Farmland returned 12.63% in 2014, as measured by the NCREIF Farmland index. The return was down from its 20.93% return posted in 2013, but in line with its long-term average of 12.89% over the last 20 years.
Permanent cropland (orchards, groves, vineyards, etc.) returned 21.12% in 2014, while annual cropland (used for row crops replanted annually) returned 6.3% in for the year.
"Performance was especially strong for permanent crops in the Pacific West, which were led by almond and pistachio properties," according to last week's news release.
Over the last five and 10 years, the index had annualized returns of 15.1% and 16.7%, respectively.
