The 2018 Canadian Agricultural Outlook shows increasing exports of Canadian agriculture, agri-food, fish and seafood to all countries in 2017.
The value of exports rose by $2 billion last year, up to $64.2 billion.
And in summary, the outlook states that agriculture is a major contributor to Canada’s economy, and the sector is expected to prosper throughout 2018.
Canada is the world’s fifth highest total exporter (by value) of agricultural and food commodities.
ANd Canada’s producers are forecast to see record farm income levels in 2017 and near-record levels in 2018. Crop and livestock receipts are both set to increase in 2017 and 2018. Net cash income is forecast to reach a record level in 2017 and remain high in 2018. At the same time, continued growth in asset values is expected to raise average farm net worth to $3.16 million by 2018.
Crop receipts are expected to grow by one per cent in 2017 to $34.5 billion and increase by a further two per cent in 2018 to $35 billion, which would be a record level for total crops.
Livestock receipts are forecast to increase by four per cent to $24.8 billion in 2017, and then increase once again to $24.9 billion in 2018.
