Rising global interest in farmland: can it yield sustainable and equitable benefits?
This new World Bank report says that volatility in food prices has been a key factor behind a rising tide of large scale farmland purchases in the developing world, which can pose social and environment risks, if not well managed.
The report, Rising Global Interest in Farmland, calls on developing countries to recognize and respect resource rights of their people, warning that countries with poor records of formally recognized land tenure attract strong investor interest – which raises real concerns about the ability to protect vulnerable people from losing their land. While highlighting benefits behind large scale land purchases, the report also calls for more transparency and monitoring of such purchases, saying in countries where demand for land has recently risen, limited screening of proposals, lack of due diligence and an air of secrecy has created an environment conducive to weak governance.