Farmland values in Manitoba continued to climb in 2016, but lost steam compared to previous years.
This according to Farm Credit Canada's latest Farmland Values Report.
The average value of Manitoba farmland increased 8.1 per cent in 2016, following gains of 12.4 per cent in 2015 and 12.2 per cent in 2014, continuing a trend of climbing values since 1992.
In six provinces, the average increase in farmland values slowed from the previous year and despite the overall national increase, seven of the 51 regions assessed across Canada showed no increase in farmland values in 2016.
“The impact of some of the key farmland value drivers appear to be fairly consistent across Canada,” said J.P. Gervais, FCC chief agricultural economist. “Levelling out of commodity prices and some challenging weather conditions may have taken some of the steam out of farmland values and hopefully this moderating effect will turn into a trend.”
Source : Portageonline