The lure of cheap land and the promise of making big money are making local farmers and NRIs invest in African countries like Liberia and Ethiopia, whose economies were wrecked by the civil wars.

The company was granted a 220,000 ha concession in Liberia in 2009 and will begin planting oil palm on 10,000 hectares in April.

Signed on January 21, 2011

Locals in Liberia accuse company of illegally clearing their land and of poor labor and environmental practices.

Indian businessman also has major stakes in farmland investors Ruchi Soya, KS Oils and Equitorial Palm Oil.

Singapore-listed Golden Agri Resources said it was “actively evaluating” taking a share in a 220,000-hectare project being offered by the government of President Ellen Johnson-Sirleaf.

The UK-based EPO has almost 170,000 ha of land suitable for sustainable crude palm oil cultivation and its aim is to be a 100,000 ha producer with output totalling 250,000 tonnes per annum.

Liberia conference decries the negative impacts from the increasing amount of land being targeted for large scale monoculture plantation in Africa in recent years.

"Here’s what I’m sure of: these deals will make the rich richer and the poor poorer, creating clear winners who benefit while the losers are denied their livelihoods."

Indonesian global palm oil giant, Golden Agri-Veroleum will invest more than US$1.6 billion dollars on more than 240,000 hectares of oil palm to boost the country’s oil palm sector.

Sime Darby, which is expected to employ an estimated 22,000 Liberians over the next 10 years, will cultivate roughly 220,000 hectares of land in four counties including Gbarpolu, Bomi, Grand Cape Mount and Bong.

Golden VerOleum plans to acquire 200,00 hectares in south-eastern Liberia. The target areas are Grand Kru, Maryland, River Cess, River Gee and Sinoe counties. The export plans are based on a plantation system in which there are about 10 hectares for each worker.