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Agriculture Report

Ethanol Boost Could Be Good Opportunity

Fadi

By Fadi Didi

Ontario's boost to ethanol mandate in gasoline from looks good on paper for grain farmers.


Length: 1:04

Ontario's boost to the ethanol mandate in gasoline from five per cent to 10 per cent by 2020 looks on paper like a huge opportunity for grain farmers.

You would think doubling the demand for grain in a sector that buys as much as 40 per cent of Ontario's corn would be good news.

However, officials say it likely won't boost the price of corn or drive up demand.

The ethanol mandate for gasoline was only ever a minimum requirement.

In many cases, gasoline in Ontario already contains seven or eight per cent ethanol already.

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With athletes from nearly 100 countries coming to South Korea for the Winter Olympics, the spotlight is also focusing on the nations agriculture industry.

According to the world bank, South Korea's projected GDP for 2017 is nearly 1.45 trillion U.S. dollars.

Agriculture makes up 2.6 per cent of the country's GDP, or roughly 37 billion dollars.

There are 25 million people in the labour force with 1.6 million people employed in the agricultural sector.

When it comes to land, South Korean farmers cultivate 17,560,000 hectares (43,391,704 acres) of land.


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