The value of Saskatchewan farmland has risen sharply in this decade and it has taken the net worth of the province’s farming community along with it.
StatsCanada has just issued a revision of the value of the farming sector in this country, updating assets and liabilities to the end of 2024.
It shows Saskatchewan farmers with a net worth of $180 billion – roughly 20-percent of the total for the country. The key driver in the increase is land prices. In the five years that ended in 2024, the value of farmland had risen by roughly 60-percent in the province, hitting $160 billion.
The strengthening of Saskatchewan balance sheets – roughly 10-percent over 2023 – accounted for one-tenth of the total equity increase in the nation, by far the largest contributor to Canada’s agricultural wealth. Alberta was second with half our gain as every province in the nation saw farmers’ equity grow in 2024.
At $160 billion, farmland is by far the most significant asset on producers’ books as total assets, including inventory and machinery, totalled just over $200 billion.
