. Agri-news. Agriculture. November 4,1991 Federal economists forecast higher farm income Realized net farm income in Alberta is expected to increase by two per cent in 1991 Agriculture Canada economists say in a third quarter outlook. Their revised 1991 farm income projections don't incorporate the $800 million federal farm aid package announced October 10, but do incorporate the new Gross Revenue Insurance Program (GRIP) and the Net Income Stabilization Account (NISA). "With the $180 million expected from this most recent federal initiative Alberta net farm income should hit about $590 m
. Agri-news. Agriculture. November 4,1991 Federal economists forecast higher farm income Realized net farm income in Alberta is expected to increase by two per cent in 1991 Agriculture Canada economists say in a third quarter outlook. Their revised 1991 farm income projections don't incorporate the $800 million federal farm aid package announced October 10, but do incorporate the new Gross Revenue Insurance Program (GRIP) and the Net Income Stabilization Account (NISA). "With the $180 million expected from this most recent federal initiative Alberta net farm income should hit about $590 million which is at the five-year average level," says Bill Schissel, senior statistician with Alberta Agriculture's statistics branch. Without the latest federal payment, net income was projected at just over $410 million. That total was slightly above the 1990 total of $403 million which represented a 45 per cent drop from 1989 net income. Crop receipts are expected to be down about five per cent at about $ billion. Increased deliveries seem to be offsetting the substantial drop in wheat and other grain commodity prices he says. Livestock returns are also down in 1991, expected at about $ billion. "The livestock sector is still strong, although cyclic price drops are reflected in the lower overall returns," he says. "As well, receipt totals for the two sectors are pointing to a clear divergence between the crop and livestock sectors. In the pas! they were approximately ; Total farm operating expenses are expected to drop slightly. On the dood news side for farmers, land rental, interest payments and Alberta Hail and Crop Insurance premiums were lower. These were largely offset by higher prices for fuel and machinery repair as well as the additional costs of GRIP premiums. However, the costs of GRIP premiums were offset to some degree in 1991 because Western Grain Transportation Stabilization premiums were no longer deducted from grain rece
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