Statistics Canada has just released a large amount of farm financial data. SaskAgToday.com’s chief agricultural editor Kevin Hursh has this analysis of the numbers:

Most of the Stats Can data is up until the end of 2022 and covers income, expenses, government support payments and farm debt. It’s a blizzard of numbers, but here are some key takeaways. Of all the provinces, total net income for 2022 was highest in Saskatchewan at $9.2 billion. Total net income includes depreciation expense as well as value of inventory change. After Saskatchewan’s 9.2 billion, the next highest provinces are Alberta at $6 billion, followed by Manitoba at $3 billion.

Farm debt continues to increase. Back in 2015, Saskatchewan farm debt outstanding was $12.8 billion. At the end of 2022, Saskatchewan farmers owed $20.4 billion, but that was less than the farm debt in Ontario, Alberta and Quebec.

Meanwhile, the value of farm capital has rapidly increased. In Saskatchewan, the total value of farm capital in 2022 is pegged at $145 billion, with $123 billion of that total being farmland and buildings.