G8 to urge guidelines on African farmland buy-ups
- AFP
- 08 July 2009
The best practice proposal was criticised by development charity ActionAid UK. "The G8 plan to simply start discussing the topic is insufficient."
The best practice proposal was criticised by development charity ActionAid UK. "The G8 plan to simply start discussing the topic is insufficient."
Lester Brown, the president of the Washington-based Earth Policy Institute, says even if the investor comes in wielding impressive, shiny new technology, it will be of little benefit to the small farm holder.
Video from The Global Report reporting that the G8 will address land grabbing through win-win solutions
We need non-binding principles, not regulation, to make land grabbing win-win, says Japan's Prime Minister before the G8 Summit
De Schutter said that instead of ceding millions of hectares to foreign investors, by sale or on long-term leases, the possibility of contract farming should be explored.
This would be the first time for an international set of guidelines of this kind to be formulated
Japan will spearhead a drive at the Group of Eight summit to prevent "farmland grabbing" in developing countries and encourage responsible investing in agriculture.
Japan is to propose introducing a set of principles to ensure smooth investment in agriculture in developing countries at a Group of Eight summit in Italy in July, a foreign ministry official said on Tuesday, in a move to limit 'land-grabbing'.
"Attention should be given to the leasing and purchase of agricultural land in developing countries, to ensure that local and traditional land use is respected."
Some nations, such as India, instituted tight export controls on staples like wheat and rice. Others, like South Korea and Saudi Arabia, have bought land overseas to help grow food for their populations.
We are seeing big international investors and speculators move away from financial products and into to food products and agricultural land in the South.
Farm ministers of the Group of Eight meeting in Italy this weekend aim to forge a strategy to secure food supplies and stabilize prices, as rich nations scramble for acreage abroad to feed their people.