Saskatchewan farmland values rise again

Saskatchewan farmland continues to be a valuable commodity, with the price of land rising for the eighth consecutive year.

Farmland values increased by 2.7 per cent in the second half of 2010, according to the latest report by Farm Credit Canada (FCC)

Farmland increase in Saskatchewan out paced the national growth rate of 2.1 per cent over the same period, however Prince Edward Island recorded the highest average increase of 3.7 per cent, said the FCC.

“Canadian land values are strong and, looking at world markets in our current financing environment, there are factors in place that could exert further upward pressure on the price of farmland,”said Jean Phillip Gervais, FCC Senior Agricultural Economist.

Rising incomes and population growth in emerging countries is increasing the demand for agricultural commodities, Gervais said.

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