ST. CATHARINES, Ont. — The St. Lawrence Seaway officially opens today for a 64th navigation season with the prospect of increased demand for Canadian grain and fertilizer stemming from the war in Ukraine.
Terence Bowles, president and CEO of the St. Lawrence Seaway Management Corp. that operates the waterway, says Canadian exports could be called upon to replace supply shortages resulting from sanctions against Russia and devastation in Ukraine.
However, he says the country’s ability to respond will depend on the strength of the upcoming grain crop.
Agriculture and Agri-Food Canada is forecasting that overall production and exports will be marginally better in the coming crop year after severe drought across the Prairies cut output last season.
But Bowles says the seaway is ready to deliver if there’s another strong year for Ontario grain and the western and U.S. grain crops come in stronger than expected.
The seaway is forecasting that overall cargo shipments will remain flat at about 38.2 million tonnes this year, but increase in line with the forecast four per cent economic growth when excluding grain.
This report by The Canadian Press was first published March 24, 2022.
