Seeds of hope: Two thirds of Canadian agriculture producers are cautiously optimistic for the year ahead

TORONTO - From labour shortages and fluctuating commodities prices, to evolving environmental risks, Canadian farmers continue to operate amid highly disruptive conditions. Yet as they look to the next 12 months, two thirds (64%) of producers are feeling cautiously optimistic in their outlook, according to the RBC Agriculture Poll that surveyed agriculture owners and operators from across the country.

To realize the positive year they foresee, Canadian producers are aiming to proactively plant the seeds needed to ensure growth in the months ahead. When asked about priorities to pursue over the next year, those surveyed overwhelmingly agreed that owners and operators will look to:

• Cultivate a strong agricultural network to tap into for advice (85%)
• Recruit skilled workers (81%)
• Build up the farm's leadership team (77%)
• Invest in technology and data-driven decisions (77%)
• Focus on risk management planning (73%)

"Having demonstrated their ability to weather significant and often unpredictable disruptions over the past two years, Canadian producers are now turning to the future with an outlook of cautious optimism," said Ryan Riese, National Director of Agriculture, RBC. "From risk management and resiliency, to leadership and technological innovation, farmers are increasingly shifting their focus and investments on proactive priorities to strengthen their operations and cultivate growth – not only for the year ahead but for the long-term future of the agriculture sector."

The modern farmer is data-driven, sustainability-focused and diverse
The RBC Agriculture poll also found that the face of Canadian agriculture is rapidly changing, with farmers today increasingly focused on driving sustainability, diversity and technological adoption.

When surveyed, an overwhelming majority (91%) of Canadian farmers report that they already regularly use technology and data insights to guide their decision-making, with a large number intending to further accelerate on-farm technological adoption. Over the next 12 months, about half anticipate introducing new technology to their operations to support functions like data management (55%), digital field, crop, and inventory management (51%), financial planning and cash flow management (47%), and automation (45%).

In addition to an increasing focus on digital adoption, survey findings indicate an agriculture industry that is making strides to become more sustainable and diverse.

Of the producers polled, 96% report that they are actively working to make their operations more sustainable. The industry is also moving the needle on diverse leadership, with six in ten (61%) of those surveyed reporting female leadership on their farm. Another seven in ten (71%) said that they're making progress around recruiting and promoting a more diverse workforce.