The announcement that Louis Dreyfus Company (LDC) will expand its Yorkton canola crushing facility was welcomed by the Saskatchewan government on April 11th.
Trade and Export Development Minister Jeremy Harrison stated, “This major investment by LDC is good news for Saskatchewan canola growers, workers, and the economy in Yorkton and across the province.” The ambitious goal of crushing 75% of the canola produced in the province is one of the ambitious goals of the 2030 Growth Plan that Saskatchewan is even closer to accomplishing as a result of this expansion. The province’s position as a global leader in agriculture value-added processing is bolstered by this investment, which will also boost Saskatchewan’s international exports.
Over two million metric tons will be the facility’s new capacity, which is more than double its current capacity. The Yorkton facility, which LDC first opened in 2009, currently employs approximately 120 people.
“This speculation upholds the gathering’s essential development plans by supporting center merchandizing exercises, for this situation with extra ability to begin and handle Canadian canola seeds to give sustenance to individuals and domesticated animals,” LDC CEO Michael Gelchie said. ” In addition, it accelerates our contribution to a global energy transition that we are thrilled to be a part of and positions LDC as a strategic feedstock provider for producers of renewable energy.”
The expansion not only contributes to the canola crushing objective, but it also moves the province closer to achieving a number of other important goals outlined in Saskatchewan’s Growth Plan, including:
- Grow private capital investment in Saskatchewan to $16 billion annually;
- Increase the value of exports by 50 per cent;
- Grow Saskatchewan’s agri-food exports to $20 billion; and
- Increase agriculture value-added revenue to $10 billion.
In 2022, canola seed and canola oil accounted for $3.5 billion and $2.7 billion, respectively, of Saskatchewan’s top three agri-food exports.
The additional crushing line for canola is expected to be built later this year.
