More than 65 per cent of farmers plan to purchase one or more additional cost-saving technologies or devices in the next five years, according to a survey by Farm Credit Canada.
Examples include upgrading computer systems, using computerized field maps and installing robotic milkers in dairy operations.
More than 80 per cent of respondents have implemented at least one cost-saving technology or device on their farm or ranch in the past five years.
“The improvements range from purchasing newer technology such as GPS or more cost-efficient equipment such as fluorescent lighting in barns or fuel-efficient vehicles and computers, to changing processes,” FCC research specialist Nicole Janeczko said in a release.
Over 80 per cent of respondents have implemented at least one cost-saving technology or device on their farm or ranch in the past five years.
The results show that of the more than 70 per cent who indicated that prior implementation of new technologies has resulted in cost savings, 63 per cent report saving up to $10,000, 22 per cent saved from $10,000 to $75,000 and two per cent saved more than $100,000.
Forty-two per cent of the 2,300 producers surveyed responded. They belong to the 9,000-member FCC national research Vision Panel.