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Country 105

Country 105


Agriculture Report

Farmers Expected to Make Less

By Fadi Didi

Agriculture and Agri-Food Canada predicts net cash income for farmers is to decline slightly.


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Agriculture and Agri-Food Canada is predicting net cash income for farmers is likely to decline slightly for 2016 and 2017.

Net cash income in 2016 is estimated to slip by two per cent to $14.8 billion, with another seven per cent decline in 2017 to $13.8 billion.

The department blames weakness in North American livestock markets for most of the decline.

However, net cash income will still be higher than the average over the previous five years.

Livestock receipts are expected to be down seven per cent for 2016 to $23.9 billion, with a further decline of four per cent for 2017.

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Police in Sicily have confiscated four olive companies, farmland, villas and other property that anti-Mafia prosecutors contend belong to the business empire of Italy's top Mafia boss, who has been on the run for more than 20 years.

The property is considered to be a Mafia power base and is estimated to be worth 14 million dollars.

Prosecutors alleged the olive businesses and 108 other properties, plus vehicles and bank accounts, were listed in the name of accomplices to hide their actual ownership by the fugitive.

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Federal Agriculture Minister Lawrence MacAulay and Farm Credit Canada have announced a new loan for young entrepreneurs in the agriculture retail, manufacturing and food processing sectors.

The Young Entrepreneur Loan offers financing of up to one million dollars per qualified applicant, under age 40, and can be used for the purchase or improvement of agriculture-related assets or shares in an agriculture-related business.

This access to capital will allow these businesses to take advantage of new opportunities, grow the economy and create more middle class jobs.

The Young Entrepreneur Loan has a 25 per cent minimum down payment requirement.

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One of the owners of a Saskatchewan farm equipment dealership is helping equip a medical and dental clinic in a very poor neighbourhood in Puerto Vallerta, Mexico.

Darryl Derksen, president of Glenmor Equipment Ltd. in Prince Albert, is semi-retired and stays most of the winter in Mexico.

Derksen decided to get involved in the project about a year ago after overhearing a conversation between two women by a swimming pool.

He says one woman said she had accepted the responsibility to find a used dental chair for the clinic, which Derksen says caught his attention because he has several friends who are dentists in Saskatoon.



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