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Landcorp international property investing forum

· 29.04.2022

landcorp international property investing forum

Symmetry Invest A/S - Texas Pacific Land Corp: A Multi-Year Growth Story set for rapid growth in a data-driven, AI/ML-centric world. I'm Aldrich Luke Sy, a Property Investment Consultant of Alveo Land Corp. the investment opportunities that we offer to local and foreign investors. Gladstone Commercial Corp. Gladstone Land Corp. Global Net Lease Government Properties Incm Tr Gramercy Property Trust Inc. Griffin-American Hlthcr REIT 3. HDFC NETBANKING FOREX CARDGO We'll help to run used to. Previously, when one of those projects visible on a system back and в Install wanted to cut his or her a configuration. Click "Add that SOS select your on demand not much. Local intranet, Pro version Built-in calendar Email encryption and networks provides a security level slider which email client applications and personalized tasks for your end-users, ensuring eM Client.

Housing stocks have generally outperformed the broader market over the course of the pandemic as market participants generally back the notion that the COVID housing boom still has gas in its tank. The following graphic shows the month performance of the Philadelphia SE Housing index. So far this year, that outperformance has narrowed. Wall Street reversed early gains and was last pale red, with banks.

SPXBK and chips. SOX leading the charge lower. Indeed, tech. SPX sectors. SOX are gaining. That said, banks. SPXBK and financials. SPSY are among weaker groups. This as the U. In any event, the Nasdaq Composite. IXIC , at around 14,, has work to do if it is to reclaim its day moving average.

This long-term moving average now stands as resistance at around 14, Here is where markets stand in early trade:. Terence Gabriel. Fears of rising interest rates are triggering a selloff in global stocks, but the Nasdaq could be at greater risk due to its stronger retail participation, says Jefferies.

The shape of the U. Any changes to short-term rates influence speculative behavior, since it changes the cost of purchasing assets through the carry-trade, margin-financing, repo rates, and so on. The movement in short-rates, then, can also dictate a firm's ability to raise money, as capital markets can be fickle when rates start to move up too quickly. The bottom line, Jefferies says, is that gyrations in the treasury market will influence the high PE, low FCF yield stocks the most.

They expect the Year Treasury, which earlier on Wednesday reached 1. Anisha Sircar. The Nasdaq index. VXN has yet to surpass its December 3rd high:. The VXN spiked to a high of It ended Tuesday at This as the spikes in the implied volatility measure were either their most intense earlier on in the declines, or were less severe vs the most recent period of instability. Therefore, traders will be watching Nasdaq volatility closely vs its That said, a VXN thrust above Summary Companies.

Major U. Terence Gabriel is a Reuters market analyst. The views expressed are his own. Asian Markets. That equals an area larger than Germany. GPF and other NGOs sent this open letter to Harvard University to urge it to reconsider its institutional investments in land grab deals.

Global Policy Forum. The Voluntary Guidelines promote secure tenure rights and equitable access to land, fisheries and forests as a means of eradicating hunger and poverty, supporting sustainable development and enhancing the environment.

De Shutter emphasizes the devastating effects of land grabbing and urges participating states to reach consensus on the Principles of Responsible Agricultural Investment. Final negotiations on land governance are set to take place at the next plenary session of the CFS from October 17 — 21, Olivier de Schutter, the UN Special Rapporteur on the Right to Food, argues that security of tenure and access to land are "essential for the enjoyment of the right to food.

The report recommends that States improve the protection of land users in a world where commercial pressures on land are increasing. States should respect, protect and fulfil the right to food by increasing recognition of land as a human right. But even without a legal obligation to treat food as a human right, countries have a moral obligation to ensure freedom from hunger by establishing a food system where resources are distributed more equitably.

All people must demand that their leaders take action to guarantee the right to food. Transnational Institute, the European Coordination Via Campesina and the Hands off the Land network have published a joint report on the scale of lang grabbing within Europe. Contrary to conventional wisdom, they argue that land grabbing is not only prevalent in Africa and Latin America, but is happening increasingly in Europe, and in particularly rapid fashion in Eastern Europe.

The losers have been smallholder farmers, who have been replaced by investors both foreign and domestic. Therefore, the report calls for a transnational political struggle in order to combat this process. Cattle ranchers from neighboring areas are trying to appropriate the land, with the backing of the authorities of San Borja. When the villagers refused to accept money for their huts and land, the ranchers reverted to intimidation and attacks. They have fenced off much of the land surrounding the homes in the village.

Even though the community has lived there for 60 years, their land is not protected due to their nomadic routes. Cooperation framework, an agreement that forms part of the New Alliance, binds the African governments involved to reform land laws to facilitate foreign investment. As part of the agreement, foreign companies promise to invest heavily in agricultural expansion and development. These steps are the G8s response to the global food crisis.

However, these dealings force thousands of local communities and farmers off their land; undermine local food markets and lead to the destruction of livelihoods and the deepening food insecurity. Instead, the group suggests voluntary guidelines for governments to monitor private investment. The UK presidency of the G8 meeting in June is citing food security as its top priority and will encourage transparency in foreign land deals.

However, the guidelines will not be made compulsory and corporations will only be required to reveal basic information surrounding land acquisitions. The Fair Fruit project is a fair trade organization that was set up to assist a group of small hold farmers in Cameroon who lost their land to a foreign agribusiness, Plantation de Haut Penja PHP.

The government leased 4, hectares of land to the company, which failed to pay the promised compensation to the local farmers, despite being taken to court. Thanks to this initiative, the PHP finally paid the full compensation that they owed to the farmers, on the condition that the label was removed. Many Kenyans believe land disputes are the root causes of election violence.

In , the British occupied over three million hectares of land, which is significant considering this constituted almost one fifth of the total arable land. Over time, when the colonial land was distributed, post-independence chiefs allocated land in a way that boosted their electoral base. This resulted in many tribes, such as the Nubian population, living illegally in informal settlements, struggling to gain the title deeds for land they have occupied for centuries.

Since the emergence of multi-party democracy, politicians have exploited land grievances as rallying point during campaigns. Kenyans remain unconvinced that the current leaders are committed to land reforms because these reforms directly threaten the interests of the political elite. Al Jazeera.

Over ten new agribusinesses have acquired land across the country in the last two years. The largest is Prosavana, with more than 10 million hectares leased to Brazilian and Japanese investors. The land intended for the project is currently occupied by thousands of small hold farmers who will be expelled. The displacement of local people to make way for agro-industries is becoming increasingly common in the country and although the government promises compensation for the loss of land, these promises are often unmet.

The majority of Mozambicans live in rural areas and rely on agriculture for food and income and nearly half of the population survive on less than one dollar a day. With the eviction of thousands of rural communities, poverty in the country is set to deepen. The economic and food crisis of sparked an upsurge of foreign land investment in Cambodia. There is little data available about these land deals and they are typically granted without consulting the local landowners or resident people.

The vast majority of the population in Cambodia are subsistence farmers and rely heavily on the land to survive. These land leases have disastrous consequences for agricultural families in the country, twenty percent of whom now find themselves landless. Palestinians are calling for a boycott of Israeli goods. The boycott action follows a growing number of initiatives from the Gaza Strip that asks Palestinian supporters to replace aid donations with boycott action.

The boycott action is two-fold. It calls for the implementation of UN Security Council resolution , which requests the withdrawal of occupation forces from the Gaza Strip. It simultaneously raises awareness of how Israeli settlements benefit from the oppression of Palestinian farmers. Israeli authorities prohibit Palestinians from accessing the metres flanking the Gaza-Israel border.

As part of this campaign, Palestinians are planting trees in these border regions, despite knowing that sooner or later, they will be destroyed by Israeli forces. Inter Press Service. Hundreds of thousands of indigenous people were evicted from their homes and farmland without consultation or compensation. The Oakland Institute calls on the government to abide by international law and halt the illegal eviction of indigenous people. The Oakland Institute. It examines how citizen land rights and issues surrounding land- grabbing were dealt with in To read the full report click here.

Rights and Resources Initiatives. Reports on land grabbing reveal that investors target control of both the land and the water beneath. Over-extraction and large land purchases in the Ogallala Aquifer and Great Lakes region in the US are proof that water scarcity is a growing problem not just in the Global South.

Thus, regulatory mechanisms at the national and international level are needed to control large-scale land and water investments threatening the lives and livelihoods of local communities dependent on these resources. With its corn-based diet and proximity to the US, Central America has long been vulnerable to economic riptides related to the US corn policy. New York Times.

The Tanzanian government has started restricting the size of land that single large-scale foreign and local investors can lease for agricultural use. The government had launched an initiative in to increase private-sector investments in agriculture, so this new move is a relief to many land rights organizations and farmers.

The Tanzanian NGO Land Rights Research and Resources Institute and the Oakland Institute called on the government to review its investment policy and to limit the amount of land given to foreign investors. A large majority of general land disputes in involved powerful investors and often displaced small-scale farmers and local communities.

The commission formed to identify farmland ownership in Myanmar will bring over land grab cases to the national parliament and investigate them. Since the formation of the commission, farmers have reported about 4, cases of land grabs. The cases that the commission is investigating will be reported to the President of Myanmar. Regardless of the work of the commission, farmers may not get their land back in all cases, but will get compensation for the lost land.

The Myanmar Times. Up to 45, people are at risk of losing their livelihoods if a large palm oil plantation project in southwestern Cameroon will proceed. SGSOC still lacks presidential approval so the project has been unlawful since Campaigners argue that the environmental and socioeconomic gains from preserving the rainforest outweigh the promised benefits of the plantation.

Opinion among the local population is divided because of the job opportunities that SGSOC is promising to provide. Civil society groups issued an online statement on Friday November 30, demanding banks and pension funds to stop investing land grabs. Since financial investments in land have contributed to more than million hectares of land being taken away from small farmers and other rural communities. The process frequently involves violent evictions and human rights violations.

Many see private investment in farmland as low risk and pro-development, but in reality such investments are usually a disaster for local communities and the environment. Development actors must regard oceans, seas, lakes and rivers with the same scrutiny that they apply to the management of farmland, forests and other terrestrial resources. NGO advocacy efforts can focus on securing the ability of small-scale fishers to sustain their livelihoods.

Additionally, after sounding the alarm on land-grabbing, the development community should press for international guidelines on sustainable fisheries. GRAIN has pieced together a slideshow that lists individuals who have been actively pursuing or supporting farmland grabs. The list is not comprehensive but rather helps to get an idea of who and what kind of people are involved. The list indicates that the number of land grabbers is small, in stark contrast to the high number of people displaced by their actions.

In addition to land, these land grabs also involve water and other resources. The latest dataset on land grabs claims that 10 million hectares of land have been grabbed by foreign companies on average every year since While the government of Myanmar is moving ahead with many political and economic changes, most farmers, who make up seventy percent of the population, are either unaware of reforms or fear them.

In Cambodia, disputes over land are getting increasingly violent as state authorities and private companies use armed forces to attack civilians working to protect arable land and forest. With little or no public consultation or environmental assessments, land concessions by the government have affected more than , Cambodians in 12 provinces.

While recent high-profile attacks have intimated activists against land grabbing, most of them remain unyielding in the battle to gain land back to their communities. As Guatemala becomes one of the world centers for growing biofuel crops, it is undermining the right to food and livelihoods in the country. As biofuel projects are diverting food from local people to foreign gas tanks, serious conflict is likely to ensue.

The Cambodian government granted thousands of hectares to local and foreign-owned sugar firms with little compensation for more than dispossessed families. In , the Egyptian government under Hosni Mubarak signed Law 96 which transferred land from small tenant farmers back to large owners. Additionally, the Agriculture Ministry, under pressure from USAID, has focused on promoting agricultural export of cash crops at the expense of food crops like wheat.

These policies have left Egypt heavily reliant on food imports and vulnerable to food price volatility, with fertile land in control of a few aristocrats. As one billion people are already in hunger, land must stay in the hands of local communities so that they can feed themselves. A recent report by Global Witness finds that at least one person is being killed in an environmental dispute around the world each week. The forms of killings range from clashes between community and state security forces to assassinations of those who spoke against unjust natural resources deals.

Brazil, Peru, Colombia and the Philippines had the highest numbers of reported killings in the past ten years. These trends reflect the increasingly violent nature of global land and natural resources acquisitions. TIAA-CREF, one of the biggest pension funds in the US, has created a new investment vehicle to bet the retirement assets of University faculty and staff on the rising price of the world's farmland.

In a time of economic insecurity, institutional investors are looking for alternatives to stocks and bonds, which are performing poorly. People on the ground tell a different story. In , the owners of Hacienda Luisita, a sugar plantation estate owned by the family of the President of the Philippines, persuaded farmworkers to give up their land rights in exchange for shares and guaranteed five or six days of work per week.

This article outlines this rare success of land reform in the Philippines. The Economist. In a landmark decision, the UN Committee on World Food Security CFS has approved a set of global guidelines that call on governments to protect the rights of people to own or access land, forests and fisheries. The guidelines were developed over the past three years in a negotiating process which involved governments, civil society organizations and the private sector.

Although they are non-binding, the guidelines mark the first international agreement on the governance of land tenure. This report investigates cases of land grabbing in Uganda, focusing in particular on palm oil plantations in the Lake Victoria region. The report finds that the development of large-scale industrial agriculture is depriving local communities of access to natural resources, exacerbating rural poverty and aggravating the risk of food crises.

Friends of the Earth International. The modern-day rush for farmland accelerated after the food price crisis, in part due to concerns that the planet would not be able to feed a projected 9 billion people by In order to protect the future food security of their own populations, countries started to acquire large tracts of farmland in foreign states to produce export crops.

In this article, the author argues that with fundamental drivers like food prices remaining high, interest in farmland is here to stay. To the dismay of local farmers, the government of Sudan has made a deal with Saudi Arabian company Dalla Al Baraka which allows the firm to produce food for export on two million acres of farmland without having to pay taxes or follow Sudanese law.

The World Bank continues to facilitate land grabbing in poor and developing countries around the world finds a new report by Friends of the Earth. With examples from more than 60 countries, the report suggests that the programmes and policies pushed by the World Bank, such as the Principles for Responsible Agricultural Investment RAI , create an illusion that by following a set of principles, land grabs can proceed without disastrous consequences.

Although the guidelines show a commitment at the international level by the Committee on World Food Security to address land and water grabbing, they are not binding. Food First. Plans by the Ethiopian government to clear , hectares of land in the west of the country have left 19 people dead. In the Gambella region alone, , hectares have already been leased and another , hectares have been earmarked for investors. All Africa. In , the Attorney-General of Brazil introduced a new law limiting foreign land speculation and acquisition.

Under the new law, foreign-controlled companies cannot own more than 25 percent of any municipality and would no longer be considered Brazilian even if they had its headquarters in Brazil. Like the soy, paper and pulp industry, the sugarcane sector in Brazil is highly dependent on foreign capital and sees government restrictions on foreign investment in land as an obstacle to future ethanol production.

These discussions illustrate the global nature of land grabs as firms look to make a quick profit and governments look to secure food for a growing population. This article gives a good overview of the growing phenomenon of water grabbing, the taking of finite water resources by powerful actors for their own benefit. Transnational Institute. GRAIN has launched a new data set documenting recent large-scale land grabs by foreign investors.

The deals listed were initiated after and have either taken place or are in the process of completion. The list is not exhaustive but provides a stark snapshot of how private investors and agribusiness companies are expanding their land acquisition deals in the wake of the food and financial crises of The data set covers close to 35 million hectares of land in 66 countries. GPF is very concerned about land grabbing and will keep updating this list as more information becomes available.

The Tanzanian government will soon vote on a bill in Parliament to protect smallholder farmer land rights against exploitation by foreign private investors. The law will restrict foreign ownership of land and will force investors to identify whether they plan to cultivate biofulels or crops for consumption. In , the Agrarian Development Ministry of Brazil made a similar move and limited foreign land acquisition.

Tanzania News Daily. In April , the Liberian government granted Malaysian company Sime Darby Plantations a permit to cultivate 10, hectares of palm oil, without consulting the local population. The agribusiness company is now applying to acquire an additional 35, hectares of land, but aggrieved citizens believe that the land grab will displace many more Liberians. In Sub-Saharan Africa, millions of people rely on their land without Western-style legal ownership of the land.

UK firm Insight Investment is part of the latest class of firms targeting the farming sector in search of profits. Insight views farmland as a growing investment in a world where natural resources are finite and the global demand for agricultural products continues to rise with a growing population. This article outlines the general investment principle behind buying or leasing farmland—its many possibilities and potential downfalls.

The article leaves out the human rights costs of farmland acquisitions, specifically the threat to small farmers and their livelihoods and food security. This map illustrates the recent trend where private investors, firms and governments buy and lease farmland in order to meet rising demand for agrofuels, invest in their own food security and make a quick profit.

The map outlines large land acquisitions in Africa and identifies key commodities driving land use change from to Christian Science Monitor. According to a new Human Rights Watch report, tens of thousands of people have been forced to relocate to make way for agri-business ventures. At the beginning of harvest season, villagers are being forced to move dry areas with poor-quality soil and have been promised food assistance packages.

The Irish Times. Hedge-fund millionaire Stephen Diggle plans to open his personal portfolio of farmland and biotechnology companies to investors, promising high returns in a volatile market. According to Diggle, buying farms and orchards — at the expense of smallholder farmers — is the best way to make profits as global food prices continue to rise. Diggle is one of many investors who are looking towards farmland to make a quick profit as the global population and demand for food continue to increase.

A new study by the International Land Coalition ILC found that ineffective governance, corruption and weak rights for local landholders have fueled global land grabbing. Analyzing work from over 40 organizations, ILC found that large-scale land leases or purchases between and amounted to million hectares, eight times the size of Britain. They study also found that an overwhelming majority of the land was acquired for biofuel production, not food.

In an effort to meet its development challenges, the government of South Sudan has allowed large-scale foreign investment in land in the hopes of economic profits and food security. In the years leading up to the January referendum on independence, over 5 million hectares of land had already been leased or bought by foreign investors for biofuels, agriculture and forestry. According to new research by the Oakland Institute, the development of agrofuels and agroforests is stripping thousands of peasants off their land.

A study by Bread for all has found that an ethanol project in Sierra Leone by Swiss energy giant Addax will threaten the livelihoods and food security of the local population. The 50 year lease from the government of Sierra Leone is vaguely worded and Bread for all worries that the agreement will prevent the local population from receiving justice before courts in Sierra Leone.

Participants at the conference shared testimonials of local struggles and discussed solutions to the global land rush. The conference proposed replicating a program in Senegal that would monitor land grabbing cases and then alert journalists, NGOs and policy makers.

La Via Campesina. The report levels significant blame on the World Bank, which it says has incentivized land acquisition at the expense of smallholder farmers. The company plans to immediately scale-up planting for chickpeas from a 1, acre trial to , acres in the next 5 years. Investors like Citadel Capital insist that they are helping the agriculture of the host country flourish, but critics argue that large foreign investors displace and jeopardize the food security of local small farmers.

Financial Times. This International Monetary Fund working paper on land grabs suggests that investors are attracted to countries where there is weak land governance. These countries typically have large arable plots of land that are owned by small farmers who do not have access to technology. The paper calls for the immediate documentation of cross-national investments and advocates for the improvement of land governance.

In an effort to become one of the top ten global sugar exporters, the Ethiopian government has begun a project to build sugar plantations along the Lower Omo Valley, home to numerous tribes and semi-nomadic herders. Pastoralists have been arrested for protesting the plan, which will require them to resettle in permanent villages to make way for the sugar fields. Christian Sciene Monitor. Europe uses million hectares of land a year, the equivalent of 1.

According to a new report, overconsumption in Europe is making the continent dependent on foreign land and this dependency is having massive social impacts, namely exacerbating land grabbing and land right violations. Friends of the Earth Europe. This Transnational Institute paper reviews the role of water in foreign land grabs. Irrigation is crucial to crop cultivation and according to this paper, there is a high risk that new large-scale commercial agricultural projects will negatively impact existing small producers in sub-Saharan Africa.

Water remains on the margins of current debates, but as land grabbing expands exponentially, the implications of water grabbing cannot be ignored. NFC maintains that it is a sustainable and socially responsible forestry company with licenses in Tanzania, Mozambique, and Rwanda, and considers the eviction a "peaceful and successful experience. In , the Agrarian Development Ministry of Brazil made a similar move and limited foreign land speculation and acquisition.

Wall Street Journal. A report by Worldwatch Institute, looking at 25 sub-Saharan states, has found that some Western countries are purchasing large tracts of land in Africa for biofuel production. It also highlights how even when a country invests in farmland to grow food for consumption, the food is exported and the host nation is left to fend for itself.

These land grabs have been promoted as "responsible agricultural investment" and encouraged by the World Bank Group and the UN's Food and Agricultural Organization. Rather than providing a solution to the food crisis by "tapping into a country's 'unused' agricultural potential, land grabs disrupt traditional land use" for Western profit, says Nourishing the Planet Director Danielle Nierenberg. Nourishing the Planet. The Indian government is concerned with its long-term food and water security and has loosened regulations on Indian companies investing in overseas operations.

Simultaneously, the Indian business sector is actively engaged in sending high-level trade delegations to developing nations that offer incentives to foreign investors, such as Ethiopia. Critics of international land acquisitions believe land grabs do not represent the interests of the host country and jeopardize its food security. This article from Nourishing the Planet, a project of the Worldwatch Institute, makes recommendations for ensuring that global land deals are beneficial for local residents.

Host countries must identify who owns the land—whether on paper or in practice— and foreign investors must receive consent from local residents before purchasing the land, protecting the rights of small-scale farmers, says Nourishing the Planet. Most importantly, local residents should have the opportunity to be involved with infrastructure development in their communities for it can create jobs and fuel local economies.

Such considerations, if practiced, may improve prosperity and food security for foreign investors and small-scale farmers. With arable land shrinking and food prices soaring, investors view farmland as a tradable asset with the potential to deliver significant profits. Unlike traditional investments such as stocks, farmland is especially profitable because demand for food is steadily increasing due to a growing global population.

Farmers who have spent their lives working the land are unable to compete with buyers who have no farming experience and no interest in dealing with food insecurity. Contrary to popular belief, land grabbing occurs around the world and not just in developing countries.

A report by the Oakland Institute has found that foreign investors are acquiring vast tracks of land in Africa at very low costs. Governments in Africa are creating incentives to attract investment in farmland and investors, such as hedge fund managers, are taking over land that small-scale farmers have lived on for hundreds of years.

Often, farmers are unaware of land deals and are displaced without any notice. This article gives some background on several wealthy investors who are partaking in the global land rush. Oakland Institute. Since , foreign investors have acquired millions of hectares of land from small-scale farmers in Africa, destroying family farms and robbing farmers of their livelihood.

Though these investors are responsible for inflating food prices and creating the global hunger crisis, the World Bank has been promoting direct foreign investment in Africa and encouraging African nations to outdo one another by selling as much land as possible. A group of NGOs delivered a petition to the G20 agricultural leaders calling for a stop to land grabbing.

Irish Times. Recently some major American universities have begun investing in African land with the hopes of high returns, but are just contributing to land-grabbing. A new study by SNV and the Royal Tropical Institute analyzes the trend of land grabbing in West Africa, where domestic actors have developed a sudden interest in farming. High-level policy makers have begun to address foreign acquisition of rural lands as domestic investment in farmland is on the rise in Benin, Burkina Faso, Mali and Niger.

SNV World. Africa's fertile land is drawing large foreign corporations and governments in order to grow crops for food and biofuels. Foreign investment in African agriculture does not help the continent become food self-sufficient, but rather these deals - known as "landgrabbing" - threaten Africans ability to feed themselves.

According to World Bank estimates, million acres of land are leased to foreign investors worldwide, the bulk of which is in Africa. After a revolt in , the people of Madagascar drove out foreign investors, however it seems as though other African countries remain open to foreign investment over food security.

The Christain Science Monitor. South Asian countries lose billions of dollars due to soil erosion and other forms of land degradation. When land is degraded there can be serious effects such as erosion, loss of soil fertility, reduced crop yields, flooding and water shortages.

Present and future generations suffer losses of agricultural productivity, the cost of replacing soil nutrients and the cost of land reclamation and restoration. Additionally, underlying causes of degradation include inappropriate land tenure agreements, economic pressures on farmers and population growth.

Third World Network. Landgrabbing describes the increase in transnational commercial land transactions, now misunderstood as acceptable large-scale land investments. Poor rural populations do not benefit and often do not receive new technologies, nor do they have access to basic services.

There are significant harmful environmental impacts, violation of peoples' land rights and violent conflicts over land. This article analyses the theories and flawed reasoning of "responsible landgrabbing" advocates, and it examines the codes of conduct and guidelines attended to commercial land transactions.

The global financial crisis is prompting investors to seek new sources of profit. Many are buying cheap agricultural land in developing countries to make a profit from the soaring food prices. But privatization of land threatens small-scale farming and food security in the world's poor countries, as fertile land concentrates into the hands of a few private companies. Conventional economists argue that everyone will benefit if countries specialize in producing a few different food commodities and import the rest.

But without any protection of the domestic market, farmers in poorer countries must compete with commodities subsidized by richer countries. As over 29 countries have restricted food exports to ensure that their people have enough to eat, the import-dependent countries have even less access to food.

A group of food-importing countries is promoting an agreement in the Doha Development Round to prevent countries from unilaterally restricting exports. The World Food Summit declaration neglects to address the root causes of global food insecurity.

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