Canadian farm sector income expected to reach new records
OTTAWA, ON, Feb. 16, 2024 /CNW/ - Agriculture and Agri-Food Canada has completed its farm income forecast for 2023 and 2024, with results showing that overall Canadian farm income is expected to have reached a new record in 2023.
- OTTAWA, ON, Feb. 16, 2024 /CNW/ - Agriculture and Agri-Food Canada has completed its farm income forecast for 2023 and 2024, with results showing that overall Canadian farm income is expected to have reached a new record in 2023.
- Average farm family income, which includes income earned off-farm, is forecast to have increased by 11 per cent to $239,000 in 2023.
- Average farm-level and farm family incomes are expected to follow a similar trend to the aggregate measures of income.
- The results of the farm income forecast show us just how resilient our sector is, with continued growth of overall farm income.