Last fall I mentioned a deal between Korean conglomerate Daewoo and the gov’t of Madascar, for the former to get half a Belgium’s worth of farmland at basically no charge. Turns out it was more controversial than I thought, caused a revolution, and the new government has revoked the deal. But, as the linked article explains, similar deals are proceeding in several other countries.
Archive for the ‘agriculture’ Category
The Census Bureau has issued the 2007 Census of Agriculture reports for Illinois, and, no surprise, most farmland is not owned by the farmer who works it. 62% of farmland in the state is tenant-farmed, up from 58% in 2002. (table 9, pdf) . Owner-operators are the majority of farmers, but have much smaller farms, 107 acres and $47,726 gross revenue, compared to part-tenants (784 acres and $407,013) and farmers who rent all their land (439 acres and $254,814) (table 65, pdf)
Nationally, however, more than half of farmland is operator-owned. And these owners paid more than $7 billion in interest on loans secured by real estate.