Agriculture Canada‘s annual farm outlook says lower oil prices have significantly reduced on-farm fuel expenses, while the lower Canadian dollar has improved competitiveness of agricultural commodities in export markets.
The outlook says farm incomes reached record levels in 2015 and will remain above average this year.
Rodney Myer, director of the farm economic analysis division, says they’re expecting a decline this year.
But he says they’re still forecasting them to be 14 per cent higher than the 2010-2014 average. (The Canadian Press)