From the Western Producer paper, May 6 2010
Farm income predictions grim
Projections 91 percent below 2009
The 2010 farm income projections are devastating.
Agriculture Canada released them with little fanfare in late April, which is later than normal.
A sector that will produce $41.6 billion in farmgate receipts this year will return $291.5 million to farmers in realized net income after depreciation. It is a 91 percent reduction from 2009 levels.
Several provinces will be in deficit, including Ontario and Alberta.
The hog and cattle sectors will be hit particularly hard, according to the numbers prepared by and agreed to by federal and provincial officials.
The forecast projects a 12 percent increase in program payments to $3.76 billion despite an Agriculture Canada longer-term projection of a sharp decline in government support over the next three years.
National and provincial leaders affiliated with the Canadian Federation of Agriculture called the numbers a clear signal that federal programs are not working.
“The government’s own forecasts show deep losses for many commodities and highlight that the business risk management programs currently in place were not designed to function with today’s unique set of economic circumstances,” CFA president Laurent Pellerin said in a statement.
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