Farm input costs stable

BC farm input costs are increasing on par with the average for Western Canada, Statistics Canada reported this week.

The agency reported that BC farm input costs increased 4.1% in the first quarter versus the same period a year ago. The average for Western Canada was 4%, while the increase nationally averaged 3.2%.

The biggest gains were in fertilizer, which increased 13.7%. Grain feed costs increased 6.5% in the quarter while general business costs increased 6.2%

The biggest savings occurred on machinery fuel, with costs down 7.4% in the quarter versus a year earlier.

Softer livestock prices meant hogs and cattle were 10.4% and 8.9% cheaper than a year ago.

Greater costs, including depreciation, handed BC growers a loss of $11.3 million last year. This was the first loss since 2014, which capped a nine-year run of losses that began in 2006.

Total farm revenue in the province last year approach $3.5 billion.

All content on this website is copyrighted, and cannot be republished or reproduced without permission.