The budgetary expenditure on agricultural product safety and inspection in Canada is projected to decrease from 2024 to 2028. Starting at $620.48 million USD in 2024, it is forecasted to drop to $567.39 million USD by 2028. This represents an average annual decline (CAGR) over the five-year period. Year-on-year reductions are expected, with notable declines each consecutive year through 2028.
Amidst this downward trend, Canadian agricultural stakeholders should monitor factors influencing these forecasts, such as potential regulatory changes, technological advancements in inspection technologies, and evolving international trade agreements impacting product safety standards.
