Canada’s Crop Stocks will be at Record Lows

Agriculture Canada predicts that crop stocks in the country will hit a record low at the end of the year due to growing food supply problems caused by the epidemic and the Russo-Ukrainian war, according to news reported on June 28th.

The latest report notes that Canada’s food market and economic outlook are volatile. Production cuts are due to drought and continued strong global demands. Stocks of the country’s main farmland crops, including rapeseed and wheat, are currently down 30 percent from last year. Among them, rapeseed stocks fell by about 50%, while wheat stocks fell by 5 trillion tons.

At the same time, agricultural prices have risen sharply due to a heavy reduction in inventories, and increased fertilizer prices are causing a crisis in the food supply chain. As a result, Canadian farmers desperately need to find low-cost fertilizer alternatives that meet their farming needs.

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