Foreign owned and grown food on Australian soil

Overseas countries are looking to buy Australian farms to solve their food security problems.

Greg Mason from Queensland Department of Primary Industries says some countries are running out of water to grow food so investors are looking for greener pastures.

He recently hosted a group of Chinese investors who were interested in seeing farms similar to theirs in terms of climate and crops.

Keith De Lacy from the large irrigation property Cubby Station also heads up a property investment company.

He supports foreign investment because he says Australia needs the capital but resources need to be used more wisely.

A property adviser who works with an Arab state says his client is interested in buying farms in other countries that are culturally compatible; however Australia is in their sights.

The client wants to spend over one billion dollars on properties to grow grain, fruit, vegetables and live sheep.

Chris Evans from Rural Management Partners says his client prefers to own and grow the food rather than contract Australian growers because it wants control over the food supply.

In this report:
Greg Mason, Queensland Department of Primary Industries and Fisheries
Keith De Lacy, Chairman, Trinity
Chris Evans, Managing Director, Rural Management Partners

Source: http://www.abc.net.au/rural/tas/content/2009/06/s2608502.htm