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November 25, 2008

 

Canada's agriculture earnings up 13.6 percent on-year
 
 

Canadian agriculture's market receipts in the first three quarters of 2008 totalled US$30.5 billion, up 13.6 percent on-year, according to Statistics Canada.

 

Market receipts measure gross revenue from the sale of crops and livestock, and do not include expenses.

 

Receipts for crop producers increased 28.9 percent to US$16.8 billion, reflecting higher prices resulting from tight world grain supplies and robust demand, said Statistics Canada.

 

However, while grain and oilseed producers received higher prices, their input costs also increased, as fertiliser prices jumped 53 percent and fuel prices rose 47 percent during the first three quarters of 2008.

 

Livestock producers did not reap the benefits either, as livestock receipts fell 0.8 percent to US$13.7 billion amid higher production costs.

 

Hog and cattle farmers were also affected by a strengthening Canadian dollar, and the uncertainty surrounding the US Country of Origin Labelling (COOL) Legislation, all of which pressurised prices.

 

However, a 6.3-percent increase in receipts from the supply-managed sector moderated the decline in livestock receipts, and commodities such as poultry and eggs accounted for more than 45 percent of total livestock receipts, said Statistic Canada.

 

Total farmers' revenue, which also includes government programme payments, amounted to US$33.6 billion in the first three quarters of the year.

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