Northern Ontario leading Canada in farmland value increase

Recent statistics from Farm Credit Canada indicate there may be a silver lining to the clouds currently hanging over Canada’s agricultural sector.
In a recent press release, the federal Crown corporation announced the value of farmland nationwide is continuing its three-year increase and the biggest increase appears to be in Northern Ontario.
According to FCC, the strong demand here is the result of farmers wanting to ensure they have enough land to implement sound nutrient management practices.
Canadian farmland values rose 2.3 percent in the first six months of 2003, while in Ontario, the increase was 3.8 percent. Only Newfoundland and P.E.I. showed no apparent increase over the period, while Nova Scotia’s value increased by a mere 0.5 percent.
“This sustained growth across the country is encouraging for agribusiness, farm companies and rural communities,” remarked Jay Henryk, assistant vice-president of valuation and credit policy at FCC. “Increases in land values are a major indicator of Canada’s dynamic and vibrant agriculture industry and the ability of producers to face and overcome challenges,” he added.
FCC is a federal Crown corporation reporting to Parliament through the Ministry of Agriculture and Agri-Food. It is the country’s largest agricultural term lender. It’s corporate head office is in Regina.