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Agriculture committee That's yet to be determined. The growers are all currently growing GMO beets. I believe this year every grower in North America is growing GMO beets. So unless there's a real market to go after, they would not revert to non-GMO beets at this stage. It wouldn't be economic for the
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee You're talking about yield?
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee There is a slightly better yield. It's new to us and it's new to the industry; GMO beet technology is not very old. We've seen improved yields. We're able to get close to the market of what we need in sugar with fewer acres, which gives better returns to the growers. It hasn't
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee I don't have any numbers, but it wouldn't be in that magnitude.
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee It's complicated, because the rotation crops have to be GMO as well. It's not just the sugar beet in the cycle. They rotate the crops and it all has to be in unison. It's complicated. It's not just sugar cycle.
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee We wouldn't have an estimate on that today, because it would depend on the economic model. It's hard to forecast, seven years out, what the selling prices will be in any market, let alone a market that's also going through its own sort of reform. If everything were fast-forward
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee Anything we're going to export out of Canada goes to the U.S., yes.
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee Over seven years.
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee Yes. I mean, it all comes down to an economic equation at the end of the day. Where you can get the best value for your assets and your growers is where you will go. If you look at the economic model today and fast-forward seven years, I would say that Europe would be high on our
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee Yes. Last year it was around 24,000. That's correct.
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee We were higher, but I don't think we were at 40,000. I think we were at 30,000.
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee I'll let Sandra comment.
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee Certainly we have capacity if more markets open up. As evidenced, and as Sandra pointed out, over seven years the tariffs on refined beet sugar from Canada will be eliminated in the EU. We would be aggressively looking for access to those markets for those products.
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee It does have some modest capacity.
December 5th, 2013Committee meeting
Mike Walton
Agriculture committee Thank you. I am vice-president of sales and marketing for Lantic, a Canadian-owned company with more than 650 dedicated employees across the country and annual sales of over $600 million. Lantic is the largest refiner of sugar in Canada by way of its two brands: Lantic and Roger
December 5th, 2013Committee meeting
Mike Walton