Droughts increase premiums for US farmland with access to water

Shrinking water supplies are creating a two-tiered market in farmland investing, lifting values for properties with access to groundwater or aquifers. Much of the land in California’s Central Valley, which accounts for about a quarter of US food production, is idle this year as a megadrought forces unprecedented cuts to water supplies.

But it doesn’t end there: crops are being affected from Nebraska to Maine. Also, food and fuel prices have soared since Russia invaded Ukraine, keeping vital grain supplies off the world market.

Source: bnnbloomberg.ca

Photo source: Dreamstime.com

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