The value per acre of farmland in Canada has skyrocketed by 334% since 2001
, but most of the increases have occurred within the last few years. Since 2016, the increase has been 213%. The average acre in Canada is now worth almost $3,800, compared to $862 back in 2001, according to Statistics Canada. The value of an acre of farmland in Saskatchewan has increased by 391% since 2001, the highest in the country. The highest increase since 2016 is in Manitoba, by 266%.
What is pushing farmland values higher in Canada is a series of economic forces. The list includes high prices for commodity crops, a robust housing market, an extended period where interest rates were extremely low until recently, and a profusion of government subsidies supporting certain sectors.
Yes, farmland in Canada is getting more expensive, but farmers in Canada are also making more money. Again, according to Statistics Canada, cash receipts were a little over $36 billion. In 2021, that amount exceeded $83 billion, a record, and 2022 is likely to be another record year. Last year was also a record year for agri-food exports as well; if you’re a hedge fund, or an investor, these numbers will catch your attention, and they have.
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