The first half of the year was a busy one for farm property transactions, with BC Ministry of Finance data released this month indicating an 88% increase in transaction volume to 975 deals. While the value of those properties isn’t disclosed, the regional breakdown was. According to the numbers, the Peace was both the most …
Farm Credit Canada
Borrowing costs begin to bite
Three increases this year to the Bank of Canada’s overnight lending rate are raising financing costs for farmers. The central bank’s benchmark rate increased to 1.5% on June 1, six times what it was at the start of the year. Prior to the first increase in March, the benchmark rate had been 0.25% since March …
Mental health in the spotlight
Comprehensive financial compensation for BC mink farmers being pushed out of business and growers displaced by the ongoing extreme weather across southwestern BC has yet to be announced, but in both cases the province has been quick to highlight mental health support for growers. The province’s agriculture ministry even went so far as to say …
The battle continues long after the war is over
In November 1968, I worked on a maintenance project in a large Vancouver sawmill. To avoid the worst of the morning traffic on the Patullo bridge, I left home early and regularly spent the half-hour before work on my own drinking coffee in the gloomy lunchroom. I arrived one morning to the sound of weeping …
Produce drives BC exports
Canada’s ambitions of achieving $75 billion in agri-food exports by 2025 were set back by COVID-19, but the prospects remain bright as Marie-Claude Bibeau once more takes the reins of the department following September’s election. Farm Credit Canada released its annual review of trade shortly before Bibeau was sworn into cabinet this week, highlighting Canada’s …
Kootenay farmland values surge
Kootenay farm properties led BC with the strongest increase in value last year, according to Farm Credit Canada, rising 28.1% versus a year ago to $15,300 an acre. “Buyers tended to be from outside the Kootenay region and larger urban centres, which created sudden and potentially short-term competition for land,” reported FCC in its annual …