New on Gulf's shopping list: Foreigners' farmland (IHT)

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New on Gulf's shopping list: Foreigners' farmland
The Associated Press
Monday, November 17, 2008
NAHEL, United Arab Emirates: In the dunes around this sun-scorched desert village, where camels still plod along dusty roads an hour south of Dubai's skyscrapers, farmers are making the wasteland bloom.
Row upon row of bell peppers grow plump in a temperature-controlled greenhouse. Lilies and roses bud nearby, and strawberries are on their way, all thanks to sophisticated water-saving irrigation.
Yet even high-tech establishments like the Mirak Agricultural Services farms here and elsewhere in this riverless country will never feed the region's rapidly growing population. It is that realization that is persuading wealthy Gulf Arabs to look far beyond their shores for more fertile acreage - tens of thousands of hectares, in some cases.
There are simply too many mouths to feed and not enough water. Lush urban landscaping and ambitious agricultural projects here and in Saudi Arabia, which once spent so much on farm subsidies that it exported surplus wheat, are quickly draining aquifers, including some that are millennia old and cannot be refilled.
That stark reality, and rising food prices, is sending the region's leaders scrambling to lock up even more long-term food supplies abroad. And where once the region was content to spend its petrodollars on food sold on the open market, Gulf nations now are quietly scouring the globe for rich farmland to rent or buy outright.
The prime ministers of Qatar and Kuwait traveled separately to Cambodia this year to discuss securing paddy land for rice-growing. Sheik Khalifa bin Zayed Al Nahyan, president of the United Arab Emirates, visited Kazakhstan in central Asia, where agricultural investments were on the agenda.
Dubai World, a sprawling conglomerate controlled by that emirate's government, last month said it was creating a new subsidiary targeting global investments in a wide range of commodities, including food.
Plans are also accelerating in the private sector.
The Saudi Binladin Group, for example, is considering investing more than $4 billion to grow food in Indonesia, said Salim Segaf al-Jufri, the Indonesian ambassador to Saudi Arabia. Under the proposed project, the company would produce basmati rice in Sulawesi, Papua and western Java.
Most such talks are continuing in private. Of those companies that could be reached for comment, none made officials available to discuss their investments in detail. That may be because many of the deals are being hatched in volatile countries, such as Pakistan and Sudan, that have serious domestic food concerns of their own. The idea of shipping off homegrown crops to feed rich foreigners could stir dissent.
"These are countries that come with a lot of political baggage," said Eckart Woertz, program manager for economics at the Gulf Research Center, which estimates the Gulf's conventional water resources will be gone within three decades. "People riot when they don't get food."
Experts say the agriculture investments could be a win-win situation. The Gulf gains food security, while poorer developing countries benefit from added jobs and improved technology.
But there are concerns, too.
The head of the UN Food and Agriculture Organization, Jacques Diouf, has warned that foreign land acquisition and long-term leasing schemes, if done poorly, risk "creating a neocolonial pact" and "unacceptable work conditions for agricultural workers."
Even so, some countries are seeking out investment.
Pakistan, already a key source of labor for the Gulf, has been among the most active. This spring, Islamabad helped organize a show in Dubai aimed at increasing investment in the country's agricultural and dairy industries.
Huma Fakhar, managing partner at MAP Services Group, a market research and trade consultant which sponsored the event, said Pakistan was a logical choice for Gulf investment.
Fakhar said an investor from Abu Dhabi, whom she declined to name, last year bought about 16,000 hectares, or 40,000 acres, of farmland in the Pakistani province of Baluchistan. Two UAE firms, Emirates Investments Group and Abraaj Capital, have also expressed interest in investing directly in Pakistani agriculture, she said.
http://www.iht.com/articles/2008/11/17/asia/gulf.php



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Pakistan considers [farm] asset sales to bolster economy (IHT)

NEW DELHI: Pakistan plans to sell valuable energy assets, beginning with a major gas field, as it tries to reap billions of dollars from deals with investors in industries like banking and farming. The list of state assets for sale may not necessarily be followed by deals, analysts warned.

"Talk of investing huge sums of money doesn't always materialize, because people are put off by the political machinations" in Pakistan, Price said.

Pakistan's "economic curse" is that the ruling elite — civil servants, politicians and the military — have worked in their own interest, not that of the wider population, limiting how much capital the country can raise, he said.

One possible source of new investment is the Middle East.

"There is a cultural and long-term affinity between the two regions," said Youssef Nasr, the chief executive of HSBC in the Middle East. Saudi Arabia and Abu Dhabi, in particular, have been strong supporters of Pakistan.

Investors from the Middle East have already bought stakes in telecommunications, banking and industrial companies in Pakistan and have been pleased with the results, he said.

One area of cooperation between Pakistan and the Middle East may be agriculture. The arid climate of the Middle East, coupled with rising food prices, has ignited fears about food security. Pakistan, meanwhile, has swaths of arable land that is lying fallow. Government officials on both sides are exploring links that could lead to joint farming ventures, Nasr said.

"It's not going to be a huge industry, by international standards," he predicted, but it could be large enough to make a difference to Pakistan's economy.



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A land rush in rural Russia (IHT)

PODLESNY, Russia: The fields around this little farming enclave are among the most fertile on earth. But like tens of million of acres of land in this country, after the collapse of the Soviet Union, they literally went to seed.
Now that may be changing. A decade after capitalism transformed Russian industry, an agricultural revolution is stirring in the countryside, shaking up village life and sweeping aside the collective farms that resisted earlier reform efforts and remain the dominant form of agriculture.
The transformation is being driven by soaring global food prices (the price of wheat alone rose 77 percent last year) and a new change allowing foreigners to own agricultural land. Together, they have created a land rush in rural Russia.
"Where else do you have such an abundance of land?" Samir Suleymanov, the World Bank's director for Russia, asked during an interview.
As a result, the business of buying and overhauling collective farms is suddenly and improbably very profitable, attracting hedge fund managers, Russian oligarchs, Swedish portfolio investors and even a descendant of White Russian émigré nobility.
http://www.iht.com/articles/2008/08/31/business/food.php







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New Zealand gives Maori tribes forest in largest-ever settlement

WELLINGTON: Seven indigenous Maori tribes on Wednesday signed New Zealand's largest-ever settlement over grievances arising from the 19th-century seizure of land, forests and fisheries during European settlement of the country.
The 420 million New Zealand dollar, or $317 million, Treelords agreement will transfer ownership of 435,000 acres, or 176,000 hectares, of plantation forest and forest rents from the central government to the central North Island tribes.
Hundreds of Maori, some wearing traditional feather cloaks, thronged the nation's Parliament in Wellington to witness the signing of the agreement. Chants, challenges and conch shell notes rang out during the ceremony; some wiped tears from their eyes during the speeches and signing.
The seven tribes include more than 100,000 people.
"It's a historic journey we are on," Prime Minister Helen Clark told the crowd. "We came into politics to address injustice and seek reconciliation. Thank you for walking that road with us on this historic day."
http://www.iht.com/articles/2008/06/25/asia/maori.php

In modern China, farmers cash in on their land

HAINING, China: Tales of protests by angry peasants whose land has been seized for a pittance by unscrupulous officials are commonplace in China.
But even as concern grows about the disappearance of arable land to feed 1.3 billion people, less noticed is the eagerness of other farmers, often in richer parts of China, to cash in their land and say goodbye to back-breaking toil in the fields.
http://www.iht.com/articles/2008/06/17/business/yuan.php







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