Wednesday, December 8, 2010

No problems...

"Senegal is in talks with Saudi Arabia to lease farmland to grow food of an area nearly four times the size of Manhattan, an official in Senegal involved in the deal told Reuters.

Like other wealthy Gulf states Saudi Arabia has been buying farmland in Asia and Africa to secure food supplies after inflation had nearly doubled the price of food in 2008.

“We are in talks with Saudi Arabia now and we are offering them 400,000 hectares of farmland to lease on long term basis in Senegal,” said the official, who declined to be named.

“Some of the land is already producing food and other parts are not and the farmers have no problems with these lease deals,” he added, declining to give the value of deal or details of its location.

Buying land in countries that can barely feed themselves and exporting produce from them has exposed investors to popular unrest and political disapproval in their target countries in the developing world."

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