Canadian realized net farm income was up even more sharply in 2021 than previously reported, as strong crop and livestock prices countered rising input costs and the drought-reduced Prairie harvest.
A Statistics Canada report Monday pegged 2021 realized net income for Canadian farmers at $13.7 billion, up 49.8% from a year earlier. That is slightly above the 46.4% increase StatsCan originally reported back in May, although still well below the 2020 gain of just over 70%. In 2019, realized net farm income crept up just 5.1%.
Realized net income is the difference between a farmer's cash receipts and operating expenses, minus depreciation, plus income in kind.
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