The value of total farm capital is up — way up, according to the latest numbers from the 2021 Statistics Canada agricultural census.
The market value of farms has risen since the last 2016 census by more than $509 billion to $690 billion. The latest numbers show total farm capital has more than doubled in the last decade, up from $330 billion in 2011.
The total value of farmland and buildings has risen by 22 percent since 2016 to $603 billion and has skyrocketed since 2011’s $276 billion valuation.
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But while the value of farms continues to go higher, the number of farms is following a downward trend.
In 2011, Statistics Canada reported that those billions in farm market values were held by 205,000 farms. The number dropped to 193,000 in 2016 and 189,000 in 2021.
Also on the rise is the value of farm machinery and equipment, rising nearly four percent from 2016 to $64 billion. That value was $41 billion in 2011.
Contact alex.mccuaig@producer.com
