Nova Scotia's farming industry has not turned a profit for eight consecutive years, losing over $41 million in 2024. Industry leaders are concerned about ongoing economic challenges, including rising operational costs and extreme weather, despite an increase in farm sales.
Nova Scotia farms were in the red last year — again
FarmingCropsFarmLivestockCanadaNova ScotiaNova Scotia Federation Of AgricultureStatistics CanadaBusinessAgriculture
AI Summary
TL;DR: Key points with love ❤️Nova Scotia's farming industry has not turned a profit for eight consecutive years, losing over $41 million in 2024. Industry leaders are concerned about ongoing economic challenges, including rising operational costs and extreme weather, despite an increase in farm sales.
- 1 2016: Last profitable year for Nova Scotia farms.
- 2 2020-2024: Farm sales rise by 35%.
- 3 2023: Amy Hill's husband restarts off-farm career.
- 4 2024: Nova Scotia farms lose over $41 million; Amy Hill's farm makes a small profit.
- 5 End of May (2025): Statistics Canada releases 2024 figures.
- 6 Last month (May 2025): Nova Scotia Federation of Agriculture hosts meeting with industry leaders and cabinet ministers.
- 7 Next year to 18 months: Federation's long-term strategy expected to be complete.
- 8 End of the decade: Projected shortage of 2,600 farm workers.
- Financial strain on farmers
- Farmers scaling back production
- Shrinking number of farm workers
- Potential food security issues (less local food)
- Need for government intervention and long-term strategy
What: Nova Scotia's farming industry has experienced financial losses for eight consecutive years, including over $41 million in 2024.
When: Annually, for the past 8 years (since 2016). Specifically, 2024 figures released end of May. Meeting last month. Strategy in the next year to 18 months.
Where: Nova Scotia, Canada.
Why: Rising cost of operations, extreme weather, harsh growing seasons, and a shrinking number of farm workers contribute to the ongoing losses.
How: Statistics Canada calculates annual farm profits/losses. Farmers are scaling back operations or relying on off-farm income. The Nova Scotia Federation of Agriculture is working on a long-term strategy and advocating for solutions with government.