Farmland prices increased by 19.4 per cent in Ontario, more than the national increase of 12.8 per cent and much better than expected
J.P Gervais of Farm Credit Canada said he is surprised by the increase; a year ago he anticipated price increases would moderate.
Lots of farmers are shopping to add land and not many are in a mood to sell at a time when receipts for grains, oilseeds and pulses increased 18.3 per cent last year.
That increase in revenues was more than enough to offset rising interest rates and higher costs for fertilizer, machinery and other inputs.
Quebec land prices went up by 11 per cent. Ontario's increase was far more than any other province.
