2. Paul Young - Bio
• CPA, CGA
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: paul_young_cga@outlook.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
3. Agenda
North American AG Equipment Sales
Commodity Prices
AG Prices – Canada
Preliminary Crop Estimates – Canada
Oilseeds
Energy Prices
Carbon Tax
Food Prices
Hospitality Sector
Farming Income
Top Farming States
Food Processors
Technology and Farming
Government and Farming
Debt
Rail Car Loading
Summary
8. Hospitality Sector
Hospitality sector continues to face labour shortages and high food costs
Source - https://www.slideshare.net/secret/4Akxh6WTy4BChK
9. Blog – Food Prices
Blog - With Demand Soaring, Booming Food Sector Turns to Food Contract Manufacturing
As demand for food products increases nationwide, businesses are frequently turning to food contract
manufacturing companies to meet that increased need rather than adding additional capacity internally.
Anticipating that demand will eventually return to normal levels, food producers can work with an experienced
co-packer to enhance their operational efficiency without needing to make substantial asset or equipment
investments in-house that may sit unused later on.
Sourcing for food contract manufacturing on the Thomasnet.com platform is up 133% year over year and up
277% over last quarter averages.
Source - https://www.thomasnet.com/insights/with-demand-soaring-booming-food-sector-turns-to-food-contract-
manufacturing/?ecms_id=03a9e6f7-1a59-4bb8-88af-
2bd41a26780d&ecms_short=ART5898&doc_type=ted_video_article&parent_id=8250e2ab-aea8-49ec-ad90-
fe73f30b2122&utm_content=featuredvideo&linktype=title&channel=email&campaign_type=thomas_industry_update&ca
mpaign_name=tiu211004&utm_campaign=tiu211004&utm_medium=email&utm_source=thomas_industry_update&tinid
=221763045
My work - https://www.slideshare.net/paulyoungcga/food-and-beverage-analysis-and-commentary
10. Farm Income
Farming Income in Canada has been struggling for the past few years -
https://www150.statcan.gc.ca/n1/daily-quotidien/191126/dq191126b-eng.htm
USA farm income and aid - https://www.agriculture.com/markets/newswire/us-farm-income-expected-to-
rise-in-2019-but-only-because-of-government-aid
AG subsidies - https://www.agriculture.com/news/business/world-farm-subsidies-hit-2-billion-a-day
Net farm income, a broad measure of profits, is forecast to decrease $9.8 billion (8.1 percent) to $111.4
billion in 2021. In inflation-adjusted 2021 dollars, net farm income is forecast to decrease $12 billion (9.7
percent) in 2021 after increasing $37.8 billion (44.2 percent) in 2020 to its highest level since 2013. Despite
this decline, 2021 net farm income would be 21 percent above its 2000-19 average of $92.1 billion.
https://www.ers.usda.gov/topics/farm-economy/farm-sector-income-finances/highlights-from-the-farm-
income-forecast/
19. 2020 Farm Income Analysis
Blog - Farm Income
and Expenses - Canada.pdf
20. 2020 Farm Income Analysis
Blog - Farm Income
and Expenses - Canada.pdf
21. Top Farming States
Source - https://www.statista.com/statistics/196114/top-10-us-states-by-number-of-farms/
22. Food Processors
Source - www.fao.org or https://www.globenewswire.com/news-release/2019/09/04/1910664/0/en/Food-Processing-Market-to-Exceed-4-Trillion-
by-2024-Key-Trends-Analysis-Opportunities-to-Succeed.html
23. Plastic Greenhouses / CO2
35% of China’s vegetables come from plastic green houses -
https://www.nextbigfuture.com/2021/03/plastic-greenhouses-provide-35-of-chinas-vegetables.html
Greenhouse farming - https://gulfnews.com/uae/environment/popularity-of-greenhouse-farming-
options-on-the-rise-1.842642
South Korea - https://www.hortidaily.com/article/9306173/overview-vegetable-horticulture-in-south-
korea/
Global Market - https://www.databridgemarketresearch.com/reports/global-plastic-greenhouse-market
Ontario/Greenhouses - https://windsor.ctvnews.ca/ontario-government-investing-3-6-million-toward-
innovation-projects-in-the-greenhouse-sector-1.5285128
NZ and the Middle East - https://www.freshplaza.com/article/9307955/new-zealand-has-a-huge-tech-
opportunity-in-the-middle-east-s-growing-horticulture-industry/
24. Technology and Farming
AI is transforming farming - https://www.forbes.com/sites/cognitiveworld/2019/07/05/how-ai-is-transforming-
agriculture/#1fa34bec4ad1
AI and farming - https://customerthink.com/the-role-of-artificial-intelligence-in-agriculture-sector/
IBM and farming - https://farmtario.com/news/ibm-expands-artificial-intelligence-platform-into-agriculture/
RPA and Farming - https://blog.accubits.com/robotic-process-automation-in-agribusiness/
IBM and Expert Farming - https://www.prnewswire.com/news-releases/farmplan-using-ibm-pairs-to-predict-blackgrass-
weed-before-it-damages-crops-301151067.html
AG App - https://www.techrepublic.com/article/farming-assistant-app-agrolly-wins-ibms-call-for-code-contest/
Smart farming - https://farmingfirst.org/2020/10/transforming-agriculture-through-smart-farming-from-data-ownership-
to-open-data/
Telecom/Farming - https://ca.finance.yahoo.com/news/agriculture-analytics-market-reach-2-133100885.html
Blockchain and Food Protection - https://blog.trustbix.com/how-blockchain-can-support-food-supply-chain-management
25. Government / Farming
Elimination of trade barriers - https://www.slideshare.net/paulyoungcga/what-is-next-for-for-global-
trade-protectionism
More emphasis on local supply chain management solutions -
https://www.slideshare.net/paulyoungcga/tranformation-of-supply-chains
Tax fairness and regulatory reforms - https://www.slideshare.net/paulyoungcga/does-the-world-need-
a-wealth-tax
Government provides direct subsidies and/or loans to farmers
Government needs to revisit all their programs to ensure various programs are efficient and effective -
https://www.slideshare.net/paulyoungcga/market-food-protein-market-analysis-and-commentary or
https://www.oag-bvg.gc.ca/internet/English/parl_lpt_e_934.html or https://thetyee.ca/Opinion/2016/03/08/BC-
Carbon-Tax-Failure/
Automation can help with automation of audits - https://www.slideshare.net/paulyoungcga/internal-audit-and-
performance-base-auditing
30. Summary
Farmers continue face issues with input costs
Improving crop and food production is a focus area by both the private and public sectors
Blog – Agriculture and Food Processing Sector Analysis and Commentary – April 2023
Agricultural and food processing sector continue to face many challenges.
Additional sources
Agriculture Equipment - https://www.wicz.com/story/48767785/Farm-Agricultural-Equipment-Market-
Growth-Prospects-2023-by-Top-Leading-Manufacturers-Future-Growth-Potential-Sales-Value-Business-
Strategies-New-Developments-Ideas-and-Prediction-To-2030
Food prices and supply - https://retail-insider.com/retail-insider/2023/04/are-canadians-buying-less-
groceries-with-ongoing-inflation-op-ed/
Food processing top technologies - https://blog.gitnux.com/food-processing-industry-trends/
Farming top technologies - https://www.plugandplaytechcenter.com/resources/how-automation-
transforming-farming-industry/
Labor - https://thoughtleadership.rbc.com/farmers-wanted-the-labour-renewal-canada-needs-to-build-
the-next-green-revolution/
Farming income - https://www150.statcan.gc.ca/n1/en/daily-quotidien/230331/dq230331e-
eng.pdf?st=TM9pUVM6
Input costs - https://www.farmcrediteast.com/en/resources/Industry-Trends-and-
Outlooks/Reports/20230401KEP_CashGrain
ESG Reporting - https://www.investmentexecutive.com/news/from-the-regulators/accelerating-work-on-
sustainability-standards/
Vertical farming - https://www.foodnavigator.com/Article/2023/04/25/vertical-farmers-come-out-
swinging-amid-industry-struggles-to-stay-upright