By David Opinko

Net farm incomes in Alberta rose 46% in 2020: Stats Canada

May 26, 2021 | 11:22 AM

LETHBRIDGE, AB – 2020 was a challenging year for most businesses, but a new report from Stats Canada shows that many farmers were able to thrive in the pandemic era.

Across the country, the realized net income for Canadian farmers increased by 84.2 per cent to $9.9 billion last year.

Farm cash receipts, which include crop and livestock revenues as well as program payments, saw the largest rise since 2012.

Those in Alberta saw a bit smaller gain but it was a positive change nonetheless.

The total net income for Albertan farmers increased 46 per cent in 2020 to $1.054 billion.

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Crop revenues rose 14.8 per cent nationally with canola, lentils, and cannabis leading the way. Canola in particular had the largest percentage increase in a decade.

Receipts for lentils more than doubled in 2020, bolstered by strong demand in Turkey and India.

Higher export demand for most Canadian grains and oilseeds boosted revenues as well.

Cattle, on the other hand, fell by 1.1 per cent to $26.3 billion.

Early on in the COVID-19 pandemic, several meat processing facilities in Alberta were temporarily shut down, leading to large backlogs.

READ MORE: Pandemic causing ‘unprecedented’ threat to beef and pork producers

Livestock price insurance program payments tripled in Alberta as a result, but all crop insurance and stabilization programs were used far more this past year.

Direct program payments rose 10.8 per cent while crop insurance payments rose 21 per cent.