By Alice McFarlane

Agriculture Roundup for Monday September 14, 2020

Sep 14, 2020 | 9:57 AM

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.

The FCC said farmland value was slightly higher in western provinces with Alberta reporting an increase of 8.5 per cent compared to 3.3 per cent for the same period last year and Saskatchewan prices up 7.9 per cent compared to 6.2 per cent.

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Farmland value was slightly lower in central and eastern parts of the country, with the exception being New Brunswick.

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The organic industry has received federal government funding to help get more Canadian-made organics on store shelves.

Canadian Organic Growers (COG) will receive $640,000 to develop a strategy to identify and find solutions to organic supply chain barriers so more Canadian consumers can buy locally produced Canadian organic food.

Much of the Canadian demand for organics is met by imported products.

A final report will be published that will explore investment opportunities to meet domestic consumption.

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alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF