Agricultural Land Grabs Continue

The purchase of huge stretches of agricultural land by public or private investors, often called “land grabs,” hit a peak in 2009. The purchases, while down from this peak, still draw attention. Most of the deals between 2009 and 2010 were in East Africa; potential farmlands in Asia and Latin America are also sought. Investors are diverse, but patterns are evident, suggests a report from Worldwatch Institute, based in the US. Emerging economies invest in their neighbors, exploiting cultural affiliations, and wealthy nations, short on their own free land, go plundering low-income countries. Food crises in low-income countries were responsible for generating the increase in land grabs in 2009, as investors sought profits from the rising prices of basic crops. Critics question the morality behind such speculative investment – for displacing local farmers and replacing them with factory farms that can lead to environmental degradation effects. Without enforceable regulations, investments and money will trump local interests. – YaleGlobal