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Foreign investors buying up U.S. farms

Author: Kristy

Investors acquiring America’s usable land at astronomical prices


“Farmland has now become the latest scarce ‘hot’ commodity for all sorts of speculators who have absolutely no interest in agriculture,” said John Peck, executive director of Wisconsin-based Family Farm Defenders. (Michael Sears)

 

Steve Holt, Takepart.com | Feb. 12, 2014

The news from the Department of Agriculture this week wasn’t good. The USDA’s dour projections suggest that, after a record five-year boom in crop prices, that bubble is set to burst, potentially decreasing annual farm profits by 27 percent nationally.
While price fluctuations are nothing new in agriculture—there is a reason why farm subsidies exist, after all—this latest boom-and-soon-to-bust cycle in the commodity market could have a lasting impact on American agriculture.

That’s because wealthy international investors and corporations are buying up much of America’s usable land at astronomical prices per acre, turning the farmers into their tenants or repurposing the land altogether.

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