Canadian Farm Sales Reach 3-Year Low

OTTAWA - Feb 24/04 - SNS -- Farm cash receipts reached their lowest point in three years in 2003 as agricultural producers in Canada struggled with the impact of mad cow disease on cattle incomes, limited availability of crops to sell during the first half of the year and lower prices during the second half.

Statistics Canada said this combination of events saw total crop revenues tumbled to a three-year low of $13,154 million; while total revenue from livestock plunged over $2 billion to $16,219 million during 2003. Program payments rose 41.6% to a record $4.9 billion, shattering the previous record of $3.8 billion set in 1992, but this was not enough to offset declines in sales.

In total, farmers received $34.2 billion from all sources, down 5.0% from 2002. This was the lowest level since 2000, yet was still above the average for the previous five years, 1998 to 2002.

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