Agriculture and Farm Equipment Sector| October 2021 (Revised)
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The world continues to face challenges due to supply chain disruption. More needs to be done by all levels of government to support food security. 1. Food Prices - https://financialpost.com/pmn/business-pmn/food-prices-may-sow-seeds-of-next-inflation-crisis-nomura-says 2. Food prices - https://geneticliteracyproject.org/2021/11/12/food-prices-have-increased-by-33-worldwide-and-costs-are-continuing-to-rise-how-can-we-boost-productivity-to-feed-a-growing-population/ 3. Integration - https://india.mongabay.com/2021/11/integrated-farming-systems-emerge-as-possible-climate-adaptation-solution/ 4. Taxes and Cash Flow - https://www.producer.com/opinion/excess-cash-can-be-tax-problem-for-farming-corporations/ 5. Climate change - https://www.bloomberg.com/news/features/2021-11-10/farmers-battle-climate-change-food-crisis 6. Vertical farming - https://www.itv.com/news/wales/2021-11-11/what-is-vertical-farming-and-could-it-be-a-solution-to-tackling-climate-change 7. Farming - http://thegrower.org/node/3580 8. Innovation - https://www.macleans.ca/economy/how-blockchain-could-revolutionize-food-supply-chains-and-lower-your-grocery-bill/ 9. Food production - https://ipolitics.ca/2021/11/03/canadas-food-production-limited-by-lack-of-labour-and-tech-report/ 10. Innovation - https://foodsafedrains.com/blog/8-innovative-food-technology-trends-for-2021
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Agriculture and Farm Equipment Sector| October 2021 (Revised)
- 1. Agriculture Equipment Sector – Analysis and Commentary PAUL YOUNG CPA CGA NOVEMBER 12, 2021
- 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@hotmail.com LinkedIn: https://www.linkedin.com/in/paul-young-055632b/ SlideShare - https://www.slideshare.net/paulyoungcga Twitter: https://twitter.com/paulyoungcpa Youtube - https://www.youtube.com/user/youngercga1968/videos
- 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 Summary
- 4. North American Equipment Sales Source - https://www.aem.org/Market-Data/ US-Month-Ag-Report -10-2021.pdf CAN-Month-Ag-Repo rt-10-2021.pdf
- 7. Carbon Tax – Canada Carbon Tax / Farmers – Wheat Farmers - https://wheatgrowers.ca/ Greenhouse growers / Carbon Tax Exemptions - https://www.greenhousecanada.com/bc-greenhouse- growers-get-permanent-carbon-tax-relief-20363/ Grain Dryer - https://www.world-grain.com/articles/13262-canadas-grain-dryer-program-tackles- efficiency Carbon Tax hike? - https://www.sherwoodparknews.com/opinion/editorials/editorial-liberals-mum-on- hiking-carbon-taxes/wcm/a55ed40c-d289-4023-802b-4d2a1335cdc5
- 8. Hospitality Sector Blog – Food Services and Hospitality Sector – Canada and the World – August 2021 The food and beverage sector continue to face many challenges. https://www.slideshare.net/paulyoungcga/hospitality-and-food-service-sector-canada-august-2021
- 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/
- 11. Canada and Farm Receipts SOURCE – STATS CANADA Farm Income - 202109.pdf
- 12. Farm Receipts Source – Stats Canada
- 13. Top Farming States Source - https://www.statista.com/statistics/196114/top-10-us-states-by-number-of-farms/
- 14. 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
- 15. 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/
- 16. 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
- 17. 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
- 19. USA Farm Debt Source - https://farmpolicynews.illinoi s.edu/2021/06/farm-lending- remains-strong-in-2020- american-bankers- association-report/
- 20. Summary All levels of government need to work together to better support the agriculture and food processing sector The world needs to unite to fixed issues with WTO More balanced between environmental and economic policies.