Looks like the Trudeau Government really wants Canadians to eat … crickets?
The Canadian Taxpayers Federation has released a report revealing that the Trudeau government has allocated close to $10 million in grants and contributions to various companies to support the development of cricket-based products from 2018 to 2023.
Crickets are gaining attention for their high protein content and eco-friendly qualities, making them a potential source of protein for human consumption. One beneficiary cites that recent research indicates that a growing number of Americans are open to incorporating crickets into their diets due to the perceived health and environmental benefits.
But is that enough to justify the millions in grants during a cost of living crisis?
The largest grant, amounting to $8.5 million, was awarded to Aspire Food Group Ltd. through the federal Agri-Innovate Program. Aspire Food Group’s funding is designated to aid in the establishment of a commercial demonstration facility in London, Ontario, dedicated to producing crickets for multiple markets, including pet, human, biomedicine, and agrochemical sectors.
According to Aspire, a significant portion of their cricket protein goes into pet food, but they are also exploring opportunities for human consumption.
Other companies that received government funding include NAAK, which plans to expand its product range to include cricket powder-infused items like steaks, sausages, and falafels. It received $48,517 in October 2018, and $123,178.00 in September 2020.
Prairie Cricket Farms of Manitoba received $75,000 for the period from September 2022 to March 2023 “to optimize processing and management procedures which will allow the firm to achieve enhanced product quality, productivity and profitability.”
Additionally, firms in Bromont, Quebec, Scarborough, and Calgary were awarded contracts aimed at advancing insect protein production.
Information for this story was found via Canadian Taxpayers Federation, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
One Response
Great idea and I am not being sarcastic. Already setting record breaking profits in the billions, the fossil fuel industry is still not paying what they rightfully owe in taxes and they get subsidized with our money to the tune of billions. That is ridiculous!