April 26, 2010
FREDERICTON (CNB) - Farmers in New Brunswick made $52.9 million in profits in 2009. They had sustained a $2.7 million loss in 2008.
"I am encouraged by this improvement in New Brunswick's farm financial picture," said Agriculture and Aquaculture Minister Ronald Ouellette. "In spite of the economic downturn, our producers have managed to be competitive at a time when farm income in the rest of Canada dropped significantly. They are to be commended for their commitment and dedication to the province's agriculture sector."
Total net income in Canada decreased by about 75 per cent to $1.2 billion from $5.1 billion.
At the same time, farm cash receipts in New Brunswick reached $482.9 million in 2009, up from
$464.7 million in 2008. New Brunswick crop receipts increased by six per cent over 2008, while livestock increased by one per cent.
Total crop income accounted for most of the income change to $229 million from $215.9 million, while livestock income was more stable with an increase of slightly more than $1 million to $222.6 million.
The most significant improvements by commodity were for potatoes, where income improved by $7 million to $120.1 million from $113.5 million. Total fruits income increased by $3.7 million to $29 million.
The agriculture and agri-food sectors are important components of the provincial economy, involving 2,776 farms and about 150 processing plants to produce $1.27 billion in agri-food and beverage products. The sector provides more than 6,000 direct jobs in primary production and an estimated 7,500 jobs in secondary packaging and processing.
MEDIA CONTACT: Bruce Melanson, communications, Department of Agriculture and Aquaculture, 506-462-5042.