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 average value of Canadian farmland increased 10.1% in 2015, according to Farm Credit Canada's annual appraisal update of 245 benchmark farms. The 2015 increase follows gains of 14.3% in 2014 and 22.1% in 2013. Overall, the average national values have continued to rise since 1993.
Every Canadian province saw gains in farmland values. Manitoba experienced the highest average increase at 12.4%, followed by Alberta at 11.6%, Quebec at 9.6% and Saskatchewan at 9.4%. The average increase in Prince Edward Island was 8.5%, followed by Newfoundland and Labrador at 7.7%. Ontario saw an increase of 6.6% and British Columbia saw average land values rise by 6.5%. Nova Scotia saw values rise by 6.3%, followed by New Brunswick at 4.6%.
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