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Arabica Robusta

What's the new global source for fresh, shiny produce? Famine-ridden Ethiopia - 0 views

  • Every day, a workforce of 1,000 locals pick, pack and load hundreds of tons of fresh produce onto waiting trucks, including 30 tons of tomatoes alone. After reaching the capital, Addis Ababa, the produce is flown to a handful of Middle Eastern cities, entirely bypassing Ethiopia, one of the hungriest places on the planet. The trip from vine to store shelf takes less than 24 hours. It’s the latest project by Saudi oil and mining billionaire, Sheikh Mohammed Al Amoudi. And it may be the future of farming.
  • The controversial trend has been dubbed “outsourcing’s third wave”—following manufacturing and information technology (IT) in the ’80s and ’90s. The high cost of installing irrigation systems, and importing fertilizers, combines and tractors is no deterrent. Defenders of the new projects say they’re bringing desperately needed new technologies, seeds and investment to Africa. But opponents see the trend as a “land grab” that is forcing poor farmers off their land, and benefiting only the governments inking the deals.
  • The new scramble for Africa was triggered by a convergence of events: surging demand for biofuels, rising consumption patterns in China and India and the 2008 global food crisis, when the price of corn and wheat tripled, almost overnight. Responding to sudden hyperinflation, rioting and panic buying, at least 30 countries, including Argentina, Vietnam, Brazil, Cambodia and India, banned or sharply reduced food exports. In short order, Japan and South Korea, who import 70 per cent of their grains, joined a parade of countries turning to Africa to lock in means of production beyond their borders.
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  • When it emerged that Daewoo, the South Korean giant, had signed a 99-year lease granting it close to half of Madagascar’s arable land, protests broke out in Antananarivo, the country’s capital, eventually sinking both the deal, and the president.
  • as Heilberg told the German magazine Der Spiegel after closing the deal in Darfur, “When food becomes scarce, the investor needs a weak state that does not force him to abide by any rules.” Sudan, a dictatorship ranked among the five most corrupt countries on the planet, certainly qualifies. Heilberg’s deal was approved by the deputy commander of Sudan’s People’s Liberation Army (SPLA), the official army of semi-autonomous southern Sudan. “This is Africa,” he recently told Rolling Stone. “The whole place is like one big mafia. I’m like a mafia head. That’s the way it works.”
  • Some African intellectuals bridle at Western criticism of the play on Africa. “They’re here because we want them here,” says Teshome Gabre-Mariam, one of Ethiopia’s top lawyers. “We can’t ignore the development potential of this venture. We have everything to gain, nothing to lose.”
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    Every day, a workforce of 1,000 locals pick, pack and load hundreds of tons of fresh produce onto waiting trucks, including 30 tons of tomatoes alone. After reaching the capital, Addis Ababa, the produce is flown to a handful of Middle Eastern cities, entirely bypassing Ethiopia, one of the hungriest places on the planet. The trip from vine to store shelf takes less than 24 hours. It's the latest project by Saudi oil and mining billionaire, Sheikh Mohammed Al Amoudi. And it may be the future of farming.
Arabica Robusta

Pambazuka - A new Philanthro-Capitalist Alliance in Africa? - 0 views

  • Elegantly simple in its proposal and presentation, AGRA is the global face of a renewed international effort to revive Africa’s sagging agricultural research institutions and introduce new Green Revolution products across the sub-Sahara. The complex array of institutional and financial interests lining up behind Gates and Rockefeller include multilateral and bilateral aid organizations, national and international research institutes, and the handful of powerful multinational seed, chemical, and fertilizer monopolies upon which the entire financial future of the new Green Revolution ultimately rests.
  • That same week in Davos, the soon-to-retire president of Microsoft put his money where his mouth was by giving another $306 million to AGRA. That’s a lot of recognition, by anyone’s standards. Clearly, the “halo effect” created by the Bill and Melinda Gates Foundations’ altruism will benefit everyone associated with AGRA—from the CGIAR to Monsanto, DuPont and Syngenta.
  • as a creative capitalist, what—or for whom—is AGRA’s market-based reward? Recognition for Microsoft? Undeniable, but not significant or necessary for a company who already has all the recognition it wants. Gates’ financial interests in genetic engineering? These investments pale behind AGRA itself. The answer is; there is no market-based reward. Rather, the prize is political. AGRA, backed by Gates’ enormous philanthropic power, bolstered by the best world-renown diplomats and CEOs money can buy, and driven by the sheer financial and institutional momentum of the industrial players within the Green Revolution, is a political machine of immense proportions. AGRA allows the Gates foundation unprecedented influence not only in setting the national food and agricultural policies of many African governments, but in the agenda-setting of continental agreements (like NEPAD), multilateral development institutions (e.g. FAO), the strategies of agricultural research centers (e.g. WARDA), and the political economic re-structuring of Africa’s food systems in general. The Alliance for a Green Revolution for Africa is the Gates’ Foundations bold foray into big philanthropy’s latest incarnation: philanthro-capitalism.
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  • A logical extension of current of neo-liberal hegemony, philanthro-capitalism sees unregulated markets not only as engines for creating wealth, but as the ultimate drivers of social change. In this view, governments are too bureaucratic and corrupt, and social movements too unruly and inefficient. Only the market can save us from… well, the market.
Arabica Robusta

Manufacturing a Food Crisis - 0 views

  • an intriguing question escaped many observers: how on earth did Mexicans, who live in the land where corn was domesticated, become dependent on US imports in the first place?
  • The Mexican food crisis cannot be fully understood without taking into account the fact that in the years preceding the tortilla crisis, the homeland of corn had been converted to a corn-importing economy by "free market" policies promoted by the International Monetary Fund (IMF), the World Bank and Washington. The process began with the early 1980s debt crisis. One of the two largest developing-country debtors, Mexico was forced to beg for money from the Bank and IMF to service its debt to international commercial banks. The quid pro quo for a multibillion-dollar bailout was what a member of the World Bank executive board described as "unprecedented thoroughgoing interventionism" designed to eliminate high tariffs, state regulations and government support institutions, which neoliberal doctrine identified as barriers to economic efficiency. Interest payments rose from 19 percent of total government expenditures in 1982 to 57 percent in 1988, while capital expenditures dropped from an already low 19.3 percent to 4.4 percent. The contraction of government spending translated into the dismantling of state credit, government-subsidized agricultural inputs, price supports, state marketing boards and extension services. Unilateral liberalization of agricultural trade pushed by the IMF and World Bank also contributed to the destabilization of peasant producers. This blow to peasant agriculture was followed by an even larger one in 1994, when the North American Free Trade Agreement went into effect. Although NAFTA had a fifteen-year phaseout of tariff protection for agricultural products, including corn, highly subsidized US corn quickly flooded in, reducing prices by half and plunging the corn sector into chronic crisis. Largely as a result of this agreement, Mexico's status as a net food importer has now been firmly established.
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    an intriguing question escaped many observers: how on earth did Mexicans, who live in the land where corn was domesticated, become dependent on US imports in the first place? * Related * Also By * Haiti on the 'Death Plan' Subscribe Globalization Reed Lindsay: Protesters decry high food prices--and the savage cost of "free trade" agreements. * Manufacturing a Food Crisis Agriculture Walden Bello: How "free trade" is destroying Third World agriculture--and who's fighting back. * The World Food Crisis Globalization John Nichols: We must rein in the global food giants who reap profits at the expense of the planet and the poor. * Democratizing Capital Globalization Sherle R. Schwenninger: New Deal progressives believed the economy should exist to serve society, not the other way around. * Milk Wars Agriculture David E. Gumpert: As struggling dairy farmers seek profits by responding to rising consumer demand for raw milk, regulators are taking a hard line. * Banana Kings Agriculture Emily Biuso: The history of banana cultivation is rife with labor and environmental abuse, corporate skulduggery and genetic experiments gone awry. * The Big Yam China John Feffer: Chinese hearts, minds and pocketbooks get a lot of attention from the Eastern and Western consumer markets. » More * Manufacturing a Food Crisis Agriculture Walden Bello: How "free trade" is destroying Third World agriculture--and who's fighting back. * Microcredit, Macro Issues Peace Activism Walden Bello: The Swedish Academy bestowed this year's Nobel Peace Prize to Muhammad Yunus, the father of microcredit. It's easy to believe Yunus's low-interest loans to the poor are a silver bullet against global economic injustice. But it's not that simple. * Letter From the Philippines Su
Arabica Robusta

Multinationals make billions in profit out of growing global food crisis - Green Living... - 0 views

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    Cargill says that its results "reflect the cumulative effect of having invested more than $18bn in fixed and working capital over the past seven years to expand our physical facilities, service capabilities, and knowledge around the world". The revelations are bound to increase outrage over multinational companies following last week's disclosure that Shell and BP between them recorded profits of £14bn in the first three months of the year - or £3m an hour - on the back of rising oil prices. Shell promptly attracted even greater condemnation by announcing that it was pulling out of plans to build the world's biggest wind farm off the Kent coast. World leaders are to meet next month at a special summit on the food crisis, and it will be high on the agenda of the G8 summit of the world's richest countries in Hokkaido, Japan, in July.
Arabica Robusta

Pambazuka - Land grabs: Africa's new 'resource curse'? - 0 views

  • In Madagascar, a 99-year lease on 3.2 million acres of land – 50 per cent of Madagascar’s arable land, granted to multinational Daewoo ‘ensuring food security’ for South Korea, lead to a coup. ‘In the constitution, it is stipulated that Madagascar’s land is neither for sale nor for rent, so the agreement with Daewoo is cancelled,’ said current president Andry Rajoelina, a baby-faced former DJ, backed by the army – and allegedly, the majority of Malagasys, 70 per cent of whom depend on farmland for income. ‘One of the biggest problems for farmers in Madagascar is land ownership, and we think it’s unfair for the government to be selling or leasing land to foreigners when local farmers do not have enough land,’ an official from Madagascar’s Farmer’s Confederation revealed to Reuters.
  • The mentality of ‘grabbers’ could not be more different. ‘We are not farmers…’ stated an official from SLC Agricola, Brazil’s largest ‘farm’ corporation. ‘The same way you have shoemakers and computer manufacturers, we produce agricultural commodities.’
  • But with Africa losing an estimated US$148 billion in development finance each year, 60 per cent as a result of multinational mispricing, in addition to the direct servicing of odious debts – (amounting to a global figure of US$560 billion per annum of an outstanding US$2.9 trillion), little or no rents derived from the liquidation of exhaustible resources is redistributed in intangible capital. This is precisely because across Africa citizens are not required to finance the state budget – as occurs in high-income countries through intangible capital – they lack the political representation necessary to influence policies and usurped power structures.
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  • The terms differ from country to country, with the bulk of Ghana’s leased land allocated for export, in contrast to Ethiopia’s mixed status, but the issue remains one of control and exploitation, whether it is over local food monopolies or exported crops.
  • over 100 known specialised land funds and investments firms have embarked on ‘private sector’ land grabs, including well-known entities such as Morgan Stanley. Facilitating this process is the International Finance Corporation (IFC), the private sector arm of the World Bank group, ensuring for investors the ‘enabling environments’ and positive ‘investment climates’ required for the extractive industries, such as repatriation of profits and tax ‘competition’. From 1991-2002, deregulation proposed by IFIs composed 95 per cent of changes implemented in host countries.
  • development finance siphoned from Africa, whether through the extractive industries, or land grabs, are unlikely to be revealed as the IMF scrapped mandatory information exchange. Global watchdogs, such as the Financial Action Task Force (FATF) remained beholden to high-income nations as a ‘subsidiary’ unit in the Organisation of Economic Co-operation and Development (OECD). Meanwhile, the International Accounting Standard Board (IASB), founded and finance by the ‘big four’ accounting firms – maintaining units in secrecy jurisdictions such as the Cayman Islands – prefers multinationals to self-regulate trade via arms length transfer. What this effectively does is enable multinationals, conducting 60 per cent of global trade within rather than between corporations, to determine the future of entire continents such as Africa, where primary commodities – extracted by corporations, account for 80 per cent of exports.
  • Studies by the International Institute for Environment and Development (IIED) revealed, ‘Many countries do not have sufficient mechanisms to protect local rights and take account of local interests, livelihoods, and welfare. Moreover, local communities are rarely adequately informed about the land concessions that are made to private companies. Insecure local land rights, inaccessible registration procedures, vaguely defined productive use requirements, legislative gaps, and other factors all too often undermine the position of local people vis-à-vis international actors.’[1]
Arabica Robusta

Public Aid, Philanthropy, and the Privatization of African Agricultural Development | F... - 0 views

  • The revived dream of an African Green Revolution in the new millennium, however, is actually a much larger project to make Africa safe for capital.
  • It is difficult to disentangle the web of alliances between the Gates Foundation, USAID, and various U.S., African and pseudo-African biotech research institutions-but the motives are crystal clear. USAID is currently headed by Rajiv Shah, former director of agricultural development programs at the Gates Foundation. It has become one of the main agencies promoting the expansion of biotech crops in Africa. The push for GM crops received a boost from the Global Food Security Act (AKA the Lugar-Casey Bill) based on a suspiciously appropriate Gates Foundation report entitled "Renewing American Leadership in the Fight Against Global Hunger and Poverty." The Lugar Casey bill would restructure aid funding to include over $7 billion for GM crops, giving Aid-dependent poor countries few options for formulating "home-grown" agricultural solutions.
  • The Gates Foundation recently donated US$ 270 million to CGIAR. According to Prabhu Pingali, head of agriculture policy and statistics at CGIAR, the plan is to double the organization's funding to $1 billion over the next four years. The Gates Foundation seems to have acquiesced to the reality that Africa is a complicated continent with myriad social networks, and that CGIAR's planned new consortium of research centers and it's decades of "Green Revolution" experience, might help him ramp up his own vision of a ‘modernized' and ‘marketized' African agriculture.
Arabica Robusta

Africans Face Competing Visions of Agricultural Development at a Critical Juncture | Fo... - 0 views

  • The IFIs' fixation on macroeconomic indicators leads to the misguided belief that bumping up countries' GDPs will help poor Africans by way of some mythological trickle-down effect that has yet to materialize. This metric has led, among other things, to an inexorable push in Africa for large scale industrial agriculture for export markets, while leaving the peasant farmers who produce most of the food consumed by Africans out of the equation. The aid regime has thus done more to open Africa's agricultural resources for exploitation than to mitigate the roots of poverty and hunger in Africa.
  • While it is not surprising that the IFIs mediate the global economy, often brutally, in favor of the OECD countries-the flip side would be to engage in development activities as if these global imbalances did not exist. This seems to be the Earth Institute's perspective. Their website describes their program as bringing the benefits of scientific expertise of "850 scientists, postdoctoral fellows, staff and students working in and across more than 30 Columbia University research centers" to solve "real world problems." The Earth Institute believes "finding solutions to one problem, such as extreme poverty, must involve tackling other related challenges, such as environmental degradation and lack of access to health care and education."
  • It is not difficult to succeed when one has a lot of money and one defines success as eradicating poverty in individual villages.
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  • The villagers in Sauri are understandably happy with the results, but off the record they have criticized the non-inclusiveness of the top-down approach.[i] UN officials and scientists have also been reluctant to speak against Sachs on the record for fear of retribution.
  • The Millennium Villages siphon off money better spent elsewhere, and draw attention away from creative, grassroots approaches to local problems. Long-term solutions require sustainable low-tech methods that farmers can control, such as permaculture, seed banks, and green manure; as well as redistributive land reform and marketing boards to provide some security.
  • Millennium Challenge Corporation (no direct relation to the Millennium Villages project). Created in 2004, the MCC is a U.S. Government aid organization that has spent $5.5 billion since 2004 awarding contracts to private businesses in target countries. The MCC's focus on raising the overall GDP is being pursued with the same failed policies as the IFIs: aggressive privatization, foreign direct investment (predatory capital), and global integration.  One of the more contentious aspects for small farmers are land grabs by foreign investors, facilitated via MCC contracts for "Systematic Land Regularization and Improvement of Rural Land Allocation." A recent report by GRAIN reveals that the MCC has been using "Land Regularization" to change land ownership rules and gain access to tens of thousands of acres of land in three of the ECOWAS countries: Benin, Ghana, and Mali.
Arabica Robusta

Can the whole world be fed? | SocialistWorker.org - 0 views

  • "The food crisis appeared to explode overnight, reinforcing fears that there are just too many people in the world," wrote Eric Holt-Giménez and Loren Peabody of Food First. "But according to the FAO, with record grain harvests in 2007, there is more than enough food in the world to feed everyone--at least 1.5 times current demand. In fact, over the last 20 years, food production has risen steadily at over 2.0 percent a year, while the rate of population growth has dropped to 1.14 percent a year. Population is not outstripping food supply."
  • Walden Bello of Focus on the Global South asked an important question in a recent article: "How on earth did Mexicans, who live in the land where corn was domesticated, become dependent on U.S. imports in the first place?"
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    "The food crisis appeared to explode overnight, reinforcing fears that there are just too many people in the world," wrote Eric Holt-Giménez and Loren Peabody of Food First. "But according to the FAO, with record grain harvests in 2007, there is more than enough food in the world to feed everyone--at least 1.5 times current demand. In fact, over the last 20 years, food production has risen steadily at over 2.0 percent a year, while the rate of population growth has dropped to 1.14 percent a year. Population is not outstripping food supply."
Arabica Robusta

Pambazuka - Why land matters to Africans regardless of agriculture - 0 views

  • In both cases the agrarian question in relation to agricultural productivity and ownership of land in Africa was brought to the fore not least because of the ‘new’ wave of ‘land grabbing’ across the continent.
  • The case of South Africa and Zimbabwe’s ongoing land reforms highlights this contentious relationship. On the one hand they jointly affirm the centrality of land ownership in Africa irrespective of whether Africans use it for agricultural production or not. Yet, on the other hand, they dialectically confirm the viability of agricultural productivity among the African peasantry.
  • even such a presumable better land would hardly compensate. After all they had a rationale for being where they were in the first place. It is those kind of rationales that one needs to unpack, even today, before jumping into the bandwagon of claiming such and such land in Africa is idle and hence the imperial imperative of displacing Africans to pave way for investors.
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  • land is intimately linked to identity. It is central to the production and reproduction of community. Land thus ensures cultural continuity.
  • Although all forms of land tenure recognized by the Ugandan constitution are underpinned by patriarchy, she sharply noted, research from the ground indicates that the often demonized customary land tenure is relatively far beneficial to women when it comes to ensuring their access to land. At the risk of appearing a pro-patriarchy apologetic she aptly states: ‘Customary land tenure systems and production relations have in-built social insurance mechanisms … meant to ensure that the land needs of everybody in the community, including the needs of vulnerable members of society – aged, widowed, orphans, etc, are met.
  • Customary tenure arrangements are also designed to support livelihood systems. This is not the case for other tenure systems which support highly individualized and commercialized lifestyles. As long as women’s membership to a production unit is intact under customary tenure systems, therefore, they can have access to land, social networks and mutual support systems as well as common property resources which supports their efforts to fulfill their obligations for household food production, whether they are married, widowed or unmarried.’[4]
  • By reducing “the land question to a question of livelihoods and agriculture only” they fail to grasp that in South Africa as in other African countries “there is more to the land question which has to do with fundamental claims of legitimacy over ownership and control of the country at large”.[7]
  • This blind spot, and the persistence denial of the failure of ‘willing seller-willing buyer’ and ‘use it or lose it’ land reform models in South Africa, needs an eye salve from Zimbabwe’s Fast Track Land Reform Programme (FTLRP). Unfortunately the debate on the merits and demerits of FTLRP has been coloured if not tainted by the preoccupation on the despotic regime of President Robert Mugabe. Yet when one scratches the surface on the ground it is easy to see how such selective engagement had been informed by a similar myopic discourse on land use for agriculture.
  • ‘Needless to say, a number of scholars have never recognized this potential. On the contrary, they continue to speculate about “crony capitalism” (Patrick Bond) and the “destruction of the agriculture sector” (Horace Campbell), without having conducted any concrete research of their own, or properly interrogated the new research that has emerged.’[12]
  • The irony is that even the British Broadcasting Corporation (BBC), well known for being so quick to dismiss if not demonize any positive side of Zimbabwe’s radical land reforms, had to reluctantly swallow its pride and prejudice as it extensively quoted Scoones’ admission of being “genuinely surprised” by findings of their study on ‘Zimbabwe’s Land Reform: Myth and Reality’ that debunks these five myths perpetuated by “political and media stereotypes of abject failure” in Zimbabwe: (1) That land reform has been a total failure; (2)That most of the land has gone to political "cronies"; (3) That there is no investment on the resettled land; (4) That agriculture is in complete ruins, creating chronic food insecurity; (5)That the rural economy has collapsed.[14]
  • There has been a torrent of journalistic accounts on the success of the Zimbabwean farmers in transplanting commercial agriculture to Nigeria. Under titles like ‘White Zimbabweans Bring Change to Nigeria’, ‘White Zimbabwean farmers highlight Nigeria's agricultural failures’ , and ‘White farmers from Zimbabwe bring prosperity to Nigeria’. The impression is created of a massive transformation based on the ingenuity of the Zimbabwean farmers and without any support from Nigerian governments. But is this really so? The terms of the [Memorandum of Understanding] MOU which the Kwara State government signed with the Zimbabwean farmers, and developments surrounding the establishment of the farms, paint a different picture. It committed the State government to the provision of a series of services crucial for the development of the commercial farms. Crucially, it committed the government to provide land. The government undertook to clear choice land of the indigenous users’ right next to the River Niger. 1289 local farmers in 28 communities were uprooted from their farms to make way for the Zimbabwean farmers. The state set aside a total of N77m (US$513,333) as compensation for the displaced local farmers. Each of the initial 13 Zimbabwean farmers received a 25-year lease of 1000 hectares. The state's instrumentalist use of compensation and 'agricultural packages' (bicycles – 720 were distributed – , fertilizers, seed etc.) and the provision of long sought after communal infrastructure like electricity and additional classrooms in local schools helped to defuse local protests. [15]
Arabica Robusta

Pambazuka - Profits before people: The great African liquidation sale - 0 views

  • it was all summed up clearly for me by members of COPAGEN, a coalition of African farmer associations, scientists, civil society groups and activists who work to protect Africa’s genetic heritage, farmer rights, and their sovereignty over their land, seeds and food. All these knowledgeable people have shown me that the answer is quite straightforward: many of those imported mistakes, disguised as solutions for Africa, are very, very profitable. At least for those who design and make them.
  • These monetarist schemes have helped to make Africa poorer and even more dependent on foreign donors and capital, and thus more vulnerable to still more of the big plans, so that now, even as Africans struggle to confront the perfect storm of the global food crisis, financial crisis and climate change – all of which are the offspring of the unfettered free-market financial system – the same big planners are at it again with more sweeping solutions (profitable ones) for the problems they themselves caused.
  • So what do the world’s great investors have their eyes on in Africa, in addition to the usual natural resources – minerals, petroleum and timber – that they’ve always coveted? In a word, land. Lots of it. The land-grabbing 'investors' are purchasing or leasing large chunks of African land to produce food crops or agrofuels or both, or just scooping up farmland as an investment,
    • Arabica Robusta
       
      Biofuels as an "export crop": immoral.
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  • At the moment, the grabbing of Africa’s land is shrouded in secrecy and proceeding at an unprecedented rate, spurred on by the global food and financial crises. GRAIN, a non-profit organisation that supports farm families in their struggles for community-controlled and biodiversity-based food systems, works daily to try to keep up with the deals on its farmlandgrab.org website.[vi]
  • Apart from the African governments and chiefs who are happily and quietly selling or leasing the land right out from under their own citizens, those who are promoting the new wave of rapacious investment include the World Bank, its International Finance Corporation (IFC), the European Bank for Reconstruction and Development and many other powerful nations and institutions. The US Millennium Challenge Corporation is helping to reform new land ownership laws – privatising land – in some of its member countries. The imported idea that user rights are not sufficient, that land must be privately owned, will efface traditional approaches to land use in Africa, and make the selling off of Africa even easier. GRAIN notes the complicity of African elites and says some African 'barons' are also snapping up land.
  • another big plan is buffeting Africa’s farmers. It’s the Alliance for a Green Revolution in Africa (AGRA), which claims it is working in smallholder farmers’ interests by 'catalysing' a Green Revolution in Africa. Green Revolution Number Two.
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    "it was all summed up clearly for me by members of COPAGEN, a coalition of African farmer associations, scientists, civil society groups and activists who work to protect Africa's genetic heritage, farmer rights, and their sovereignty over their land, seeds and food. All these knowledgeable people have shown me that the answer is quite straightforward: many of those imported mistakes, disguised as solutions for Africa, are very, very profitable. At least for those who design and make them."
Arabica Robusta

Pension funds: key players in the global farmland grab - 1 views

  • According to Barclays Capital, some US$320 billion of institutional funds are now invested in commodities, compared to just US$6 billion ten years ago.
  • The big picture shows that: the largest institutional investors are planning to double their portfolio holdings in agricultural commodities, including farmland; they are reportedly going to do it very soon; the new surge in money will push up global food prices; high food prices will hit poor, rural and working-class communities hard.
  • A coalition of family farm, faith-based and anti-hunger groups, along with business associations, have initiated a campaign to persuade investors to pull out of commodity index funds.
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