Canadian Farm Revenues up in 2002

OTTAWA - Dec 1/03 - SNS -- Canadian farm incomes rose in 2002, according to taxation records examined by Statistics Canada.

Average operating revenues per Canadian farm increased 7.0% in 2002 from 2001 to $202,389. In the same period, average operating expenses went up 7.0% to $172,506. Operating margins rose 0.1 cents to 14.8 cents per dollar of revenue.

Compared with the five-year average from 1997 to 2001, average operating revenues in 2002 were up 22.9% in current dollars and operating margins were up 0.1 cents per dollar of revenue. The total number of farms was down 3.6% from 2001 to 2002, the biggest annual drop in the last decade. This partly explains the increase in average operating revenues and expenses.

Statistics Canada said the overall rise in average operating revenues is partly explained by the 11.6% increase in average crop revenues, which were boosted by stronger prices. In particular, the export demand for fresh and processed potato products resulted in higher average revenues from the sale of potatoes (+42.7%). Greenhouse, nursery and floriculture products (+9.8%) also contributed to the advance in the crop sector.

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