Canada’s $40 billion dairy industry is growing faster than the industry expected
Canada’s dairy industry, the world’s second-largest agricultural industry, is seeing double-digit growth in recent years, according to new research from a Canadian research firm.
Lami Wood Products and the Canadian Dairy Council (CCC) conducted a survey of Canada’s biggest dairy producers to find that they expect the industry will grow by about 4% annually over the next decade, based on projections from the country’s dairy sector regulator, the Canadian Food Inspection Agency.
The Canadian Dairy Industry Association predicts dairy farmers will be able to earn an average of $2,800 a year over the same period.
That is well above the average annual pay of about $1,800 in the U.S.
However, the dairy industry’s economic growth in Canada is not as rapid as expected because of a lack of new dairy farms and a weak economy.
The CCC reported that only about a quarter of Canada is producing milk and eggs.
Lamis Wood Products is one of the few Canadian dairy producers that is not struggling with a lack to produce milk.
The company announced plans in November to invest more than $1 billion in new plants in the Ottawa area.
The company is also looking to add a second plant in Winnipeg and is working on a third in southern Ontario.
Lamy Wood Products expects to add two additional plants in 2019.LAMIs Wood Products in a recent press release said the company has recently launched a pilot program in the eastern part of Ontario to introduce an all-grain milk that is higher in protein than traditional whey.
The move, however, was short-lived because of the weather, and the company said it will begin producing all-grains milk again this year.
In addition to the $40.5 billion dairy sector, Lami Wood also owns and operates three other businesses: a manufacturing and packaging company, a wholesale warehouse, and a retail store.