Canada invests US$71.5 million into Alberta cattle and beef sector

The governments of Canada and Alberta have launched the Canadian Beef and Cattle Market Development Fund (CBCMDF) by contributing a combined C$80 million (US$71.5 million).

Changes to an agreement between the Canadian Cattlemen's Association (CCA) and the province mean more Alberta-based projects with broader objectives will be eligible for the CBCMDF. Commonly referred to as the Legacy Fund, the initiative was created in 2005 following the discovery of BSE in the Canadian cattle herd.

More money is expected to be invested into Alberta's marketing projects, according to George Groeneveld, Minister of Agriculture and Rural Development.

Canada is still feeling the impact of trade restrictions from BSE, but there is great opportunity to develop market access for Alberta beef and cattle genetics, Groeneveld said.

Changes to the fund include an expanded list of eligible activities in conjunction with a wider range of potential applicants, which will provide greater flexibility for fund recipients to develop Alberta beef and genetics export marketing programmes, said David Andrews, Chairman of the Canadian Cattlemen Market Development Council, the entity created by CCA to oversee the Legacy Fund.