Multinational eyes farmland

Large_nickxenophon
Senator Nick Xenophon introduced a private members bill on November 24 to tighten the laws on foreign ownership of farmland. AAP

Sunshine Coast Daily | 13th January 2011

Kathy Sundstrom

IS the Sunshine Coast at risk of losing the farm to foreign interests?

Already one wealthy multinational company has flagged its interest in the region’s farmland with the aim of securing it for future use as it was intended: farming.

Nexis Holdings, a publicly listed company with a global head office in Hong Kong, has a $500 million budget to snap up farmland between northern New South Wales and North Queensland.

In December Nexis finalised the sale of the 4060 acre Yalanga property near Kin Kin for a record sale price for rural land in Queensland of $25 million.

Earlier in the year the company bought a 500ha Sunshine Coast macadamia farm for $20 million.

The company’s founder and executive chairman, Walter Filler, born in Germany but a resident of Australia for more than 40 years, said he strongly believed in the value of farming.

“I believe food and water will become one of the most precious commodities in the next 10 years,” Mr Filler said.

Sales agent Mark Boulter, from Ken Guy Mooloolaba, said Nexis was on the lookout for more viable farmland in the region.

The international buy-up of farmland across Australia has sparked concern from politicians.

South Australian independent senator Nick Xenophon introduced a private members bill on November 24 to tighten the laws on foreign investment in farmland.

Member for Fisher Peter Slipper said this week the Foreign Acquisitions Amendment (Agricultural Land) Bill was yet to be considered for analysis and he would “consider carefully the outcome of any committee investigation if and when it occurs”.

However, he supported the principle of a “national register to monitor land sales and purchases by overseas buyers and also to monitor the ongoing uses of the land”.

Sunshine Coast cane farmer Garry Petersen said it was high time the government stopped allowing foreigners to buy up farms.

“People like the Chinese won’t have to invade us, they will end up owning the place anyway,” Mr Petersen said.

“There are a helluva lot of countries you couldn’t buy land in, but our government seems hell-bent on letting everyone buy our land.

“This forces the price of real estate up. It has made it difficult for existing farmers to buy their neighbour’s farm as they expect too much and it comes back to foreign nationals buying it back.”

Mr Petersen said the government’s chance of preserving cane land was “nearly too late”.

  • Sign the petition to stop Industria Chiquibul's violence against communities in Guatemala!
  • Who's involved?

    Whos Involved?


  • 13 May 2024 - Washington DC
    World Bank Land Conference 2024
  • Languages



    Special content



    Archives


    Latest posts