The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Mike Walsten has covered major business trends in agriculture for more than 40 years.
The value of Canadian farmland rose 3% during the first half of 2010, according to Farm Credit Canada (FCC). FCC is Canada's leading agricultural lender with more than $19.7 billion in loans. Since 1990, FCC has appraised 245 benchmark farm properties across the nation to monitor changes in the value of bare farmland. The appraisal updates are conducted twice a year covering the first half and second half of each year.
This year, the appraisal update found Canadian farmland rose 3% in the first six months of 2010, following gains of 3.6% and 2.9% in the previous two reporting periods. Farmland values remained stable or increased in all provinces except British Columbia, which saw a 0.9% decrease. Ontario experienced the highest average increase at 4.3% followed by Manitoba at 3.4% and Nova Scotia at 3.1%. Alberta and Saskatchewan both reported a gain of 2.9%.
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