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KINGSTON, Ont.:  The average value of farmland in Ontario increased by 4.3 per cent in the first half of this year.

That followed gains of 3.3 per cent and 2.8 per cent in the two previous reporting periods.

The Farm Credit Canada Farmland Values Report released this morning shows the hike as being the highest average increase across Canada.

Published twice a year, the report provides important information about changes in land values across Canada.

Ontario farmland values have been rising since 1993 and rose by an average of 0.5 per cent per month during the two last reporting periods.

Overall, the average value of Canadian farmland increased 3.0 per cent during the first six months of 2010.

Farmland values remained the same or increased in each province except British Columbia.

An FCC official, Michael Hoffort, says the prices paid for farmland today often reflect the conditions and events experienced by producers over the past six to 12 months. (CJTN)