Chinese investors buying land

Ontario Farmer | June 2012
Medium_quebec farms

By IAN CUMMING

Chinese investors, through a firm Monaxxion, have bought 40,000 acres of Canadian farmland and bush in 2011, and 18,000 acres in the first two months of 2012, says Pierre Bergeron from Brossard, Quebec.

Most of the purchases through Monaxxion have been in Quebec and Ontario noted Bergeron. Ontario farm land purchases thus far have been mainly in the Ottawa and Toronto areas, “but we’ll go anywhere,” he said, “They really want land.”

Prices paid very from the going area rates of prime farm land to what bush land is worth, said Bergeron. However just this year four ongoing dairy operations and two pig farms have been bought by the Chinese as well, he noted.

Quebec law does not allow foreign ownership of farm land, however immigrants are allowed to purchase and operate farms. A lot of times the initial immigrant buyers through Monaxxion, “are setting others up,” noted Bergeron.

Thus far this has included a livestock operation being turned back to its original owner to operate, or newly arrived Chinese immigrants buying the operations in quick flip with profits of $400,000, said Bergeron. “They know which ones coming in want farms.”

In a Feb. 20 farms financial meeting at Manotick, agriculture lawyer Donald Good told the crowd that he was working with Chinese investors seeking farmland. They were returning to Canada in a couple of weeks, said Good.

Farmer and Ontario Land-owner president Tom Black noted at the meeting how Chinese investors were now offering $9,000 to $14.000 an acre for farm land in his Carleton Place area, with some farmers selling and some not.

Ontario Conservative MP’s Dean Del Maestro and Pierre Lemieux have each confirmed to Ontario Farmer about ongoing negotiations between the government and Chinese officials looking to set up mega dairy operations to produce milk without quota, then process it in Canada with all the product going back to China.

However, neither they or any government officials will provide details.

The Chinese have already bought a milk powder plant at Toronto.
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