North Dakota
Cropland prices in North Dakota on the rise
MINOT, N.D. (KMOT) – North Dakota farmers are seeing some of the highest prices for cropland in state history.
Agriculture Finance Specialist Bryon Parman said prices are up roughly 10.5% compared to last year. He explained that one of the factors contributing to the increase is high net farm incomes, which is increasing demand.
The high prices have helped increase the net worth of those owning farmland. However, they are making it difficult for those wanting to purchase more land.
Parman said the increase began in 2021, and since then, it has increased by 46%.
“What we’ve seen the last couple years is just some residual carryover increase, tailing that period of time,” said Parman.
Pasture rent prices are seeing an increase as well.
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