According to Michael Yabsley of the Australian Gulf Council, agricultural land is among the top asset classes in Australia being considered by Gulf investors who have placed food security at the top of their priorities.
Glencore has an 8.7% share of the "addressable" global grain trade and farming operations covering 270,000ha in Argentina, Australia, Kazakhstan, Russia and the Ukraine.
“We are looking at rice farmlands as it is the main food crop,” said Renatto Barbieri, Galtere's portfolio manager. “Have you heard of anyone dying because of not eating sugar or corn or soybeans?”
Rural MPs, especially those from NSW and Queensland, have been fielding increasing complaints from constituents in recent months about the level of foreign ownership of Australian farms and agricultural businesses.
The UAE plans to hold further talks with officials from Australia with a view to invest in farmland as part of its plan to tackle food security.
China's Cofco Corporation has acquired an equity stake in Australian sugar producer Tully Sugar and is said to be pursuing a take-over.
Australia is "asleep at the wheel" when it comes to foreign companies buying important agricultural land and greater scrutiny is needed, farmers say.
Wilmar's take-over of Sucrogen gave the company a significant amount of cane land that it increased with the purchase of additional farms to guarantee cane supply, outbidding local farmers for land.
Prime minister's adviser on science and innovation wants Australian companies to consider buying land in Mozambique to counterbalance foreign purchases of farming land in Australia and shore up Australia's food supply.
The Australian Parliament has moved to quell some of the anxieties surrounding a perceived foreign buy-up of local land, last week passing a motion regarding foreign ownership of agricultural land and agribusiness.
Foreign ownership of Australian land and agribusiness will soon be monitored.
World food security fears may be driving the foreign rush to buy Australian farmland and agribusinesses, says Nationals' leader, Warren Truss.
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Italy supports sustainable agriculture projects in Ghana
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