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: Cheapest States to Buy Farmland in America

The United States has more than 895 million acres of farmland, which includes all rural land tied to farming operations, from highly fertile Midwest cornfields to vast grazing ranges in the West, as well as the undeveloped rural land, which is often sold as ranches, homesteads, or uncultivated lots. Nowadays investing in rural land is very lucrative even billionaires like Bill Gates, Jeff Bezos, and Warren Buffett have bought up thousands of acres of farmland across America. In contrast to investors, agricultural companies, and business moguls, some buy farmland for their own requisites, like starting a small farmstead, creating a cottage, and becoming self-resilient. In this video we have ranked the top cheapest states to buy farmland according to the per-acre land value, which is accumulated from the United States Department of Agriculture. The USDA’s per-acre land values come from an annual survey, which is cross-checked with actual sales data, appraisals, and market trends to ensure accuracy. So here are The top Cheapest States to Buy Farmland.