3 Picks: Foreigner Farmland Holdings, China Buys Ukraine Farmland, Bananas
Photo by Luxt Design @FlickrCC
Below, are today’s three chosen agricultural-related news picks.
1) USDA Releases Annual Report of Foreign Investors of Ag Land: “The data gathered through Dec. 31, 2011, indicate that foreign investors hold an interest in 25,715,588 acres of U.S. agricultural land, which is approximately 2 percent of all privately held U.S. agricultural land, and 1 percent of all land in the U.S. The total foreign-held U.S. agricultural acres as of the last report, dated Dec. 31, 2010, were 24,224,807, resulting in an increase of 1,490,781 acres.”
2) China Buys Ukraine Farmland: “As overseas investments go, this one is pretty huge. China is buying up to 3 million hectares of farmland in Ukraine, an area the size of Belgium. Two state-owned firms will take over the land in the eastern Dniepropetrovsk region to grow crops and raise pigs for consumption back home.”
3) Going Bananas: Bananas have been the best-selling item at Walmart for several years. And, a company in China is switching from oranges to bananas, as less land is needed and there is a faster turn-around by banana trees. “Asian Citrus, which operates 100 square kilometres of plantations, said that it was replacing some its 4.2m orange trees with banana palms, and moving into grapefruit and “possible other fruits”, to reduce its reliance on a single crop. The move follows a year in which orange output from one of its three plantations, Hepu, tumbled 23%, hurt by a replanting programme and an “extensive infection” of citrus canker, which causes premature fruit drop.”
This news post was written and compiled by K. McDonald.