Canada’s farmland values continued to climb in 2023, FCC reports

Mar 18, 2024

The average value of Canadian farmland continued its steady climb in 2023, increasing by 11.5 per cent, slightly less than the 12.8 per cent increase reported in 2022, according to the latest FCC Farmland Values Report.

“Farmland prices have continued to increase at a rapid pace over the last couple of years, even when economic conditions suggested the growth should slow,” said J.P. Gervais, FCC’s chief economist. “A limited supply of available farmland combined with a robust demand from farm operations is driving that growth.”

The highest average provincial increases in farmland values were observed in Saskatchewan, Quebec, Manitoba and Ontario, with double-digit average increases of 15.7, 13.3, 11.1 and 10.7 per cent, respectively. Four provinces had single-digit average increases and were below the national average at 7.8 per cent in Nova Scotia, 7.4 per cent in Prince Edward Island, 6.5 per cent in Alberta and 5.6 per cent in New Brunswick.

British Columbia recorded an average decline of 3.1 per cent, yet the province has the highest farmland values on average.

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Video: Democratizing Gene Editing - Pairwise’s Vision for the Future of Agriculture

Pairwise has built its business around an idea that runs counter to how many companies approach innovation: make transformative technology easier to access.

In this Seed World interview, CEO Tom Adams discusses why broader access to gene editing could speed crop improvement, expand innovation opportunities and help agriculture address emerging challenges. He explains why Pairwise believes no single company can solve all of agriculture's problems alone—and why making advanced breeding technologies available to more organizations could accelerate progress across the industry.

The conversation explores how consumer trust influences technology adoption, why innovations like pitless cherries and seedless blackberries matter beyond convenience, and how future crop improvements could help address labor shortages, automation, harvest efficiency and other production challenges. Adams also shares his perspective on what the industry may be underestimating about the next wave of gene editing innovation.

Watch the full interview to hear why Pairwise believes agriculture is approaching an important inflection point for gene editing, and why the pace of innovation over the next decade could surprise the industry.

Topics Covered:

o Democratizing agricultural innovation

o Consumer trust and technology adoption

o The business case for sharing innovation

o Expanding innovation beyond major crops

o Next-generation breeding technologies