AG Watch

Farmland seeing record high prices in California

Friday, January 04, 2013

Ag officials say the price for an acre of farmland has reached as a high as $14-thousand in some places.

The U.S. Department of Agriculture says the average acre of land was valued at $7,200 last year. That's a record high for California and more than the previous record set in 2011.

Ag officials say a huge boom in the nut market is driving up prices for ag land. Growing demand in China for California-grown products is also expected to continue driving up the price of farmland.

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