B.C.’s farmers lost $457M in 2024, the most in Canada

British Columbia farmers faced a staggering loss of $456.9 million in 2024, making it the province with the largest net loss in Canada last year. According to Statistics Canada, B.C. farms have been struggling to turn a profit since 2017, with each year seeing a larger net loss than the previous.

The B.C. Agriculture Council attributes this loss to a combination of factors, the primary one being the exorbitant cost of acquiring suitable agricultural land in the province. The average farmer in the Lower Mainland is burdened with millions of dollars in debt, making it difficult for them to sustain their operations. Additionally, a series of climate disasters, including the devastating floods in the Fraser Valley in 2021, have wreaked havoc on B.C. farms. More than 1,100 farms were affected, leading to the loss of over 60,000 hectares of farmland.

Jennifer Woike, the president of the B.C. Agriculture Council, emphasized the need for increased government compensation programs to support farmers affected by climate disasters. She also called for an update to the province’s 52-year-old Agriculture Land Reserve (ALR) to ensure the survival of farms in the future. Woike, who owns a poultry farm on Vancouver Island, highlighted the challenges faced by farmers without intergenerational wealth and land, particularly the high cost of acquiring large acreages.

Climate change has further compounded the challenges for B.C. farmers, with extreme weather events such as heatwaves, floods, droughts, and wildfires causing significant crop losses. Woike commended the province’s efforts in climate mitigation and disaster relief programs but noted that bureaucratic hurdles often hindered farmers from accessing full compensation for their losses. The recent imposition of U.S. tariffs has also added to farmers’ woes, as they rely on imported fertilizers and pest control products.

In response to these challenges, the B.C. Agriculture Council is urging the government to update the ALR and enhance support for farmers facing financial difficulties. Agriculture Minister Lana Popham emphasized the importance of B.C.’s farmers in ensuring food security and economic stability. The government has allocated $175 million to tree fruit growers through climate-related financial assistance programs and is working on policy changes to better support the agriculture sector.

As B.C. farmers continue to grapple with mounting losses and external challenges, the government’s commitment to addressing these issues and supporting the agricultural industry is crucial for the resilience and sustainability of the province’s farming community. By investing in climate adaptation measures, updating agricultural policies, and providing adequate financial support, B.C. can bolster its agricultural sector and ensure a prosperous future for its farmers.