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Alberta farmland values remain strong
LETHBRIDGE, AB. — During a year marked by economic upheaval due to the COVID-19 pandemic, Canada`s farmland market remained strong and stable in 2020. That upheaval included temporary food processing plant closures, some displaced exports, sector-specific labour shortages and significantly altered consumer buying habits.
The latest Farm Credit Canada (FCC) Farmland Values Report found national farmland increased by 5.4 per cent in 2020, slightly more than the 5.2 per cent increase reported in 2019.
FCC Chief economist, J.P. Gervais, notes, “Since land is the most valuable asset on any farm operation, the agriculture land market is a good barometer for measuring the strength of Canadian agriculture. Despite having gone through a uniquely volatile year, farm income generally improved and the overall demand for farmland remained strong throughout 2020.”
GervaiS says producer investments in farmland are a reflection of their confidence and optimism.