Financials
Financials
Source: Statistics Canada
- Farm cash receipts and operating expenses increased from 2012 to 2022, indicating growth in the agricultural sector.
- Operating expenses closely followed farm receipts, suggesting higher costs with increased revenue.
- The gap between receipts and expenses narrowed, especially in 2022, implying reduced profit margins.
- Receipts and expenses showed moderate growth from 2015 to 2018, then sharply increased after 2019.
- A significant rise in receipts and expenses in 2022 may result from market changes, production shifts, or external factors like climate.
Source: Statistics Canada
- Labour costs consistently account for over 15% of gross operating expenses.
- The timeline shows a gradual decline in labour costs, possibly due to increased efficiency or slower growth compared to other expenses.
- Recently, the labour cost ratio has stabilized around 20%, indicating predictability in expenses.
- The decrease may be attributed to mechanization, better farming methods, or shifts to less labour-intensive crops or technologies.
