Agriculture Roundup for Monday September 14, 2020
SASKATCHEWAN – The average price of farmland in Canada has increased again.
Farm Credit Canada (FCC) chief agricultural economist J.P. Gervais said while the rise was modest in the first six months of 2020 the full impact of the COVID-19 pandemic is yet to be determined.
The national average price for farmland values rose 3.7 per cent for the first half this year. Gervais said considering the economic situation the farmland market is showing resilience in uncertain times.
“Changes to production and marketing plans induced by the pandemic have had a definite influence on profitability, yet the demand for farmland remained robust,” Gervais said in a media release.