We got some revised farm income data for last year and a snapshot of how the tariffs are hitting the top line so far this year.
StatsCan updated net farm income figures for last year showing Saskatchewan producers with a bottom line of $4.3 billion, tops in Canada but $1.3 billion lower than the final figures for 2023. That’s still about 40-percent of the net income for all farms across Canada.
Alberta and Ontario farmers grossed more than we did but Saskatchewan producer efficiency meant the bottom line was stronger here.
For comparison, Alberta farmers had the second-biggest bottom line at just over $2 billion, half of what we saw in Saskatchewan. Quebec netted $100 million – one-fortieth of Saskatchewan’s level. These figures provide some insight into why Saskatchewan is ag-central in Canada and host to events like Agribition going on this week.
For the first three months of this year, StatsCan only has revenue figures. The top line was $15 billion in Saskatchewan, behind both Alberta and Ontario. A key factor was canola tariffs which reduced revenues for almost $900 million.
