Thursday, March 28, 2024

Register doesn’t go far enough

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A register of foreign-owned farmland has been welcomed by Australian agricultural interests but they still want more information.
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Details such as land use and value should be included to get the most out of the federal register, they said.

Although the release of the long-awaited register – which showed 13.6% of Australian agricultural land was in foreign hands – was welcomed, farming lobbies and agribusiness experts said more information would improve the foreign ownership debate.

The report showed 52.1 million hectares of Australia’s 384.6m hectares of farmland was foreign-owned.

More than 52% of the foreign-owned land was in British hands followed by the United States.

China owned less than 0.5% with 1.5m hectares.

www.weeklytimesnow.com.au

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