Canada - Farm cash income up in 2009
[Latest swine news]
Cash income for Canadian farm businesses rose 2.8%, or nearly $300 million, to $11.0 billion
from 2008 to 2009 despite declines in four provinces. This was the third consecutive annual increase in cash income as crop revenues remained strong and expenses fell for the first time since 1986.
Cash sources decreased 3.3% to $46.6 billion as both sales and program payments declined. All provinces save Prince Edward Island and New Brunswick experienced declines from 2008.
Cash uses declined 5.0% to $35.6 billion in 2009 as machinery fuel, interest, and fertilizer expenses fell sharply. This drop in farm expenses followed a 9.6% hike the previous year and a rise of 8.7% in 2007. Cash uses declined in all provinces in 2009.
Cash income fell in Nova Scotia, Quebec, Ontario and Alberta where declines in sales exceeded declines in expenses.
Cash income increased in the remaining provinces.
Cash available to producers through borrowing increased in 2009 as both current and long-term liabilities increased, albeit at lower levels than was seen in 2008. There was a net increase of $2.0 billion in loans outstanding in 2009 compared to an increase of $2.9 billion in 2008.
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