Rich countries grab poor countries' land

"The acquisition of farmland from the world's poor by rich countries and international corporations is accelerating at an alarming rate", the July 3 British Guardian said.

A new United Nations report estimated about 30 million hectares was being bought in some of the poorest countries for producing food to be sent back to the wealthier nations.

The Guardian said: "Some of the world's largest food, financial and car companies have invested in land. Alpcot Agro of Sweden bought 120,000ha in Russia, South Korea's Hyundai has paid [US]$6.5m for a majority stake in Khorol Zerno, which owns 10,000ha in Eastern Siberia, while Morgan Stanley has bought 40,000ha in Ukraine.

"Last year South Korea's Daewoo signed a 99-year lease for 1.3m hectares of agricultural land in Madagascar."

From GLW issue 802