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Canada's Net Farm Income Rebounded in 2004
OTTAWA - May 25/05 - SNS -- Net cash income staged a strong recovery during the 2004 calendar year, according to Statistics Canada, rebounded to CDN $6.3 billion.
While Canadian producers saw their net cash incomes rise by 34.4% from the low received in 2003, this level was still 1.0% below the previous five-year average from 1999 to 2003.
All provinces recorded increases, except Prince Edward Island. However, compared to the previous five-year average, six provinces experienced decreases in net cash income in 2004.
Total farm cash receipts rose 6.1%, driven by higher revenues for crops and livestock, while farm operating expenses rose 1.6%. Inputs, such as machinery fuel, cash wages and machinery repairs, contributed to the higher expenses.
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