FG Warn Against Threat Of International Land Buyers

Opposition Party Fine Gael have warned that Ireland’s land is "not up for grabs" as international land buyers move in to buy up "large tracts" of Ireland's agricultural land.

Fine Gael Agriculture Spokesman Andrew Doyle warned of what he called the "new threat to the Irish family farm" from international buyers, who he says are taking over large areas of land around the world in the face of rising food prices.

The Fine Gael spokesman said large multi-nationals and even sovereign states were undertaking the buying of land around the world, and that he believed urgent action must be taken to protect Irish farms from large-scale investors, which could threaten the very foundation of Irish farming.

“Ever since food prices rocketed in 2008, countries like China, Korea and the Gulf states have joined pension funds and multi-national corporations in buying up large parcels of land around the world. They are motivated by increasingly scarce supplies of food and water, as well as the profit margin.

“New Zealand is now being targeted, with at least 50 farms under negotiations for take-over on both islands. I am concerned that Ireland is next in line.

According to the New Zealand Herald, Chinese Investors have been making large offers to New Zealand farmers for their land, prompting the country's Prime Minister John Key to ask land owners to "rent and don't sell".

Mr Doyle added that currently at least 70% of profits arising from agriculture remain in Ireland, unlike the bulk of profits generated by multi national companies. So Irish farming must be protected for the sake of our economic future.

“The best way to protect the family farm from predatory interests is by securing the single farm payment and the Common Agricultural Policy. These provide crucial support to the single owner/operator structure.

“It’s vital that Agriculture Minister Brendan Smith now acknowledges this very serious matter,” he said.

(DW/KMcA)