Statistics Canada released farm financial data for both 2012 as well as for the first three quarters of 2013 in two separate reports Tuesday. Both total farm cash receipts and crop receipts reached record levels in 2012, as indicated on the attached chart, while are poised to set yet another record in 2013.
Total farm receipts reached $54.189 billion in 2012, of which total crop receipts totaled $29.878 billion. Crop receipts have made up a greater share of the total over time, with returns due to crop sales making up 39% of total receipts in 2003 while moving to 55% in 2012.
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The contribution of the larger crops of wheat (excluding durum) and canola are shown on the attached chart. In 2012, wheat made up 14.2% of the total crop receipts of $29.878 billion at $4.273 billion, while canola contributed 27.5% of the total receipts resulting in the largest contribution of all crops at $8.231 billion. Other crops include durum (3.1%), soybeans (8.2%), corn (8.9%) and dry peas (2.9%).
Over the 10-year period from 2003 to 2012, total crop receipts increased 124% in Canada. By province, total crop receipts over the same 10 years increased 61.4% in Manitoba, 82.9% in Ontario, 219.8% in Alberta and 226.7% in Saskatchewan.
As shown in a second report Tuesday, total crop receipts are poised to potentially set yet another record in 2013. Total crop receipts to the end of September are reported at $22.1 billion, which is 2.9% ahead of year-ago sales. Wheat sales posted a 33.5% increase in cash receipts to $3.9 billion, while canola posted an 11.9% drop in cash receipts although remains the largest grain measured in cash receipts at $5.3 billion in the first three quarters. By province, Alberta has seen crop receipts rise 1.5% in the first three quarters this year over 2012, while Saskatchewan has seen an increase of 3%, Ontario has increased 6.6% and Manitoba has seen a growth of 28.7%.
Cliff Jamieson can be reached at email@example.com
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