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USDA to collect data on farmland rental rates
Story Date: 2/24/2017
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Source: USDA, 2/23/17
Beginning this month, the U.S. Department of Agriculture’s National Agricultural Statistics Service will contact North Carolina farmers to gather land rental rate information for the Cash Rents and Leases survey. The results of this survey will serve as a valuable decision-making tool for farmers and can be used for 2018 rental agreement negotiations.
“This brief survey is our only source of county cash rental rates,” said Dee Webb, North Carolina state statistician. “By responding, producers help the farming community and ensure USDA bases its decisions on the most accurate data. For example, the Farm Service Agency (FSA) uses the cash rental rates to determine market-based rates in administering USDA programs, such as the Conservation Reserve Program (CRP).”
NASS will publish average cash rental rates at national, state and county levels for nonirrigated cropland, irrigated cropland, and pastureland Sept. 8, 2017.
Nearly 8,500 North Carolina farmers will receive the survey forms. NASS offers the option of responding online via a secure internet connection. In late March, NASS representatives will begin calling and visiting landowners who have not yet responded.
“NASS will combine farmer’s responses with their fellow producers nationwide, providing the only accurate and comprehensive estimate of U.S. average rent and lease rates,” Webb added. “State and federal government agencies, universities, and research organizations also use these data for other forms of economic analysis. In addition, the data provide farmers with current information about rental rates and are available for their use in decisions regarding renting and leasing farmland.”
For more information about the Cash Rents and Leases survey, call the NASS North Carolina Field Office at (800) 437-8451, or visit https://www.nass.usda.gov/Statistics_by_State/North_Carolina/.
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