Agriculture and Agri-Food Canada released the 2016 Canadian Agricultural Outlook. The report provides a forecast of farm income in the agricultural sector for the previous and current calendar years (2015 and 2016), and looks ahead ten years to longer term trends that could impact the agriculture sector.
Farm incomes are forecasted to reach record levels for Canadian farmers in 2015, and to remain above average for 2016.
“Canada’s agriculture and food industry is well positioned for continued success,” says Lawrence MacAulay, Minister of Agriculture and Agri-Food. “The Government of Canada will support the continued growth of the sector by working closely with our provincial and territorial partners, investing in research and innovation here at home, and working to open new markets around the world.”
A projected increase in both crop and livestock receipts contributes to these strong income levels for the sector in both 2015 and 2016. An increase in global trade and greater demand for agricultural commodities by developing countries present opportunities to further grow the Canadian agriculture sector.
