Optimism levels about the future of agriculture remain similar to last year, according to a new Farm Credit Canada (FCC) national survey. FCC Vision Panel members – over 8,500 producers and agribusiness and agri-food operators – were asked in the fall about their views on the state of agriculture.
Of the survey’s 4,500 respondents, 55 per cent are optimistic about the future of agriculture, compared to 54 per cent in 2008 and 53 per cent in 2007 (the first year of the survey). Respondents were defined as optimistic if they said their farm or business would be much better off or somewhat better off in five years – 70%, and they said that they would slightly or strongly encourage a career in agriculture – 67%. To view complete survey results, visit www.fccvision.ca.
“FCC is committed to the long-term success of the Canadian agriculture industry and we know there are success stories,” says FCC President and CEO Greg Stewart. “There will always be challenges, but at the same time there are opportunities in agriculture – an industry that is the backbone of a strong and healthy Canada.”
The top opportunities identified in the survey were increased demand for products (11%), public demand for new products (11%) and protection of supply management (10%). This was a shift away from the 2007 top opportunities, which were commodity prices and ethanol/bio-fuel production.
Respondents also commented on their top challenges. Respondents were more likely to cite making a profit (24%) as the greatest challenge compared to 2007 (17%) and less likely to cite rising input costs (26%) as the greatest challenge compared to 2007 (41%). And fewer respondents today (18%) believe that their farms or businesses will be much better off in the next five years than they reported in 2007 (22%).
“Producers have a natural tendency to look to the future with optimism,” says Michael Hoffort, FCC VP, Prairie Operations. “The current world economic slowdown has tempered that optimism somewhat; however, the fundamentals for agriculture remain strong. We see producers looking to the future with confidence and plans to capitalize on opportunities.”
“Nearly one-quarter of survey respondents say they are planning to expand their farms or businesses,” says FCC research specialist Nicole Janeczko, who compiled the survey results. “As well, respondents remain advocates for careers in agriculture or an agricultural field. Two-thirds (67%) would encourage a friend or family member to enter the field.”
“It’s really exciting to see the number of new entrants joining family farms either full or part time,” says Hoffort. “This only happens when the older generation has a successful farm business model and confidence in agriculture’s future.”
In 2009, as in previous years, dairy respondents (70%) remain the most optimistic about agriculture, and poultry (26%) and crop (27%) sector respondents are less cautious, compared to 2007 (42% and 30% respectively). Beef producers (27%) are significantly more likely to state that they are pessimistic than in 2008 (21%).
Respondents in Saskatchewan (18%) are significantly more likely to be pessimistic in 2009 than 2007 (12%). In contrast, respondents from Ontario are significantly more likely to be optimistic in 2009 (59%) than in 2007 (49%).
Complete survey results, including comparisons by sector and by province, are available at www.fccvision.ca.
The margin of error for this survey is +/-1%, 19 times out of 20 on a sample of this size. Demographic subgroups will have a higher margin of error.
