Agriculture in Canada - Trade

Trade

The marketing and economic movement of Canada's various agriculture commodities has been a challenge. Domestic trade encompasses providing goods within Canada provincially and inter-provincial. Support agencies and services such as storage, railways, warehouses, stores, banking institutions all affect domestic trade. Trade of wheat from the Canada's prairies are monitored by the Canadian Wheat Board. Canada's depression of 1882–1897 brought a low of 64¼ cents per bushel ($24/t) as of 1893. This era during Laurier's administration saw thousands of homesteads cancelled. Wheat prices soared during World War I. In 1928, Canada exported high quantities of wheat, flour, and goods. The depression took its toll on Canada as exports sunk to approximately 40% of their 1928 amount. European markets stopped needing to import Canadian wheat as they started growing their own varieties, and then World War II events put a blockade on trade to European markets. Canada became more of an industrial entity during the time of this industrial revolution, and less of an agricultural nation. Following World War II the United Kingdom entered into contract for a large amount of agricultural commodities such as bacon, cheese, wheat, oats and barley. After the United Kingdom, the United States is Canada's largest external trade partner. Between 1943 and 1953, the average export of Canadian wheat was 347,200,000 bushels (9,449,000 t). The three year International Wheat Agreement of 1955, which really lasted 6 years, included exports of wheat or flour to 28 of 44 importing countries including Germany, Japan, Belgium, UK, and the Netherlands.