Brazil’s soybean production has reached record levels this season which could make the country the world’s leading producer but port congestion and lack of storage capacity are impeding exports of soybean as producers fear losing international markets.
Prices for farmland in Brazil surged by an average 14% a year to nearly quadruple over the past decade, well outpacing inflation and nearly matching gains made by São Paulo's blue-chip Ibovespa stock index, a new study shows.
Saudi Arabia's largest dairy company announced it was buying Argentine farm operator Fondomonte for 83 million dollars to secure access to a supply of animal feed. The acquisition will give Riyadh-based Almarai Co. control of roughly 30,000 acres of farmland just ahead of tough new limits to be imposed by Argentina's government on foreign ownership of productive land.
The head of the Argentine Rural Society, Hugo Biolcati carried out a harsh speech against the administration of President Cristina Fernandez saying it was time “to stop punishing farmlands and Argentina”.
Australian lawmakers are demanding a review of foreign investment rules to stop foreign mining companies, including those from China, buying up prime farmland.
Estancia Punta del Agua, probably the largest ever block of freehold land to come onto the market in north Argentina is being sold by London based agent Savills. The estate in San Juan province in the north west of the country is currently owned by a family company and is described as having enormous potential for agricultural or eco power possibilities.
The Uruguayan government is trying to decide how to implement a controversial new tax on land holdings involving approximately 60 million dollars per annum and which has exposed deep differences in the ruling coalition, is rejected by farmers and feared by investors.
Brazilian president Dilma Rousseff claimed that land reform was needed to eradicate poverty, avoid overcrowding in urban areas and as a matter of justice for the long delayed distribution of land.“
The average price for a hectare of farmland in Uruguay during 2010 increased 13% and reached 2.650 US dollars. The average farmland hectare in 2009 was 2.239 USD.
The number of farmland transactions and the price per hectare were up in Uruguay during 2010 according to a release from Uruguay’s Agriculture and Livestock Ministry Statistics Department, DIEA.