Commodity prices will rally and markets will spring back. This only serves to aggravate the overall problem, forcing other governments to respond, as well. So, this is one of the things we will be attempting to put an end to at the next round of world trade talks on agriculture, set to begin late next year. These same businesses at every level of the industry are using technology to jack up productivity and ratchet down costs. Farmers use satellites to determine and adjust how much fertilizer and pesticide each square metre of land needs to produce maximum yields.
Processors use robots and lasers to produce the perfect cuts of meat consumers demand.
But, food companies are not just focused on the domestic market. They have a much broader outlook, keeping a close eye on trends in key export markets, and working rapidly to capitalize on burgeoning opportunities. Let me assure you, the opportunities are out there. World trade in agriculture and food products is expected to increase by more than 250 billion dollars U.S., by 2005. And while the United States remains the sector s most important customer outside our domestic market, Canadian firms are forging strategic alliances to take advantage of markets opening up elsewhere, including in developing countries.