply chain

A year of data shows early-pandemic calls for radical changes to food systems and risk management programs were unfounded, say some economists. Particularly in the early days of the COVID-19 pandemic, food supply chains struggled to adapt to changing consumption patterns and processors shut down due to virus outbreaks. “Into that void of uncertainty came


(Dave Bedard photo)

Farmland appreciation continues through pandemic year

FCC report puts Canada's average land value increase at 5.4 per cent

Economic churn across Canada from the global COVID-19 pandemic didn’t faze the country’s real estate market — nor its farmland market in particular — in 2020, according to the latest review from the federal farm lending agency. Farm Credit Canada on Monday released its 2020 Farmland Values report, showing an average increase of 5.4 per

fcc

Manitoba farmland values higher again in 2020

FCC says, on average, this province's land prices rose 3.6 per cent versus 5.4 per cent nationally

Average Manitoba farmland prices were up 3.6 per cent in 2020, slightly below the Canadian average increase of 5.4 per cent Farm Credit Canada (FCC) announced in a news release Monday. A combination of low interest rates, which cut the cost of borrowing money to buy land, and higher farm cash receipts, especially for crops,