On Wednesday, Minister of Agriculture and Agri-Food, Marie-Claude Bibeau, announced an investment of nearly $150,000 for the Canadian Wool Council to help build a more sustainable wool industry in Canada and spread awareness of the beneficial qualities of Canadian wool.
The funds will support the Council in conducting market research, promoting trade and export opportunities, connecting the sector with global best practices, and improving industry and consumer awareness through education and promotional activities.
“The demand for natural and environmentally friendly products continues to grow. By promoting the benefits of locally made, sustainable and biodegradable wool products, this initiative will help the Canadian wool industry tap into markets both domestically and around the world,” said Bibeau.
This announcement coincides with the release of the Council’s report, Carpet Plan (2022-2026), which maps opportunities for new and existing products in Canada’s carpet sector, which is valued at more than $367 million. The report identifies opportunities to grow Canada’s wool industry in international markets such as Europe, Australia and Asia.
One of these opportunities is a collaboration between the Canadian Wool Council, Global Affairs Canada (GAC) and Creative Matters Inc. to design and produce Canadian wool carpets at a Waterloo, Ontario plant for Canadian embassies in Copenhagen, Denmark and Abidjan, Ivory Coast.
“Canadian wool is renewable, sustainable and biodegradable. Today’s investment from the Government of Canada demonstrates a commitment to developing the full potential of this natural fibre and improving the livelihoods of Canadians across the value-chain – from producer to consumer,” said Matthew J. Rowe, CEO, Canadian Wool Council and the Campaign for Wool – Canada.
AAFC’s funding comes through the federal AgriMarketing Program, which aims to increase and diversify exports to international markets and seize domestic market opportunities.
Ontario Sheep Farmers, an organization representing over 3000 producers, has also provided financial support for this initiative.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
