Farm Credit Canada says farm cash receipts reached a record 94.5 billion dollars last year across the country.
Chief agriculture economist at FCC, J.P. Gervais, says the estimate is a jump of 14 percent from the previous year.
He says 2023 will see continued growth in farm cash receipts, but at a more moderate pace of 4.6 percent this coming year:
However, Gervais says farm expenses will remain elevated and producers will face rising challenges to ensure they stay in business.
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