Farm value and farm transfer: perspectives from economics and sociology[Résultats du projet de recherche FARM_VALUE]

The value of a farm: a central point in the transfer process The aim of the FARM_VALUE research project was to shed light on transfers of farms, focusing in particular on the role of farm value in this process. From a global point of view, while the number of farms has continued to diminish over the years, the issue of farm transfer is inextricably linked to the renewal of the productive capacity of French agriculture. For farmers, the transfer of their farm is a stage of major importance in their lives. It is the measure of the success of a lifetime of work, and results in the perpetuation of what has been built. Contrary to what one might think, the value of a farm is not immediately available, nor given, for example, by its market price. This value must be constructed, and several approaches are possible, sometimes producing very different results. Moreover, this value incorporates not only economic aspects but also other components. It is therefore of utmost importance to understand the different valuation methods, particularly when they are used at the time of transfer.