After bottoming out in the late 1980s, the value of farmland in the Midwestern US has risen dramatically. For example, the value of high-quality Iowa farmland has increased 12.5pc annually, on average, since 2000. The increase has been driven in part by higher world demand for grain, say Jeffrey R. Stokes and Arthur T. Cox of the University of Northern Iowa; farmland values are highest near plants that convert corn into ethanol for fuel.
(Source: Journal of Real Estate Research)
Published in Dawn, Economic & Business, August 25th, 2014
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