Farmland seeing record high prices in California

January 4, 2013 12:39:06 AM PST
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.