Bullish economic forecast for ranchers and farmers

Posted Apr 26, 2012 11:40 am.

This article is more than 5 years old.

BMO Financial has released it’s 2012 agriculture outlook.

The bank predicts the Canadian Agricultural sector will post growth of 2.5 to 3 per cent this year, with higher input costs and the strong loonie capping future growth after that.

BMO’S National manager for agriculture says rising demand from emerging markets is increasing demand for Canadian grain, dairy and meat products.

David Rinneard says on a downside, consumers will likely need to budget a little more to cover the cost of their own food basket.

Canada is the world’s fifth largest agriculture exporter with the agricultural sector accounting for one in eight jobs in the country.

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