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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: Les H	7/5/2009 6:33:45 PM
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Fears for the World's Poor Countries as the Rich Grab Land to Grow Food • UN sounds warning after 30m hectares bought up • G8 leaders to discuss 'neo-colonialism' by John Vidal The acquisition of farmland from the world's poor by rich countries and international corporations is accelerating at an alarming rate, with an area half the size of Europe's farmland targeted in the last six months, reports from UN officials and agriculture experts say. New reports from the UN and analysts in India, Washington and London estimate that at least 30m hectares is being acquired to grow food for countries such as China and the Gulf states who cannot produce enough for their populations. According to the UN, the trend is accelerating and could severely impair the ability of poor countries to feed themselves. Today it emerged that world leaders are to discuss what is being described as "land grabbing" or "neo-colonialism" at the G8 meeting next week. A spokesman for Japan's ministry of foreign affairs confirmed that it would raise the issue: "We feel there should be a code of conduct for investment in farmland that will be a win-win situation for both producing and consuming countries," he said. commondreams.org

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