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2020 Canadian farm cash receipts rise
Statistics Canada released the 2020 farm cash receipts report, and despite all the logistical challenges last year total farm cash receipts hit another record high of $71.7 billion, with an eight percent year over year increase. This was after 2019 had a six percent increase from 2018. This is the 11th consecutive year that total farm cash receipts have grown. Over the past 10 years, total farm cash receipts have increased at an average rate of five percent.
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Crop receipts have increased at an average rate of seven percent, while livestock and livestock products have increased on average four percent. In 2020, total crop receipts accounted for most of the increase, up 14 percent to $41.9 billion. Total livestock and livestock products were down just under one percent to $26.4 billion. Direct payments to producers from
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