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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