In 2013, farmland values in Saskatchewan saw the biggest increase of any Canadian province at 28.5% according to a report from Farm Credit Canada. This also marks the largest increase for Saskatchewan farmland values in a decade. The significant jump is being attributed to high grain prices early in the year, high cattle price later in the year, the biggest fall harvest in history, low interest rates, young producers returning to Saskatchewan and together with out-of-province buyers buying up farmland, and local farmers expanding operations through the purchase of farmland that they previously had rented. After Saskatchewan, Manitoba ranked second with farmland values increasing 25.6% in 2013, and Quebec was ranked third with values increasing 24.7%. Overall the average value of Canadian farmland increased 22.1% for 2013.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free weekly enhanced eNews service