Farm in Goias, Brazil

Brazil Proposes Opening Farmland for Foreign Ownership

DanIndustry News Release

ownership
The President of Brazil plans to propose legislation to lift restrictions on foreign ownership of agricultural land in the nation in an effort to pull its economy out a two-year recession. The proposal would allow foreign investors to buy agricultural land in Brazil, on the condition that 10 percent of any purchase is destined to land reform to benefit landless farmers and peasants, according to Reuters. The proposal also includes allowing 100 percent foreign ownership of local airlines. However, a similar measure was vetoed just last year. Plans to open up land to foreign purchases will likely draw plenty of investors in Brazil’s expanding agribusiness industry that is seeking new partners. Brazil restricted the sale of land to foreign investors in 2010 due to concerns that countries such as China could take control of large segments of arable land in the midst of a super commodity boom.

From the National Association of Farm Broadcasting news service.

Image: Farm in Goias, Brazil