Canola's value to the Canadian economy has tripled over the past decade to $26.7 billion a year, according to a new analysis released by the Canola Council of Canada.

The report indicates that the canola industry generates a total of 250,000 jobs and $11.2 billion in wages for Canadians across the country. The study also show how the impact of canola has grown since 2005/06:

• The total economic impact has increased by 250%
• The total wage impact has doubled
• Domestic canola processing and refining have expanded significantly and now generate four times the economic impact
• The number of jobs generated by canola has increased by 41%

While the greatest economic benefit of canola has been seen on the Prairies, it's also had a significant impact on the economies of Ontario ($1.48 billion), Quebec ($1.06 billion), British Columbia ($554 million) and the Maritime provinces ($120 million).

Click here to read the full press release from the Canola Council of Canada.