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Canadian Farm Income Plummets 26% as Crop Prices Fall and Costs Rise
Summary by Rural Roots Canada
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Canadian Farm Income Plummets 26% as Crop Prices Fall and Costs Rise
Ottawa (Rural Roots Canada) – Canadian farmers saw their income take a big hit in 2024, as realized net farm income fell 26% to $9.4 billion while costs increased, according to new data from Statistics Canada. It’s a $3.3 billion decline from the previous year, driven largely by weaker crop prices and higher operating costs. Every province, except Newfoundland and Labrador and Nova Scotia, reported declines, with Saskatchewan posting the largest…
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