ONTARIO — Canadian farm cash receipts went up by $11.7 billion — or 14.1 % — to hit $94.9 billion in 2022, according to Statistics Canada. Ontario farmers’ share of this national increase was $2.3 billion, the highest after Alberta (up $3.5 billion).
Total farm cash receipts in Ontario hit almost $21.3 billion last year, up 12 % from 2021.
Farm cash receipts are the gross incoming dollars farmers receive, before expenses and input costs, and those costs also went up substantially. Nonetheless, the rise in farm cash receipts did exceed the rate of inflation. StatCan reports that the Consumer Price Index — the key measure of inflation — went up 6.8 % in 2022.
Crops accounted for over $12 billion of Ontario farmers’ gross dollars in 2022. Big crop contributors to that total naturally included soybeans ($2.5 billion) and corn ($2.35 billion). Milk production accounted for $2.66 billion of the 2022 tally. Cattle production, including beef, brought in $1.69 billion for Ontario farmers, while program payments were just over $363 million.
Source : Farmersforum