The price of farmland on different sides of the US-Canada border varies significantly, The Western Producer reported on May 1.
Soil type and growing conditions are similar in the province of Saskatchewan in southeastern Canada and the state of North Dakota in the northwest of the United States. Farmers grow the same crops: rapeseed, spring wheat and other cereals. However, the price of land varies significantly.
In 2019, in Dakota, land cost $1,640 (150,000 rubles) per acre or $4,053 (370,000 rubles) per hectare. In 2021, 1,740 dollars (160 thousand rubles) per acre or 4,300 dollars (395 thousand rubles) per hectare. In 2023, $1,932 (175,000 rubles) per acre or $4,774 (440,000 rubles) per hectare.
In Saskatchewan, in 2019, they asked for $1,843 (170,000 rubles) per acre or $4,554 (420,000 rubles) per hectare. In 2021, 2,200 dollars (200 thousand rubles) per acre or 5,436 dollars (500 thousand rubles) per hectare. In 2023, 2,900 dollars (265 thousand rubles) per acre or 5,436 dollars (500 thousand rubles) per hectare.
The price difference has been widening over the years. In 2021, land in Saskatchewan was more expensive than in the United States by 203 dollars (18.5 thousand rubles) per acre, in 2023 it was already 968 dollars (89 thousand rubles) per acre or 2392 dollars (220 thousand rubles) per hectare. The difference reaches 33%.
Land in northwest North Dakota is relatively cheap compared to other parts of the state. From 2019 to 2024, the average farmland price in southeastern North Dakota increased from $2,928 per acre to $4,235 per acre, an increase of $1,300 per acre.
“Corn and soybeans have changed the dynamic of North Dakota. … I can’t afford to pay $6,000 (550 thousand rubles) per acre for peas… To pay that amount of money, I have to grow corn, soybeans, sugar beets or potatoes.”said NDSU agricultural finance specialist Bryon Parman.
Both Saskatchewan and North Dakota have restrictions on land ownership. In Saskatchewan, only Canadians can purchase agricultural land. The province prohibits public companies and pension funds from owning land.
Neighboring North Dakota allows the purchase of land in “limited circumstances” corporations and legal entities. These circumstances include family members and cooperatives.
In 2022, a company controlled by Bill Gates acquired a 2,100-acre (849 ha) potato farm near Grafton, North Dakota, for $13 million (1.2 billion rubles). The purchase angered some of the state’s farmers, but North Dakota’s attorney general approved the deal.
Source: Rossa Primavera
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.