Canadian farmers should expect another good year for commodity prices, but not as good as the year just past.
Farm Credit Canada senior economist J.P. Gervais came to that conclusion in his annual farm outlook report.
“While 2022 brought its fair share of challenges for Canadian agriculture, one bright spot has been the healthy trend in farm cash receipts. We estimate they reached a record high of $94.5 billion in 2022, an increase of 14.1 per cent over 2021,” he said.
“Looking forward, we expect farm cash receipts to continue growing in 2023, although at a more moderate pace of 4.6 per cent. Robust farm cash receipts would be a positive development in 2023 to offset input costs that are anticipated to stay elevated throughout the year.’’
Breaking down cash receipts by region, Saskatchewan will have a 7.6 per cent increase to $29.24 billon — the highest of any region.
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