Foreign investment in Australia is rarely far from the headlines with claims offshore buyers are inflating house prices and controlling too much of the country’s food production. But when it comes to the farm sector, there is another side to the story.
Australians are adept at tut-tutting about how much of the country’s agricultural land has been sold to foreigners.
Fuelled by regular reports about China’s growth, its appetite for Australian sugar, beef, sorghum and more, and its purchase in 2013 of Australia’s biggest cotton producer and irrigator on the border of Queensland and New South Wales, it is perhaps not surprising.
According to the Australian Bureau of Statistics, foreign investors own 10% of Australia’s agricultural land, a figure little changed in 25 years.
But that could soon rise thanks to two huge projects being developed in Northern Territory’s Top End with the help of foreign investors.
For the full article on foreign investment in Australia please visit BBC here. Article written by Liz Wells, Toowoomba Queensland Australia