In the future, we will no doubt see these large companies acquire all of Canada's agricultural assets. One day, sooner or later, these owners will want to do the same thing: they will retire and will sell the farms. It will become more and more complicated to transfer businesses worth $10, $15, $40 or $50 million, compared to businesses worth $1 or $2 million, on average, today, maybe a little less.
Our agricultural programs extend only over the next five years, but the trend is really real. This has been the situation for 30 years, and it risks repeating itself over the next 30. How can we prevent the agricultural sector from becoming too limiting for the next generation? These days, to get into agriculture at 25 years of age, you need $4 to $5 million in capital. Any 25-year-old who can find $4 to $5 million, or managed to win $4 to $5 million, might not be advised to get into agriculture. It would probably be better that the person continue to work in the same sector.
Agricultural work isn't necessarily well paid. Farmers rely only on product sales. This week, for instance, the price of pork is the same as it was 40 years ago, about $0.64 a pound.
What can we do so that agricultural assets are held by more people? If we go lower than 1%, I am really concerned about the ownership of these farms. Will they be bought by large American companies, or by companies from other countries? There will be practically nothing left in the country that is Canadian-owned.