Canada launches National Food Security Strategy

Prime Minister, Mark Carney, launched Canada’s first-ever National Food Security Strategy. Backed by more than $3 billion in investments over ten years, this strategy aims to break open the market for independent retailers, boost domestic food production, and build a stronger, more independent, and more affordable food system for all Canadians.

The strategy has four objectives:

1. Spur grocery store competition and create more choice for Canadians
2. Boost domestic food production across Canada
   1. Launch a new $1 billion Agri-food Project Finance Fund through Farm Credit Canada (FCC) to provide seed capital financing for businesses to expand food processing capacity.
   2. Establish a $150 million Food Security Fund to help small and medium-sized businesses upgrade their equipment to grow, produce, and process more food in Canada.
   3. Create a $100 million Collaborative Food Innovation Fund to help producers expand agri-food processing.
3. Grow fruits and vegetables year-round
4. Cut red tape across the agricultural supply chain
   1. Modernise key regulations; speed up approvals for seeds, feed, fertilizers, and veterinary products; and reduce backlogs that slow down the system to reduce the regulatory burden on farmers and producers.
   2. Help provincially licensed food businesses meet federal requirements so that a Canadian product made in one province or territory can more easily reach a shelf in another.