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Farmland prices in Canada increased 10 percent

Staff writer |
The average price of farmland across Canada increased 10.1 percent last year as low interest rates and strong crop income helped maintain demand.

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A report released Monday by Farm Credit Canada says last year's gains are part of a continuous upward trend that started in 1993.

The gains, however, are lower than in recent years, and pale in comparison to the 22 percent increase seen in 2013, and the 14 percent seen in 2014.

Across the country last year, farmland increased on average by:

-12.4 percent in Manitoba.
- 11.6 percent in Alberta.
- 9.6 percent in Quebec.
- 9.4 percent in Saskatchewan.
- 8.5 percent in Prince Edward Island.
- 7.7 percent in Newfoundland and Labrador.
- 6.6 percent in Ontario.
- 6.5 percent in British Columbia.
- 6.3 percent in Nova Scotia.
- 2.6 percent in New Brunswick.

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