Saudi's Agroinvest to raise $533m for farm investments
- Reuters
- 12 April 2010
But company says it does not want to tarnish Saudi Arabia's image by buying farmlands abroad
But company says it does not want to tarnish Saudi Arabia's image by buying farmlands abroad
Macquarie Agricultural Funds Management has started up the Macquarie Crop Fund to "acquire or lease grain and oilseed properties located in geographically diverse regions of Australia and Brazil".
Investors are growing more bullish on U.S. farmland as softness in some sectors spurs increased competition for buying quality acres. Capital flow is increasing from overseas, in particular from Europe, Asia and the Middle East.
Qatar-based Hassad Food has initiated its investment in Australian agriculture with the purchase of the prized Kaladbro Estate in far western Victoria.
Saudi Arabia, along with Abu Dhabi and Kuwait, want to buy more than $1 billion worth of Aussie farmland in a 21st century land grab.
Human rights workers said risks to the rural poor over such deals are significant because they are regularly evicted to make way for foreign investors.
Swedish Count Carl Gustav Wachmeister bought 3,310 ha in Victoria State, Australia
Peter Costello, the former treasurer of Australia, revealed Wednesday he was working with an investment fund that planned to inject US$600 million into Cambodia’s agricultural sector. The projects will cover a vast area, about 100,000 hectares.
Some of the world's biggest sugar players, including Brazil's Cosan, New York-listed Bunge and privately held US multinational Cargill, might join China in the race for CSR's sugar division
Glencore's agricultural interests include 300,000 hectares of land in Australia, Kazakhstan, Paraguay, Russia and Ukraine.
Hassad Food has launched a large project for producing livestock in Australia with a capacity of up to 70,000 Syrian head of sheep in its first year, and then up to 150,000 head of sheep in three years. The company will also purchase farmlands for the production of grains especially wheat.
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