Russia

Hedge funds and investment banks are swapping their Gucci for gumboots as they bet on rising food prices by buying farms.

President Lee Myung-bak said that one possible way to secure grain supplies from overseas would be to sign a long-term land lease. The President specifically pointed to the Russian Far East.

Japan has steadily prepared for food security by buying 12 million hectares of croplands around the world, from Southeast Asia and China to South America. By comparison, the amount of Korea’s overseas croplands is negligible.