The Lay of the Land Conference, held at the end of March, featured a report on rising Florida citrus land prices and more.

Land is an important component of being a citrus grower, with land trends being a continual interest. As such, the recent Lay of The Land Conference held by Coldwell Banker Commercial Saunders Real Estate (CBCSRE) on March 29th offered a Land Market Report that shared insights like rising Florida citrus land prices and more. See the details, gleaned from a Citrus Industry article, below.

Rising Florida Citrus Land Prices and More

Florida citrus land prices rose in 2018, according to the article, with “the price per net-tree acre was approximately 5.8 percent higher than in 2017, and the gross acre price was approximately 9.2 percent higher than in 2017,” citing data from the CBCSRE Land Market Report. One possible reason for the increase was that “The large growers get larger, and the small growers are getting out,” as shared by Dean Saunders, CBCSRE’s founder. Addition data showed that while, in the Indian River area, former citrus grove land generally sells in the high $3,000 to low $4,000 per-acre range, some parcels sold for $13,000 to $16,000 per acre.

Former citrus groves are also being repurposed, with the article citing crops like “solar fields, pongamia for biofuels, Chinese vegetables, tropical fruits, water farming and hydroponic farming” being planted on former citrus grove land. Additionally, land preservation programs have also become an attractive option for sellers. The article cited the report as saying “we continue to see some former groves converting to conservation lands with Wetlands Reserve Program easements providing an exit strategy at attractive prices.”

Residential and commercial development were also responsible for some citrus land sales in 2018. The report concluded that former citrus groves would likely continue to be a reality because while “citrus groves with ample production are profitable…citrus greening disease continues to reduce production and debilitate trees statewide.”

Griffin Fertilizer is committed to helping both growers and ranchers make sound agronomic and economic decisions in order to maximize the health of their grove and pasture. As a full-service custom dry & liquid fertilizer blender and crop protection product distributor, we will continue our mission to further advance Florida agriculture. For questions or concerns about your farm or pasture, contact us and one of our team will be in touch.