25 December 2011

ARGENTINA / SAUDI ARABIA : Saudis Buy 30,000 Acres Of Farmland...Ahead Of Limit Law.


     Give it to the Saudis. They are wildly opportunistic capitalists.
     Saudi Arabia's biggest dairy got in...just under the wire of a land limit law...by buying farm company Fondomonte for $85mn...and securing future supplies of animal feed.
    Riyadh-based Almarai will soon control 12,000 hectares/30,000 acres of rich Argentine farmland...ahead of tough new limits to be voted on by the Senate there...that will limit foreign ownership of productive land...to 1,000 hectares/2,500 acres.
    Fondomonte grows corn, soybeans and other crops on 3 farms.