New FCC online economic analysis for Canadian agriculture and food businesses
Regina, Saskatchewan, February 17, 2012 – How do events in Europe today impact Canadian agriculture and the agri-food industry? This topic and more are discussed by the Senior Agriculture Economist at Farm Credit Canada (FCC) in the Economic Spotlight available online at www.fcc-fac.ca/economicspotlight.
In a 10-minute video, Jean-Philippe Gervais shares his opinion that the main challenge caused by the European situation comes from its potential impact on China. Europe is the main destination for Chinese exports and that warrants keeping an eye on a possible European downturn. The European debt crisis could slow down the economies of developing countries, and could also result in a decrease in the demand for agri-food commodities.
“Agriculture matters so my goal is to convey to farmers and food companies how current economic issues and trends impact their business and bottom line. Today, information is 24/7. Agribusiness owners are busy. They run complex, essential operations and work to feed Canadians and the world. Video is a quick, convenient way to summarize a lot of information with a lens of what it means for the agri-food industry,” says Gervais.
In this edition, Gervais also discusses world Gross Domestic Product growth rates, the value of the Canadian dollar, inflation and interest rates. He says that inflationary pressures should decrease in the near-term and that the continuation of low interest rates is good news for agribusiness.
“Because agriculture is FCC’s only focus – we only lend to one sector and don’t take deposits, like other financial institutions – this is another great opportunity for us to connect and provide additional value-added information to our 100,000 customers across Canada,” says FCC Chief Operating Officer Rémi Lemoine. “We want to help them continue to make solid business and borrowing decisions.”
New versions of the FCC Economic spotlight will be produced quarterly, and will be highlighted on the FCC homepage at www.fcc.ca, under What’s New.
As Canada’s leading agriculture lender, FCC is advancing the business of agriculture. With a healthy portfolio of more than $22 billion and 19 consecutive years of portfolio growth, FCC is strong and stable – committed to serving the industry through all cycles. FCC provides financing, insurance, software, learning programs and other business services to producers, agribusinesses and agri-food operations. FCC employees are passionate about agriculture and committed to the success of customers and the industry.
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For more information, photos or interviews please contact:
Éva Larouche (bilingual)
Farm Credit Canada