Foreign investors land buy-up a big worry

Aussie dollar needs devaluing a little

Foreign investors land buy-up a big worry

It seems the acquisition of Australian agricultural land and farms by foreign investors continues unabated,with reports that a Chinese company has paid more than $29 million for prime agricultural land in the south west of Western Australia, earlier this month.

The Heilongjiang Feng group purchased the 23,336-hectare property and is considered the tip of the iceberg as they reportedly are close to finalising the purchase of at least three other farms in WA from Albany to China in competition to the existing grain handling company deregulations legislation by the Gillard government.

These purchases follow on from the purchase of Australia's biggest cotton farm, the 96,000ha Cubbie Station, by a consortium led by the Chinese textile company Shandong RuYi and in WA.

Chinese investors reportedly spent $15 million on an olive oil company.

Also in WA, the Lactanz dairies, the biggest single producer of milk in WA on 2344ha, is for sale and reportedly the agents expect strong interest from Malaysian, Singaporean and Chinese buyers.

If all of the foreign owners and investors, who own our agricultural land, transport their produce to their home countries, where is our food security the government states that we will benefit from, by foreign ownership and investment?

"I love a suburnt country a land of sweeping plains of rugged mountain ranges of droughts and flooding rains." (D MacKellar).

Keith Murdoch