Prince Edward Island signs MoU with CNP- to provide investments opportunities to farmers

Premier of Prince Edward Island ((PEI) – Canada, Wade MacLauchlan signed a Memorandums of Understanding with Canadian Nectar Products (CNP).

CHANDIGARH: Premier of Prince Edward Island ((PEI) – Canada, Wade MacLauchlan, who is on a week long visit to India, signed a Memorandums of Understanding with Canadian Nectar Products (CNP), a prominent agri-based company in PEI.

“We are proud to sign an MoU with the Canadian Nectar Products and are proud of the progress by CNP in PEI”, said the Premier during the signing ceremony. CNP’s innovative and state-of-the-art orchards, growing high value varieties of apples and other fruits, is the largest orchard in Atlantic Canada and the 4th largest in Canada.

“Our project is moving on schedule and we’re hopeful to expand to 3000 acres of vertically-integrated fruit orchard and expand the post-harvest, packing & processing of fruits in PEI”, stated Dr. Amarjeet S. Jatana, President of the CNP.

“We are proud of our team and I’m looking forward to working together with local PEI growers and foreign investors who will bring expertise in fruit industry”, said Amardep Khaira, Director of CNP.

CNP and its associates have experience in growing, post harvest logistics, processing and marketing of fruits. CNP has provided opportunities to foreign investors who want to settle in Canada and join the fruit business. The investment in fruit orchard, once planted, provides excellent returns for 4 decades and the payback period for investment is under 5 years.

“Government subsidized insurance for insuring fruit yield and prices, mitigates risk and assures confidence. PEI soil and environment is conducive to grow high value fruits like apples, pears and blueberry,” says Mr Amardeep Khaira.

PEI the birthplace of Canada, also called the ‘food island of Canada’ is the smallest province is leading Canadian growth in exports, manufacturing, income and economy.

The leading industries in PEI are fisheries and frozen foods, agriculture, aerospace, biosciences, marine technology, IT & financial services, and tourism. PEI is only 0.25% in area of Canada with a population of about 150,000 but the GDP is 80% more than the average of Canada; 20% GDP of PEI is export oriented.

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