Zero farm bankruptcies

Despite the financial pressures facing farmers last year, federal records show that BC’s farm businesses remained solvent even as input costs and interest rates rose.

A sector-by-sector breakdown of the 3,402 business insolvencies reported by the federal Office of the Superintendent of Bankruptcy last year indicated that agriculture in BC remained in good health.

While many farms have been under pressure, the data suggests that many found ways to navigate the issues.

This was in stark contrast to other business sectors, which collectively saw business insolvencies increase 37 per cent last year versus 2021.

According to the Canadian Federation of Independent Business, many businesses have yet to see their sales return to normal while others are struggling under the weight of federal loans that helped carry them through the pandemic. The combination of low sales and debt repayment obligations has pushed them to the brink.

While the province refrained from asking farms to provide proof of income during the pandemic in order to obtain farm class status, 2020 saw three farms declare insolvency. These included two vegetable growers and a grain farmer.

This compared to a single hay farmer in 2018 and one vegetable grower in 2019 and represented the majority of the five insolvencies in the province’s agriculture sector over the past five years.

However, CFIB president and CEO Dan Kelly told Canadian Press that just because businesses aren’t declaring bankruptcy doesn’t mean they’re okay.

He said that for every business that declares insolvency, nine shut down in an orderly fashion.

The most recent federal Census of Agriculture reported a 10% decline in the number of farms province-wide between 2016 and 2021.

The decline in the number of farms corresponded with an increase in average farm size. Many farms that shut are consolidated either in whole or in part within larger, better-capitalized operations.

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22 hours ago

It was another sell-out at the 31st annual Fort Langley Cranberry Festival on Saturday with organizers selling 5,000 pounds of locally-grown, fresh berries in less than five hours. Youth from the Fort Langley Lions Club's Young Lions program scooped, bagged and weighed several pallets' worth of cranberries. Ocean Spray donated the berries, which the public bought to benefit the community. Local grower The Bog was also selling fresh berries, having brought 2,700 pounds, which were on track to sell out by the end of the#BCAgt.

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6 days ago

There was a lot of reminiscing and appreciation of how far BC's turkey industry has come at a reception celebrating the 75th anniversary of the BC Turkey Association and the 60th anniversary of the BC Turkey Marketing Board yesterday in Abbotsford. With a slideshow of events and people over the years, guests laughed and had a lot to be thankful for. "It's an opportunity to celebrate the industry at a time of year that's known for turkey. It's a culmination of all the year's work," says Natalie Veles, executive director with BC Turkey Marketing Board.

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Love it - Deb Etsell I see you 🤩

7 days ago

BC was the sole province to see farmland values decline in the first half of this year, dropping 1.9% according to a Farm Credit Canada report released Octover 7. This represented an acceleration in value declines from last year, and contributed to a 3.9% decline in the 12 montsh ended June 30. The drop follows on a 1.7% decline last year, which Farm Credit Canada attributed to tougher times in the fruit sector. However, the mid-year report points to a broader slowdown in value growth diven by higher production costs, tighter margins and uncertainty around trade, tariffs and international markets.

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Ndp

3 weeks ago

Channels of communication remain open between the provincial and federal governments with respect to financial relief for extraordinary costs stemming from this summer's ongoing drought and wildfires, but the BC Cattlemen's Association is urging producers to register for AgriStability to position themselves for any AgriRecovery package. "Hardworking families in the ranching and agriculture sectors, who provide food for the province, need the AgriRecovery program in place as soon as possible," says BC Cattlemen's president Alex Kuchar. But the provincial election creates an unfortunate delay. "It's not fair, in any form of the word, to see all those people who have lost so much in the fires to have to wait in limbo," says BC Cattlemen's general manager Kevin Boon.

Photo | Barb Edmonson / Firefly Ranch, Clinton

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Feedback on changes to rules governing food processing in the Agricultural Land Reserve has drawn about 250 submissions. But the proposal now hangs in the balance with Premier David Eby's decision to call a snap election, which also delays discussions of assistance for farmers hit hard by this year's wildfires and historic #BCAght.

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What would you expect from the NDP, when they still had a 2 year mandate?

Ridiculous timing. We have people needing answers and have to plan for winter supplies. Fires are long past, months have gone by knowing there was going to be the need for support. Drought was written on the wall even before summer began with no snow pack. This is not new to government and they are calling for another year just as bad for 2027. I throw my hands up and wonder what else needs to be more challenging than what we've experienced over the last 6 years in BC?

250 submissions.... I'm pretty sure there are more than 250 farmers in BC

OCTOBER 2026
Vol. 112 Issue 10

Zero farm bankruptcies

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