Agriculture and Agri-Food Canada

Agriculture and Agri-Food Canada

June 02, 2006 12:56 ET

AAFC: New Software Helps Farmers Benchmark for Success

OTTAWA, ONTARIO--(CCNMatthews - June 2, 2006) - Agriculture and Agri-Food Canada (AAFC) has released the latest version of its Benchmark for Success CD. This free, easy-to-use program allows producers to assess the financial performance of their farm against other similar-sized operations.

The improvements to this latest version of the program include updated data, new revenue and production categories and a bonus financial management tutorial.

Using the producer's financial data, the Benchmark tool calculates commonly used financial performance indicators, and compares them with farms of similar size, type and region to determine how the farm business ranks against other farm operations. Information can be entered for multiple years to conduct a trend analysis, which assesses the farm's performance over time. The industry benchmark ratios are derived from Statistics Canada's Whole Farm Database.

Copies of the Benchmark for Success CD will be delivered by Statistics Canada to those farmers participating in the Farm Financial Survey this spring. Copies will also be available through Farm Credit Canada, regional AAFC offices and provincial government offices. In addition, the Benchmark for Success tool will soon be available for download off AAFC's Web site at: www.agr.gc.ca/compare.

For more information on Benchmark for Success, including how to get a copy, call Agriculture and Agri-Food Canada at 1-866-452-5558.

Contact Information

  • Agriculture and Agri-Food Canada, Ottawa
    Media Relations
    (613) 759-7972
    1-866-345-7972