Ag supplies sees record sales

REGINA — Saskatchewan’s wholesale trade hit a record high of $2.5 billion in February, up about 26 per cent over last February, the largest year-over-year percentage increase among the provinces, according to data released by Statistics Canada.

“In Saskatchewan, sales rose for the sixth time in seven months, up 7.3 per cent (from January) to $2.5 billion, the highest level on record, on the strength of gains in the miscellaneous subsector,” the report said Tuesday.

Wholesale trade was up 7.3 per cent between January and February, the highest increase on a percentage basis among provinces, and well ahead of the 0.4 per cent decline recorded nationally.

Nationally, sales rose for the sixth time in seven months in the miscellaneous subsector, increasing 2.1 per cent to $7.4 billion, the federal agency said. The agricultural supplies industry led the sector with a gain of 9.3 per cent, its fifth increase in six months, reaching its highest level since May 2008.

“With diversity in our economy, we are able to better absorb short-term challenges like those in the energy sector,” Economy Minister Bill Boyd stated in a news release. “Many financial analysts are predicting that over the long-term, the economy will show strength in the west, and results like this are proof Saskatchewan remains strong.”

Doug Elliott, publisher of SaskTrends Monitor, said agricultural supplies, such as fuel and fertilizer, were entirely responsible for the record wholesale trade numbers in February. “Ag supplies is the story here,” Elliott said. “Last February, we sold $600 million” in ag supplies, Elliott said. “This (February), we sold $1.1 billion.”

“We’re up 78 per cent year over year in February; yearto-date sales are up 56 per cent.” That’s after posting a “huge increase in January” of 33.5 per cent, he added.

Across Canada, wholesale trade fell for the second month in a row in February.