By Fadi Didi
Farm Credit Canada says farm revenues will be driven by volume rather than price.
Over the next year, an economist with Farm Credit Canada says farm revenues will be driven by volume rather than price.
J.P. Gervais says given this shift, farmers need to look towards agricultural innovation in order to increase efficiency and productivity, as well as manage their costs.
After the third increase in interest rates in the past six months, farmers are asking Gervais if Canadians are seeing the beginning of a trend.
While reluctant to predict a trend based solely on interest rates, Gervais says Canadians face about a 50 per cent chance of another interest rate increase before the end of March as American rates are also trending up.
He says producers need to review their loan portfolios and evaluate the risks of possible interest rate increases.
An Ottawa farmer wants to turn a vegetable farm in the Ottawa area, into a million square feet of cannabis production.
In the first step of what is a multi-jurisdictional approval process, a rezoning application goes before the city of Ottawa's agriculture and rural affairs committee this week.
Peter Abboud's farm currently produces tomatoes, beans and cucumbers for various Ottawa farmers markets.
Abboud is partnering with LiveWell Foods Canada and proposes converting the vegetable production to cannabis cultivation, doubling the current greenhouse space.