Survey finds farm confidence still faltering
By Roberta Rampton
Farmers in Saskatchewan will soon have to worry about an ever-increasing cost of living.
According to a survey released Wednesday by the Canadian Federation of Independent Business, farmers have lost mo우리카지노re than one-third of their confidence in their own economic future over the past year.
At the same time, the poll found more rural Canadians have been growing more comfortable with their income. According to the survey, Saskatchewan farmers are much more likely to expect their incomes to increase over the next year and one.
«We’ve seen a really good year in the farm sector, but we’ve also seen a decline in confidence among farmers. It’s disappointing, but we’ve not seen a massive, catastrophic, dramatic drop in confidence, though we have seen a trend of what we expect to happen as farming is increasingly recognized as an economic sector,» said CFO Jim Hall with the Alberta Farm Bureau Federation.
While the survey indicated that more Saskatchewan farmers had confidence in their future financially, in 2015, only 25 per cent of rural Saskatchewan farmers had the confidence to report confidence in their future economic situation to CIBC Global Index of Agriculture, Forestry, Fishing, and Parks and Resources.
This year, however, that number jumped to 28 per cent.
While a substantial number of rural farmers did not see an overall increase in confidence over the past year, more rural farmers are also experiencing problems with the Canadian dollar.
A growing number of rural Saskatchewan farmers have begun to face new problems as a result of rising international prices and the rising cost of raw materials.
The price of Alberta crude oil dropped from $147 US per barrel to $90 per barrel after the U.S. Federal Reserve began its policy of quantitative easing in September 2014. The rate of reduction in oil has meant more revenue is available for the provinc바카라e. But many members of the oil patch worry that higher fuel costs could reduce production.
«There’s a lot of uncertainty for our farmers,» said Hall. «The uncertainty for farmers is a lot of what has gotten to us because of the increased Canadian dollars they’re receiving.»
Although oil prices haven’t necessarily affected the sector negatively, it’s being negatively affected.
Hall added the survey also confirms the growing number of farmers that are investing in their land, especially to protect livestock.
«We’re seeing more and more people with the opportunity to do that. It’s creating a lot of capital investments that are very much worth it for thos