By Manny Paiva
FCC says average value of farmland in Ontario went up by nearly 16 per cent last year.
We told you earlier this week that farmland values in Canada are up significantly -- and that includes land here in Ontario.
Farm Credit Canada has released its "Farmland Values Report."
It shows the average value of farmland in Ontario went up by nearly 16 per cent last year.
That follows an increase of 30 per cent in 2012 and about 14 per cent in 2011.
The FCC says land with the most favourable soil types commanded high market demand -- and Huron, Simcoe, Middlesex and Elgin Counties led the way with the most significant increases.
The main reason is favourable soil types.
Agriculture Canada has also released a report on the industry's performance in 2012.
It says the farm and food sector displayed "robust'' performance.
The report says Canadian agriculture also had high farm income levels, strong market receipts, stable profit margins, and increased export sales.
Stats show in 2012 that Canadian export sales grew by 8.1 per cent.
Canada is the world's 5th largest exporter, with sales of 43.6 billion dollars.
That accounts for 3.5 per cent of the total value of agriculture and agri-food exports in the world.