Crop prices up again in April
Prices for wheat, canola and other farm products continued to rise in April
By Siddhartha Bhattacharya, ATB Economics 16 June 2022 less than a minute
Driven by world supply disruptions, strong demand and tight supplies, nationwide farm prices moved higher in April.
The price of canola (including rapeseed) received by Alberta’s farmers grew by 6.8%, averaging $1,044 per metric tonne in April compared to $978 in March. This was the seventh consecutive monthly increase in canola prices.
Driven largely by geopolitical disruptions, wheat prices (excluding durum) rose by 3.9% in Alberta in April. This was the twentieth monthly increase in a row.
On a year-to-date basis, both canola and wheat prices were up by 61% from the same point in 2021.
Meanwhile, lentils and dry peas prices also ticked up in April after cooling slightly in March.
The higher prices are good news for Alberta farmers and will help offset higher costs for fuel and fertilizer, but are adding to the cost of food at the consumer level.
Answer to the previous trivia question: The Ford Model T car was introduced in 1908.
Today’s trivia question: How many farms were there in Alberta in 2021?