Thank you very much, and thank you for the invitation to be here today.
My name is Rick White, and I'm the president and CEO of the Canadian Canola Growers Association. CCG is the national association for Canada's 40,000 canola farmers and represents them on issues, policies and programs that impact their farms' success.
Canola is a strong economic contributor to family farms and our rural communities. In 2024, canola continued to be the number one source of crop revenue for our farmers, earning $12.9 billion and accounting for 25% of their total crop receipts. Annually the canola sector contributes $43.7 billion to the Canadian economy and provides for 200,000 jobs. I cannot overstate the importance of this issue to canola farmers and the uncertainty that's been cast over farmers' ability to market their 2025 canola crop, which they are still currently harvesting as we speak.
With 90% of our canola exported as seed, oil or meal, canola farmers rely on international trade for their farms' viability. China is our largest market for canola seed, our second largest market for canola meal and, at times, a very important market for canola oil. In 2024, Canadian exports of canola seed, oil and meal to China were valued at approximately $4.9 billion.
The loss of any market is a concern. The loss of our second-largest market and our largest seed market is of particular concern, so what do farmers need? Of most urgency to the entire canola industry is to get the market in China reopened again. That's what we need. We're encouraged by recent engagement with our industry at the highest levels and the efforts by both federal and provincial government officials to engage in China and with China. However, if the market cannot be reopened in the very near term, government needs to be prepared to compensate canola farmers in a manner that is commensurate with the losses they have incurred from the market closure with China. In addition, the government can support the canola industry's efforts to diversify. For example, market diversification in the form of biofuel is a long-standing policy priority of the canola industry.
Beyond the challenges with China, we're highly attuned to the upcoming CUSMA review with the U.S., because the U.S. is our largest market. Underscoring the uncertainty canola farmers are feeling right now is the fact that the United States and China represented about 87% of our total canola export value in 2024. Without a doubt, canola farmers' profitability is linked to our trade relationships with both the U.S. and China.