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Realized net income for Canadian farmers rose in 2023

June 7, 2024  By Statistics Canada

Statistics Canada reported an increase of realized net income for Canadian farmers rising 18.3 per cent to $14.5 billion in 2023, as growth in receipts offset the rise in expenses. The increase in 2023 followed a 4.1 per cent decline in 2022 and a 69.6 per cent increase in 2021.

In 2023, total farm cash receipts rose 4.4 per cent compared with 2022. “Higher crop marketings contributed to increased crop receipts (+$1.7 billion),” said a Statistics Canada press release. Program payments decreased $758.4 million in 2023, as much of the relief related to the 2021 drought had been paid out in 2022. | READ MORE



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