Australia's plans to let China develop farmlands draws ire over foreign land-ownership
04 Jun 2012
China is considering billions of dollars in investment to develop farming land in sprawling northern Australia in a joint effort to increase food security for the world's most populous nation.
A study into the proposal - where Chinese firms would directly invest in northern farms focused mainly on beef, sheep, sugar and dairy, would be published by the two countries within weeks, according to the Australian Financial Review on Thursday.
China, with 1.3 billion citizens, has till now focused on opening up farmland in South America and Africa to meet the demands of the growing Chinese middle class.
It is now seeking new sources, including in Australia, to meet its increasing demand for beef, sheep, sugar and dairy, the Sydney Morning Herald, reported.
Over a quarter of the meat produced globally, is now eaten in China, and at 71 million tonnes currently, China's annual consumption of meat is over twice that of the US. In 1978, China's annual consumption stood at 8 MT.
In addition to China, Qatar's Hassad Food and Singapore's Olam International are among companies that have acquired Australian farmland to increase their own national food security, AFP reported.
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