How soybeans have plunged in the last decade, wiping out some $2.5 billion of value to the global soybean industry, according to a new report.
That’s because the soybean crop has been unable to keep pace with the rise in corn and other grain prices and is now worth less than it was in the late 1990s.
The report, by the Canadian Soybean Research Foundation, said the decline in the value of soybeans has occurred because of a variety of factors, including changes in the technology that make it more expensive to grow soybeans, the global environment and the inability of farmers to use the land for their own use.
The price of soy has also been falling as the world’s appetite for grain, which peaked in 2007 at $16.45 a bushel, has been declining for years.
The new report estimates that the value lost by soybean producers and exporters in the period is $1.7 billion.
The value of Canadian exports to the United States has fallen to $1 billion, according the report.
The impact is particularly noticeable in the United Kingdom, where the price of U.S. wheat has fallen by more than 70 per cent since the early 1990s, the report says.
The trade war that erupted in 2008 between the United U.K. and the European Union, in which the EU imposed tariffs on Canadian wheat exports, was particularly damaging to the Canadian wheat industry, said Dr. Paul MacKenzie, a research fellow at the CFSA.
“We had to change our strategy.
We had to get back to what was sustainable.
It was a huge disruption to the industry,” he said.
The U.N. has said the price wars that started in 2008, including the European and Canadian tariffs, will likely lead to a global food crisis.
Canada’s exports of soy to the EU and the U.J.S., which include U.P. soybeans and U.M. soy, have grown steadily over the past 10 years, rising to $7 billion in 2015 from $4.4 billion in 2013, the CFSE report says, citing a 2016 report from the Canadian Wheat Board.
“This is a significant blow to the soy industry,” said Dr MacKenzies, who has researched the industry for a decade.
A has lost $4 billion because of the EU’s tariffs and the decline of the Canadian economy.
The loss of that is a big loss to Canada’s agricultural sector.”
The report also says that soybean imports from China are now the second largest component of Canada’s wheat export.
China’s rise in demand has also led to a surge in prices of soy, which is now the most expensive grain on the market, at $17.80 a bushell.
It’s also the most popular grain to use for food in Asia, as it is cheaper to produce than wheat.
MacKendaes said Canada will need to take additional steps to ensure that it maintains its leadership in soy production.
“Canada’s wheat is the most important wheat in the world.
Canada has the most to lose by not investing in this important commodity,” he added.
“It will cost a lot of money for us to try to keep our position in the market and we have to be careful with our investments because the cost of wheat is going to go up in the coming years.”
Canada also faces an additional challenge in the global economy: climate change.
As a result of rising temperatures, farmers in the U