Farmers must get into canola production (Canadian term for rapeseed, see note below), because the biodiesel industry is booming.
So says former director of the Canadian Canola Growers Association, Brad Hanmer.
He delivered the speech to 80 members of the Saskatchewan Farm Producers Association (APAS), gathered in Yorkton, in the east-central part of the province.
He suggests that farmers invest in canola because he says demand for the oilseed will double by 2015 due to the growing popularity of biodiesel.
This biofuel is made from animal fat or vegetable oil. Various plants can produce it, but the canola flower is the most popular right now, according to the speaker.
Canola prices could increase in the coming years.
A farmer from Gravelbourg, Roland Levac, views a rise in the price of canola very positively: “It's good for the whole province. A little price hike is going to make a huge difference to us, maybe not today, but maybe in five years. "
The federal government has just injected $ 11 million for projects relating to the production of biofuels that include farmers.
This funding is intended to help farmers, associations or communities who wish to take advantage of opportunities related to the production of biofuels.
Note: the common name in French for "canola" is colza. Canola is an English word developed after the controversy over rapeseed oil in the 70s which led to the development of a "new rapeseed oil". In English, the term has been changed from Rapeseed oil to Canola oil.