Ontario farmers’ realized net income increased 4.1% in 2022 but decreased for farmers nationally

Jun 14, 2023

OTTAWA — The dollars are getting bigger in agriculture but a farmer’s realized net income is shrinking as farm expenses rise faster than farm cash receipts, according to the latest figures from Statistics Canada.

Realized net income is the difference between a farmer’s cash receipts and operating expenses, minus depreciation, plus income in kind (income other than money). By that measure, Canadian farmers did worse last year, with realized net income on farms falling 9.5 % to $12.5 billion.

But Ontario farmers did better. In fact, Ontario farmers bucked the trend with a realized net income increase of 4.1 % over 2021.

Nationally, total farm cash receipts actually increased by 14.8% over 2021. Canadian farmers collected higher crop revenue (up $7.2 billion) and livestock revenue (up $3.6 billion) in 2022, but this was outpaced by a 21.2 % increase in input costs, including fertilizer, feed and fuel.

Collectively, Ontario farmers had a realized net income of $2.3 billion, third highest in the country. Saskatchewan farmers had the highest realized net income at $4.5 billion, followed by Alberta farmers at $3.3 billion.

Source : Farmersforum

Video: Grazing Network Group: What it is and how it benefits our operation

In the spring of 2023 OMAFA, along with the University of Guelph, gathered a group of 18 producers from the beef, sheep, and dairy sectors to support a three to four year research project related to measuring grass growth in Ontario. The producers use a Rising Plate Meter to capture grass growth and record livestock movements. This presentation will explain how the group interact/support one another, some initial findings, as well as the benefits for the research team and our farm.

The purpose of the Profitable Pastures conference is to bring fresh ideas and new research results to Ontario grazing managers across the ruminant livestock sectors. These conferences have a major focus on pasture management