Debt owed by Canadian farmers increased more than twice as fast as farm capital over three years ended 2019.
Meanwhile net income has declined significantly since 2017.
The level of national farm debt increased 17.1 per cent to $114.9 billion, while total farm capital increased 7.4 per cent to $59.9 billion.
Net farm income fell 61.6 per cent nationally, according to Statistics Canada.
In Saskatchewan the rate of farm debt increased 19.1 per cent to $17.74 billion, while farm capital value was up 8.4 per cent to $16.84 billion.
Net income in this province fell 24.9 per cent to $2.25 billion, a much lower rate than neighbouring Prairie provinces.
This equates to a 13.3 per cent return on capital for Saskatchewan farms last year. The national return on capital was 8.6 per cent.
Alberta farm debt increased 15.3 per cent to $25.5 billion while farm capital was up 6.6 per cent to $16.25 billion.
Net income in Alberta fell 40 per cent to $789 million.
Manitoba had the largest mismatch in the rate of increase in the Prairies. Farm debt increased 15.7 per cent to $10.56 billion while farm capital increased a mere 4.4 per cent to $6.29 billion.
Manitoba saw the largest percentage decline in net income of 85 per cent to $419 million.
Ron Walter can be reached at ronjoy@sasktel.net
