Two new reports point to another prosperous year and a solid decade ahead for Canadian farmers.
The average operating income for farms in 2011 is expected to top record levels of $65,000, while net cash income at the sector level is forecast to rise 24 per cent.
It would bring totals to $11.4 billion, surpassing the previous year of $9.5 billion dollars.
Despite difficult growing conditions, experts are pointing the finger towards high prices for crops and livestock.
Disaster assistance and production insurance payments to Prairie farmers also helped elevate income levels.
It's welcome news for stakeholders like Rob Saik, CEO and founder of Agri-Trend Group of Companies.
"Agriculture turned a corner of importance on the global scene," says Saik. "It's moving from a have not to a have industry."
Saik believes the numbers reflect an accurate picture and has seen net farm incomes increase.
"It's important to note that doesn't mean a full decade of growth, we've had good times where they haven't made money," he says.
Saik says it's not so much a relief, but a necessity as Canadians enjoy one of the most robust food supplies in the world.
He adds it's also encouraging news in terms of bringing young people back into the fold of farming.
"In the next decade, 42% of farmers are looking to exit farming, the average age of farmers in Alberta is 51 years old."
Saik calls it "a nice bump at the gate, which bodes well for the future of agriculture."
Source - http://www.660news.com/
