The Canadian plant and flower growing industry has come on tough times in the past years. Gardening has become less popular and international trade conditions have been unfavorable. Correspondingly, production is down – and the market will continue to decline, market research organization IBISWorld predicts.
The Canadian plant and flower producing industry has in fact seen its revenue decline by an average 1.8% per year in the five years to 2014. Exports have even fallen an annualized 2.7%, to 290 million US Dollars over the same period. Additionally, increasing import penetration – foremost by Colombia – has further pushed out domestic producers. Industry revenue currently stands at an estimated $1.8 billion U.S. Dollars annually.
In the past five years, the Canadian dollar has also appreciated, making Canadian products more expensive on the global market. As a result, demand from export markets has fallen significantly, pushing the plant and flower growing industry’s revenue downward.
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