Net farm income in Canada up: Stats Canada

May 26, 2016

Not all provinces experienced increases

By Diego Flammini
Assistant Editor, North American Content
Farms.com

New data from Stats Canada shows realized net farm income rose by about 9.2 per cent since 2014.

In 2014, realized net income was $7.4 billion, compared to $8.1 billion in 2015.

Realized net income is classified as the difference between a farmer’s cash receipts and operating expenses, minus depreciation, plus income in kind.

Despite an increase across the country, only four provinces saw an increase in realized net income: Newfoundland and Labrador, Saskatchewan, Alberta and British Columbia.

Graph

Ontario’s net farm income in 2014 was approximately $1.2 billion, compared to $1.04 billion in 2015.

Manitoba’s net farm income in 2014 was $780 million and dropped to about $532 million in 2015.

When it comes to farm cash receipts, Canada saw an increase of 2.7 per cent to reach $59.4 billion, marking the fifth consecutive annual increase.

Crop receipts were up by 5.2 per cent in 2015, totalling $31.6 billion after a three per cent drop in 2014.

Lentil crop receipts grew by 110.1 per cent in 2015 as prices increased by 57.6 per cent.

Total operating expenses in 2015 came in at $44.4 billion, up from $43.9 billion in 2014.

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