Private investment firms are betting on hunger, and their reasoning, unfortunately, is sound.
Penan community standing up to plantation companies in Sarawak, Malaysia (Photo: AFP).
Sifca s'associe avec Olam et Wilmar dans les oléagineux. Sifca s'associe avec Olam et Wilmar dans les oléagineux. )Camille Millerand pour J.A.)
Annette and Peter Pijpers, who operate and partly own Genesis Farms. The company is 70% owned by the Dutch company Drie Wilgen Development (DWD) B.V, through a €1.9 million investment, for which DWD has sought a MIGA guarantee of up to $2.8 million for a period of up to 15 years against the risks of transfer restriction, expropriation, and war and civil disturbance. According to documents on the MIGA website, Genesis Farms intends to establish three mechanized 250-hectare farms in the Port Loko District, Sierra Leone.
The Dakatcha Woodlands, Malindi District, Coast Province, Kenya. Henzanani Merakini, 26, her name means 'love eachother' in the local language. She has two young children. Her house is roughly 100m (0.062 miles) from the current Jatropha Jatropha pilot plantation, and she feels under the constant threat of eviction. (Courtesy of ActionAid)
The Dakatcha Woodlands, Kenya, spans 79,000 acres of land and is home to over 20,000 tribal people, most of whom make their living from small-scale farming. They now face eviction to make way for a biofuels plantation proposed by Italian owned Kenya Jatropha Energy Ltd. (Piers Benatar/Panos Pictures/ActionAid)
The Turkana people live around Lake Turkana in Kenya and Ethiopia. They will be seriously affected by the Gibe lll Dam. (Federica Miglio/Survival )
Benue State Governor, Gabriel Suswam, wants more foreign investment and says his state has 364,000 hectares of land available to for irrigation farming.
John Wilson, TIAA-Cref's director of corporate governance, says the independent farmland investment principles are more investor focused. “We started by looking at those World Bank principles. They were more development oriented and not really an institutional investor’s. It’s a parallel initiative we have.”
"The farmland PRI are there to make us less concerned," says Ulrik Weuder, head of inflation-protected securities at ATP, to the Financial Times