Farm Credit Canada sees rising costs for farming in 2023

Farm Credit Canada says the 2023 crop will be the most expensive ever planted.

FCC senior economist Leigh Anderson says the Canadian crop input market achieved record sales last year of 21.8 billion dollars, up 26 percent from the year before.

And he expects it to continue this year, rising 6 percent.

He says diesel and fertilizer prices remain quite volatile, in part due to the Russian invasion of Ukraine.

Anderson says farm incomes will continue to rise in 2023 but farm margins may be tighter due to higher costs.

More from 620 CKRM