Farm cash receipts in Manitoba grew at the fastest pace in the country in the first three months of 2013, Statistics Canada said today.
The agency said receipts were up 13.4 per cent from a year earlier, climbing to $1.8 billion from $1.6 billion.
By comparison, farm cash receipts for Canada grew by only 7.5 per cent, rising to $15.4 billion from $14.3 billion.
The reason for the big gain here was a sharp spike in crop receipts. They grew by 29 per cent to $1.2 billion from $905.5 million in the first quarter of 2012.
That gain helped to offset a 3.1 per cent decline in livestock receipts — $481.3 million versus $496.8 million — and an 18.4 per cent drop in income from government support programs — $149.3 million versus $183 million.
Farm cash receipts measure gross revenue for farm businesses. They do not represent farmers’ bottom line, as they must still deduct their expenses for things like fertilizer, farm fuel, and loan payments, as well as depreciation of their equipment.