2023 Saskatchewan farmland prices surge 15.7%, posing challenges for young farmers to expand and compete.

Soaring farmland prices in Saskatchewan, Canada, have become a major challenge for young farmers as they struggle to expand their operations and compete with large farms. Prices have grown for the past 20 years, with a 15.7% increase in 2023, the highest in Canada. The situation has made it difficult for young farmers, who often lack assets to finance land purchases, to compete against established farms. Experts suggest young farmers can rent land, set up purchasing agreements with older farmers, or consider tax changes that encourage retiring farmers to sell land to locals.

August 25, 2024
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