Connect with us

Economy

Buy BC funding available to support food security, economy | BC Gov News – BC Gov News

Published

 on


Food and beverage producers and processers in the province can now apply for the next round of Buy BC funding to help make it easier for British Columbians to identify and choose products that are made in B.C.

“The Buy BC program is helping business all over the province grow awareness, increase sales and reach new markets within B.C.,” said Lana Popham, Minister of Agriculture, Food and Fisheries. “British Columbians know when they see the Buy BC logo, they can trust the high-quality product is from a local B.C. community and they are supporting their neighbour and the people dedicated to supplying local food and beverages to consumers in B.C.”

Buy BC is a provincewide marketing program focused on building greater consumer awareness, and demand and sales of local agriculture, food and beverage products. It is supported by several components, including Buy BC logo licensing, cost-shared funding for industry-led Buy BC marketing activities, retail partnerships, promotional activities and events, and a comprehensive marketing campaign.

Since the program was relaunched in 2018:

  • more than 240 industry-led marketing projects have received Buy BC cost-shared funding; and
  • more than 625 B.C. companies have been licensed to use the Buy BC logo.

One Buy BC funding recipient is Fraser Valley Specialty Poultry in Chilliwack, which offers specialty poultry to customers around the province, such as ready-to-eat duck products, goose, squab, Loong Kong chicken and chicken raised without the use of antibiotics. The funding is helping launch a marketing campaign with print, broadcast, digital ads and a variety of in-store marketing materials intended to increase sales and attract new customers in-store and through their online store.

“The Buy BC program allows our marketing ideas to go further than if we were funding them through our annual budget alone,” said Joe Falk, general manager, Fraser Valley Specialty Poultry. “It enables us to advertise with larger media outlets, to secure the local talent we need to get our message across, and to reach customers within our own province who are as passionate about local food as we are. The recognizability of the Buy BC logo gives credence to our work and what we stand for.”

Delta’s BCfresh also received Buy BC funding, which it used to launch and market its new BCfresh Berries brand this summer. The company also used the funding for digital and print ads promoting its Warba potatoes this past spring and is currently promoting its BCfresh Field to Fork campaign that highlights local farms and B.C.’s fall harvest.

“The Buy BC program continues to be an important tool to help educate customers about where their food is grown,” said Brian Faulkner, vice-president of business development and marketing, BCfresh. “We prominently display the logo on many of our retail packages and proudly seal every bag with a BCfresh/Buy BC Kwik Lok closure so consumers can quickly see they are buying something grown in B.C. on local family farms.”

The Buy BC Partnership Program is providing $2 million this year to help eligible applicants with their marketing efforts using the Buy BC logo on their products or promotional materials to help consumers easily identify their product as a B.C. product.

Businesses can apply for Buy BC funding from Oct. 26 until Nov. 18, 2021. The Province’s Buy BC Partnership Program is delivered by the Investment Agriculture Foundation of British Columbia.

Learn More:

For application details, visit: https://iafbc.ca/buy-bc/

For more information about Buy BC: https://buybc.gov.bc.ca/

Buy BC promotional video: https://youtu.be/HEGqJ0aExhA

Info on the Buy BC: EAT DRINK LOCAL campaign, running Oct. 15 to Nov.15, 2021: https://buybc.gov.bc.ca/eat-drink-local

Fraser Valley Specialty Poultry: https://www.fvsp.ca/

BCfresh: https://bcfresh.ca/

Adblock test (Why?)



Source link

Continue Reading

Economy

Australia's economy likely contracted in Q3 but recovery expected soon – Financial Post

Published

 on


Article content

BENGALURU — Australia’s economy likely contracted in the third quarter as fresh lockdowns weighed on consumer spending and investments, but the extent of the fall was milder than the historic recession recorded last year, a Reuters poll showed.

Despite Australia’s success last year in containing the COVID-19 virus, fresh flare ups and the stay-at-home rule imposed this year severely dented economic activity leading to job cuts and calls for a ramped-up vaccination drive.

Advertisement

Article content

The Nov. 23-26 poll of 24 economists showed the A$2.07 trillion ($1.5 trillion) economy contracted 2.7% during the July-September quarter. Forecasts ranged from -3.8% to -1.9%.

If economists predictions were realized, it would mark a sharp turnaround in economic activity from the 1.8% and 0.7% expansion rates in the January-March and April-June quarters respectively.

“Extended stay-at-home orders in New South Wales and Victoria will have hit consumption, with services spending set to be particularly impacted,” said Felicity Emmett, senior economist at ANZ.

The year-over-year growth was estimated at 3.0% but that was over a decline of 3.6% in the third quarter last year, revealing no substantial growth.

Advertisement

Article content

Data released by the Australian Bureau of Statistics on Thursday showed capital expenditure https://www.reuters.com/markets/rates-bonds/australia-q3-business-investment-slips-outlook-surprisingly-resilient-2021-11-25 fell a real 2.2% in the third quarter but an upgrade to future spending showed analysts were expecting a rapid recovery to take hold.

Construction activity too declined last quarter but at a much smaller rate than expected, showing a recovery was not far off.

“The fact investment held up pretty well, we expect GDP to surpass its pre-delta level this quarter. Consumption will probably rebound very sharply given lockdowns have now ended,” said Marcel Thieliant, senior Australia & New Zealand economist at Capital Economics.

Advertisement

Article content

Despite the setback to economic growth last quarter, economists do not see that trend turning into a full blown recession.

With about 86% of Australia’s adult population now vaccinated and most restrictions eased, a swift recovery is anticipated on higher consumer spending.

“There is a saying that while history doesn’t repeat, it does rhyme. The pattern for GDP in the second half of 2021 is certainly rhyming with the middle quarters of 2020 – a sharp decline followed by a large bounce,” wrote economists at ANZ. ($1 = 1.3986 Australian dollars)

(Reporting by Shaloo Shrivastava; Polling by Md. Manzer Hussian and Devayani Satyan; Editing by Marguerita Choy)

Advertisement

Comments

Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

Adblock test (Why?)



Source link

Continue Reading

Economy

China's Economy Likely Remained Weak as Factories Slump – Financial Post

Published

 on


Article content

(Bloomberg) — China’s manufacturing activity likely remained subdued in November, with weak domestic demand in the economy outweighing any relief that came from an easing in energy shortages.

The official manufacturing purchasing managers’ index is forecast to improve slightly to 49.7 from 49.2 in October when it’s released Tuesday, according to the median estimate in a Bloomberg survey of economists. That would be the third month it stays below the key 50-mark, indicating a contraction in production. 

Advertisement

Article content

The non-manufacturing gauge, which measures activity in the construction and services sectors, is forecast to fall to 51.5 from 52.4 in the previous month. 

China’s energy shortages, which ravaged factory production in September and October, likely eased this month as coal producers boosted output and inventories rose. However, the housing market crisis shows no signs of ending, and frequent Covid-19 outbreaks continue to curb consumption.

“Supply-side restrictions have improved marginally, so production likely rebounded somewhat,” said Xing Zhaopeng, senior China strategist at Australia & New Zealand Banking Group Ltd. But there’s “not much positive signal on domestic demand,” which continued to weigh on activities, he said.

Advertisement

Article content

Economic growth is forecast to slow to 5.3% next year, according to a Bloomberg survey median, with some economists seeing expansion as low as 4%. Bloomberg Economics forecast growth will come in at 5.7%, as the government will likely target a 5-6% range.

What Bloomberg Economics Says…

“In 2021, policy played a secondary role in setting the growth trajectory. In 2022, it will be pivotal. The extent of the slowdown will hinge largely on what balance China strikes between supporting short-term growth and advancing long-term reforms.

…We see the People’s Bank of China cutting the interest rate on its one-year medium-term lending facility by 20 basis points and the reserve requirement ratio by 100-150 bps by end-2022.”

Advertisement

Article content

— Chang Shu and David Qu

For the rull report, click here

Authorities are trying to moderate the sharp downturn in the property market, while providing targeted support to areas such as small businesses and green technology. Officials will reveal more clues on how much policy easing they plan to provide during two key political meetings in December by the Politburo and the Central Economic Work Conference.

China will adopt a more proactive macroeconomic policy next year to respond to the challenges from an uneven recovery of the global economy and instability in containing the pandemic, the Securities Times, run by the People’s Daily, said in a front-page commentary Monday. 

Authorities have exercised restraint in using monetary and fiscal tools amid an economic slowdown this year, thus creating sufficient space for policy maneuvering next year, according to the commentary.

The slowdown is being cushioned by strong export demand, which likely remained solid in November, judging by latest shipment figures from South Korea.

Consumption and travel continues to be affected by a resurgence in virus cases and the country’s growing determination to stick to its strict Covid Zero strategy. Subway passenger traffic in six major cities of China declined less than 10% in November from October, though the plunge is smaller than that over the August outbreak, according to Xing. 

©2021 Bloomberg L.P.

Bloomberg.com

Advertisement

Comments

Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

Adblock test (Why?)



Source link

Continue Reading

Economy

China's Economy Likely Remained Weak as Factories Slump – Bloomberg

Published

 on


China’s manufacturing activity likely remained subdued in November, with weak domestic demand in the economy outweighing any relief that came from an easing in energy shortages.

The official manufacturing purchasing managers’ index is forecast to improve slightly to 49.7 from 49.2 in October when it’s released Tuesday, according to the median estimate in a Bloomberg survey of economists. That would be the third month it stays below the key 50-mark, indicating a contraction in production. 

Adblock test (Why?)



Source link

Continue Reading

Trending