Monday, November 15, 2010

The battle for food

FOREIGN investors have snapped up tens of billions of dollars of Australia's prime agricultural land and rural enterprises - and no one is keeping watch.
Daily Telegraph investigation has revealed that a swag of government-backed entrepreneurs - mainly from China, the Middle East and Singapore - are sizing up potential investments as global powers move to secure food supplies.
Some of Australia's best known farm brands - including Golden Circle, SPC, Dairy Farmers, CSR Sugar and AWB - have already fallen into foreign hands.
More than $9 billion of prized agricultural assets have been sold to offshore interests in the past two years alone.
And there is more to come - although no one can accurately say how much is for sale. A Chinese delegation, led by a senior provincial governor, will arrive early next month hoping to acquire farms and agricultural assets.

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