Ontario is now home to Canada’s most valuable farmland
Ontario is now home to Canada's most valuable farmland North Country Public Radio
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Farmland in Ontario and Alberta: A Comparison
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Introduction
Aug 21, 2023 — Alberta, rich in land for crops and ranching, was home to Canada’s most valuable farmland for many years. However, during the past three years, Ontario, which is also home to high-quality arable land, has pulled ahead statistically.
Statistics Canada’s Balance Sheet of Agriculture for 2022
- The total value of agricultural assets in Canada was CDN$837,949,302 in 2022, a 20% increase from 2020.
- The total value of agricultural real estate in Canada in 2022 was CDN$652,464,647, 78% of the total agricultural asset value for the entire country in 2022.
Ontario’s Farmland Value
- In 2020, the total value of farm assets in Ontario was CDN$177,582,963 and the total farm real estate value was CDN$141,034,336.
- In 2021, the total asset value was CDN $207,308,846 and total real estate value was CDN$169,876,346.
- In 2022, the total farm real estate value in Ontario was CDN$201,058,310 and the total agricultural asset value for the province was CDN$240,354,949.
Alberta’s Farmland Value
- Meanwhile, Alberta’s total value of farm real estate in 2022 was CDN$167,363,233 and the province’s total agricultural asset value for the year was CDN$212,712,467.
- The total agricultural asset value for Alberta in 2021 was CDN$192,825,829 and the total farm real estate value was CDN$152,268,982.
- For Alberta in 2020, the total farm real estate value was CDN$146,534,480 and the total agricultural asset value for the province was CDN$185,191,960.
Value of Farmland in Ontario
A look at Statistics Canada’s estimated value of agricultural land and buildings per acre reveals that the increase in the value of farmland in Ontario is not necessarily being increased by its actual potential for farming but for development.
The values are significantly higher in the Greater Toronto Area, and in the City of Ottawa, which includes rural areas formerly part of Carleton County. In Statistics Canada’s Eastern Ontario Region in 2021, the estimated value of agricultural land and buildings in Ottawa was CDN$11,378 per acre, which was the highest estimated amount in the region.
According to the Ottawa Real Estate Board (OREB), which represents realtors within the city limits and parts of three neighboring counties, the average sale price of a farm property within its territory in 2022 was CDN$1,464,383. In 2021, the OREB average was CDN$832,856. The 2020 OREB average farm sale price was CDN$670,301.
Comparison with the United States
Meanwhile, the most valuable agricultural real estate in the United States in 2022 was not in New York State. It was in Rhode Island. According to the United States Department of Agriculture Land Values 2022 summary, the average price per acre of agricultural real estate in the smallest of the 50 states in 2022 was US$17,500 per acre. New Jersey followed with an average of US$15,400 per acre. Massachusetts was third with a 2022 average of US$15,200 per acre in 2022.
In New York State, the average price per acre of agricultural real estate in 2022, according to the USDA, was $US3,450 per acre, which is below the national average. The average price of agricultural real estate for the entire USA in 2022 was US$3,800 per acre.
SDGs, Targets, and Indicators in the Article
-
SDG 2: Zero Hunger
- Target 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers, in particular women, indigenous peoples, family farmers, pastoralists, and fishers, including through secure and equal access to land, other productive resources and inputs, knowledge, financial services, markets, and opportunities for value addition and non-farm employment.
- Indicator 2.3.1: Volume of production per labor unit by classes of farming/pastoral/forestry enterprise size.
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SDG 11: Sustainable Cities and Communities
- Target 11.3: By 2030, enhance inclusive and sustainable urbanization and capacity for participatory, integrated, and sustainable human settlement planning and management in all countries.
- Indicator 11.3.1: Ratio of land consumption rate to population growth rate.
Analysis
The article discusses the increase in the value of farmland in Ontario, Canada, which is not necessarily due to its potential for farming but for development. This issue is connected to SDG 2: Zero Hunger and SDG 11: Sustainable Cities and Communities.
1. SDGs Addressed or Connected to the Issues
The issues highlighted in the article are connected to the following SDGs:
- SDG 2: Zero Hunger
- SDG 11: Sustainable Cities and Communities
2. Specific Targets Based on the Article’s Content
Based on the article’s content, the following specific targets can be identified:
- Target 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers, in particular women, indigenous peoples, family farmers, pastoralists, and fishers, including through secure and equal access to land, other productive resources and inputs, knowledge, financial services, markets, and opportunities for value addition and non-farm employment.
- Target 11.3: By 2030, enhance inclusive and sustainable urbanization and capacity for participatory, integrated, and sustainable human settlement planning and management in all countries.
3. Indicators Mentioned or Implied in the Article
The article mentions or implies the following indicators that can be used to measure progress towards the identified targets:
- Indicator 2.3.1: Volume of production per labor unit by classes of farming/pastoral/forestry enterprise size.
- Indicator 11.3.1: Ratio of land consumption rate to population growth rate.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 2: Zero Hunger | Target 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers, in particular women, indigenous peoples, family farmers, pastoralists, and fishers, including through secure and equal access to land, other productive resources and inputs, knowledge, financial services, markets, and opportunities for value addition and non-farm employment. | Indicator 2.3.1: Volume of production per labor unit by classes of farming/pastoral/forestry enterprise size. |
| SDG 11: Sustainable Cities and Communities | Target 11.3: By 2030, enhance inclusive and sustainable urbanization and capacity for participatory, integrated, and sustainable human settlement planning and management in all countries. | Indicator 11.3.1: Ratio of land consumption rate to population growth rate. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: northcountrypublicradio.org
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