(Feb 19, 2012, The Hindu)--From the beginning of 2004, Ethiopia has witnessed a flurry of investments from all parts of the world into their farmlands.Come 2011, land deals are already in place for 5,28,000 hectares, of which according to the Government of Ethiopia, 3,07,000 hectares of land have already been transferred to both foreign and domestic investors.
With the spur in foreign investments both in infrastructure and land banks, and a growing domestic economy, Ethiopia is today amongst one of the fastest growing economies in Africa.
Encouraged by the attractive investment climate, Indian companies have committed investment amounting to $4.4 billion out of which 40 per cent is for commercial agriculture.
Investors ranging from Karuturi Global to conglomerates such as Emami, Shapoorji Pallonji & Co. etc. have acquired huge fertile tracts of land for initiating large scale commercial farming.
Large-scale commercial farming
Ethiopia is not a one off case. Since the beginning of 2000, there has been a rising global interest in farmlands.
This has been fuelled by the volatility in commodity prices globally, growing human and environmental pressures, and worries about food security due to the rising demand for biofuels. Read more from The Hindu Business »
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