b'S T R A T E G Yrespite for farmers. DespiteNew seed varieties offer ongoing bearish sentimentssome hope amidst economicCANADA OPENS AN INDO-PACIFIC TRADE OFFICE toward commodity prices,turmoil you might say, StampAS IT SEIZES A GENERATIONAL OPPORTUNITYthe expectation is for a moresays, emphasizing the rela-balanced cost environmenttionship between innovation in the coming seasons, Taylorand economic resilience. Canadas commitment to fostering stronger ties in the Indo-Pacific region took says. Examining the relativeFor example, the adventa significant step forward last month with the opening of the Indo-Pacific affordability of nitrogen fur- of higher-protein varieties andAgriculture and Agri-Food Office (IPAAO) in Manila, Philippines.ther emphasizes the urgencysolid stem cultivars exempli- The establishment of the IPAAO comes at an opportune time. At the CrossRoads for cost reductions.fies the transformative poten- Crop Conference in Calgary, Carlo Dade, director of the Trade & Investment Centre Despite this, farm incometial of genetic innovation,for the Canada West Foundation, said the continues to decline, not keep- offering farmers a competi- Indo-Pacific region is important to Canada ing pace with falling commod- tive edge in an unpredictable ity prices. This trend has led tomarket landscape. for several reasons. Indeed, the region a weaker margin environment,As Stamp and his custom- is crucial to the health of Canadas seed with farmers anticipatingers grapple with the ebb andindustry because:significant decreases in netflow of economic currents, the I ts home to more than half of the farm income for the upcomingimperative of strategic plan- worlds population and has a growing seasons. This could potentiallyning and adaptive resiliencedemand for food security and lead to demand destructionemerges as a recurrent theme.agricultural innovation.and pullbacks in investments. Harnessing the power The energy complex playsof new genetics is not just aIt offers a large and diverse market for a significant role in globalluxury but a necessity in anCanadian seed exports, especially forCarlo Dade is trade and market dynamics, with fluc- era defined by economic vola- canola, wheat, barley, soybean, andinfrastructure director for tuations in natural gas andtility, Stamp adds. pulses. the Canada West coal prices impacting theTaylor agrees. Foundation.nitrogen and pesticide sec- Seeds are the leastIts a source of investment and tors. However, recent trendsdiscretionary inputs in farm- collaboration for Canadian seed research and development, as well as a partner indicate a gradual decline ining. Of course, seed isntin addressing common challenges such as climate change, pests, and diseases.production costs, offeringjust about the crop itself; itsThis geographical pivot, encompassing Asia Pacific, presents a generational some hope for price relief inalso a carrier of a vast arrayopportunity and challenge for Canada, Dade told the crowd. As consumer the future. of technologies. From seeddemand burgeons globally, especially in emerging middle-class markets, the Despite the unpredict- treatments to gene editingpotential for agricultural exports grows exponentially.ability of the markets, Stampto new traits, seed serves as extols the transformativea conduit for innovation in power of new genetics andagriculture, Taylor adds. Its plant breeding in mitigatingendlessly fascinating to see such market volatility. Seedhow seeds evolve and adapt, ON THE WEBemerges as one of the fewand I believe they will remain aWHERE inputs that can actually helpkey vehicle for future agricul-farmers to be more profitabletural technologies as well. SW Watch our full-length webinar on this topic! Visit seedworld.com/seeds-for-success-webinar.amid economic uncertainty.ENDORSED BY 42/ SEEDWORLD.COMJUNE 2024'