The Pakistani government has finalised plans to offer ownership of agricultural lands to investors for farming to achieve self-sufficiency in agriculture produce, Federal Minister for Investment, Senator Waqar Ahmad Khan told Daily Times. “We are extremely enthusiastic in providing areas for farming with great incentives,” he added.
Agriculture Department denies a recent WA trade delegation visit to several Middle Eastern countries was to promote selling WA agricultural land for grain and livestock.
Mitsui & Co., Japan's second-largest trading company, may increase investment in farming overseas to secure food supplies as competition from China, the biggest grain consumer, intensifies. The company is seeking new targets after taking a 39.35 percent stake in Multigrain AG, which produces soybeans in Brazil, the world's second-largest grower.
Agriculture Minister Terry Redman says Western Australia should embrace moves by Arab interests in the Middle East to buy prime Wheatbelt farmland to secure their future food supplies. Two groups from the Middle East are due to visit the State early next year as they consider investments of up to $1 billion in cropping, sheep and dairy production in WA.
Just how much security the new land investments may provide countries and corporations remains uncertain, experts say. Future governments in countries now renting or selling land may well fail to abide by deals their predecessors cut, particularly if they face food or land shortages at home.
The Ethiopian government’s ambitious target of harvesting 28 million tonnes of cereals in the first three quarters of the 2007/2008 budget year has failed. Authorities seem determined to change this situation by leasing huge chunks of land to other sovereign states for mechanised farming.
"They're not talking about $2 or $3 million, they're talking about $20 million to up to $1 billion of investment in big projects," Peter Metcalfe, the director of grain industry development for Western Australia, said in an interview.
Middle Eastern countries flush with oil funds want to invest up to $1bn in Australian farmland as they extend a drive for food security to the world’s second-largest wheat exporter, a grains official said yesterday.
Stephen Marks looks at the latest rush by China and countries in the middle east to sign lease agreements in poor countries for agricultural production, and what this trend means in terms of food security and access to arable land for local populations.
Saudi-based investment firm Binladin Group is mulling at investing on agriculture projects here worth an estimated US$4.3 billion, which will be spent within the course of 15 years, says an official.
Deputy for agriculture and fisheries to the coordinating minister for economic affairs Bayu Krisnamurthi earlier said that the government had given a priority to a regulation pertaining to the development of food estates to support Indonesia`s food security. According to him, the economic affairs coordinating ministry was drafting a regulation, 90 percent of which had been completed.
