Statistics Canada’s latest farm product price index is a stark reminder of the kind of commodity price whiplash that producers often experience.
Released Thursday, the overall index – which measures the changes in prices that farmers receive for the agriculture commodities they produce and sell – was down 10.7% in June compared with June 2022. It marked the fifth consecutive month of year-over-year declines, following over two and a half years of increases.
June witnessed a significant fall in crop prices, with the crops index dropping 19.8% amid better Prairie growing conditions and improved yields, which boosted supply and lowered prices. A spike in crop prices in the prior year, due to drought-induced supply shortages, added to this year's index drop
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