Canadian farmland values continue to soften as we face uncertain times.
Farm Credit Canada says the average value of Canadian farmland increased by 5.2 per cent last year, the smallest increase over the past decade.
The 2019 increase follows gains of 8.4 and 6.6 per cent in 2017 and 2018, respectively, and is part of a five-year trend of softening growth in average farmland values.
In Ontario, average farmland values increased by 6.7 per cent in 2019.
FCC says COVID-19 makes the current economic environment challenging for farm operations and business owners throughout the entire food value chain.
