Hey there, time traveller!
This article was published 27/5/2015 (727 days ago), so information in it may no longer be current.
Manitoba farmers saw a modest increase in gross income in the first three months of 2015, according to new Statistics Canada data released today.
The federal agency said farmers here reported $1.75-billion worth of farm cash receipts during the quarter. That was a gain of 1.8 per cent from the $1.72 billion reported in the first three months of 2014.
Farm cash receipts measure the gross revenue for farm operators and include money earned from the sale of crops and livestock and from government support programs. They are not the farmers’ bottom line, because farmers still must deduct expenses for items such as fertilizer, farm fuel, loan payments and depreciation in the value of machinery and equipment.
Higher income from the sale of livestock — up 5.4 per cent — and from government support programs — up 68.2 per cent — contributed to the overall gain for the quarter.
Those increases were partially offset by a 3.3 per cent decline in receipts from the sale of grain and other crops.
Although modest, this year’s overall Q1 increase was still a big improvement from a year earlier, when first-quarter cash receipts were down 5.5 per cent from Q1 2013.
Nationally, first-quarter cash receipts for Canadian farmers rose by 4.5 per cent to $14.8 billion from $14.2 billion in Q1 2014. That was also a big improvement from a year earlier, when receipts were down 9.5 per cent.
Statistics Canada also released the initial farm net income numbers for 2014 on Wednesday. They showed realized net income for Manitoba farmers rose by 18.3 per cent to $694.8 million last year from $587.3 million in 2013.
Realized net income is the difference between a farmer’s cash receipts and operating expenses, minus depreciation, plus income in kind.
A combination of things helped to boost realized net income last year. They included a 2.7 per cent increase in farm cash receipts, a 0.4 per cent increase in operating expenses, a 4.7 per cent hike in depreciation charges, and a 37.4 per cent increase in income in kind, the Statistics Canada data shows.