Canadian agriculture optimism grows: survey
Agribusiness optimism has jumped to its highest levels in four years, according to a new Farm Credit Canada (FCC) national survey.
Across Canada, FCC surveyed 4,900 farmers. Seventy-six per cent said their farm or business would be in better standing five years from now. The remaining 24 per cent was evenly split between being worse off and reporting no change.
“Challenges in agriculture are all around us, it’s a complex industry,” said FCC President Greg Stewart. “At the same time, when we ask about the future of agriculture in general, the survey results echo what we hear from the majority of our customers. They love their work and believe that agriculture is a sector with opportunities.”
The survey also discovered 57 per cent of Alberta producers are planning to expand or diversify their farming operation in the next five years.
It’s a move that doesn’t surprise Clem Samson, Farm Credit Canada’s vice-president of western Canada.
“It’s very attractive to young people,” he said.
“Children are returning from the city and going back to the farm. We’re seeing expansion to accommodate a larger family unit.”
“The future for agriculture is much brighter than when I started farming,” one survey participant wrote. “Both my boys want to farm and I feel it is a much better future for them.”
Despite the positive results, 45 per cent of Albertans said their two biggest concerns were making a profit and rising input costs.
“The results were not surprising, although, in agriculture, all the sectors do not move in the same way,” said Clemson. “For every three sectors up, you’re going to have two going through challenges.”
Sixty-eight per cent of Alberta growers said they plan no changes for increasing or decreasing spending on land, 25 per cent said it will increase and seven per cent said it would drop.
Similar numbers were reported regarding storage and transportation budgets.
The survey’s margin of error was plus or minus one per cent, 19 times out of 20. To see the survey in full, visit www.fccvision.ca
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