The French farming minister warned these "predatory investments" prevented countries from feeding themselves. Al Jazeera reports.

Across the street from the conference, human rights and farmers' groups protested sporadically throughout the three days. Small farmers' groups put on street theatre, re-enacting scenes of land-grabbing by foreign companies, with thugs bearing sticks pretending to threaten the small land owners.

The UN and the World Bank are walking a tightrope in drawing up a code of conduct for farmland deals as they do not want to undermine investor confidence. Campaigners call such "win-win" codes "a nonsense".

And now the bad news. FAO has taken a U-turn in its clear position on the race by food-importing countries and private companies to buy land overseas for domestic food and agriculture needs.

Land grabbing by transnational capital must stop.

"Already we have received a lot of interest from the UAE to invest in Ukraine's agriculture sector, and we are offering all kinds of projects such as leasing of 100,000 hectares of land to the creation of animal farms with 3000 cows," Ukraine's agriculture minister said.

Jannat has a target of securing 100,000 to 215,000 hectares of land abroad, including $100m in African investments, says Mohammed Abdulla al-Rajhi, chairman of Jannat and deputy chairman of Tadco.

At the UN hunger summit in Rome wealthy food-importing nations are being accused of grabbing land from small farmers in developing countries and ignoring the plight of starving people.

The bad publicity farmland acquisitions generated is putting off buyers, especially short-term investors, UN food and farm agencies experts said at an international food security forum.

Saudi-based Almarai Co says it plans to take a 50 percent share of the dairy market in Egypt, the Arab world's most populous nation, by 2013, a report said.

Libya's Muammar Gaddafi called for an end to the purchase of African farmland by food-importing nations at a UN hunger summit on Monday, describing it as "new feudalism" which could spread to Latin America as well.

Ethiopia's agriculture ministry put an advertisement in its website for 180,625 hectares along the Omo River in southern Ethiopia.