Agriculture Sector| Analysis and Commentary| October 2020
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This document provides an analysis of the agriculture equipment sector. It includes sections on North American equipment sales, commodity and food prices, farm income in major countries, the top farming states in the US, food processors, the role of technology in farming, and the relationship between government and farming. The presenter is identified as an expert in various fields including risk management, business processes, and emerging technology.
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Agriculture Sector| Analysis and Commentary| October 2020
- 1. Agriculture Equipment Sector – Analysis and Commentary PAUL YOUNG CPA CGA NOVEMBER 12, 2020
- 2. Paul Young - Bio • CPA, CGA • Academia (PF1, FA4 and MS2) • SME – Risk Management • SME – Close, Consolidate and Reporting • SME – Public Policy • SME – Emerging Technology • SME – Financial Solutions • SME – Business Process Change • SME – Supply Chain Management Contact information: Paul_Young_CGA@Hotmail.com
- 3. Agenda North American AG Equipment Sales / July 2020 Commodity Prices Food Prices Farming Income Top Farming States Food Processors Technology and Farming Government and Farming Summary
- 4. North American Equipment Sales Source - https://www.aem.org/Market-Data/
- 5. Commodity Prices Source – BMO - https://economics.bmo.com/ en/publications/detail/341ab ac3-adf2-4a25-ad7f- 82a2a329f907/
- 6. Food Prices Canada Food Prices - https://cfjctoday.com/2020/07/30/food-prices-on-the-rise-amid-covid-19- pandemic/ USA Food Prices - https://www.reuters.com/article/us-usa-economy/us-consumer-prices-push-higher- high-unemployment-likely-to-keep-lid-on-inflation-idUSKCN2581SA World Food Prices - https://www.ontariofarmer.com/business/farm-business/world-food-prices-rising Food Prices - https://www.thepigsite.com/news/2020/10/new-study-explores-food-prices-around-the- world
- 7. 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
- 8. Top Farming States Source - https://www.statista.com/statistics/196114/top-10-us-states-by-number-of-farms/
- 9. 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
- 10. 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/
- 11. 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
- 12. 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.