Foreign ownership of US farmland surges over 8% in 2022
Sourse: The DairyNews
The ownership of U.S. farmland by foreign entities saw a notable increase of over 8% in 2022, raising concerns and sparking discussions in Washington about the potential national security implications. According to a government report cited by Reuters, foreign-owned forest and farm land now amounts to 43.4 million acres, representing 3.4% of the country's agricultural land.
The debate over the ownership of American farmland has been a contentious issue, leading some members of Congress to propose limitations on foreign farmland ownership amid worries about national security risks.
In 2022, foreign entities acquired 3.4 million acres of U.S. farmland, with notable increases observed in Colorado, Alabama, and Michigan, according to the latest report on foreign agricultural landholdings by the U.S. Department of Agriculture (USDA). Canada remains the largest foreign investor, accounting for 32% of the total acres, primarily in forested areas in Maine.
While China's holdings have been a focal point for lawmakers concerned about foreign ownership, they constitute less than 1% of foreign-owned acres, totaling 350,000 acres—a slight decrease from 2021.
The USDA highlighted that the pace of foreign farmland acquisitions has been on the rise since 2017, averaging nearly 3 million acres annually. To better understand the impact of foreign land holdings on rural communities and to pinpoint the exact location of foreign-owned acres, the USDA announced plans to update its data collection methods. The proposed updates are open for public comment until February 16, aiming to provide more insightful reporting to Congress and the public, as stated by Under Secretary for Farm Production and Conservation Robert Bonnie.
In 2022, foreign entities acquired 3.4 million acres of U.S. farmland, with notable increases observed in Colorado, Alabama, and Michigan, according to the latest report on foreign agricultural landholdings by the U.S. Department of Agriculture (USDA). Canada remains the largest foreign investor, accounting for 32% of the total acres, primarily in forested areas in Maine.
While China's holdings have been a focal point for lawmakers concerned about foreign ownership, they constitute less than 1% of foreign-owned acres, totaling 350,000 acres—a slight decrease from 2021.
The USDA highlighted that the pace of foreign farmland acquisitions has been on the rise since 2017, averaging nearly 3 million acres annually. To better understand the impact of foreign land holdings on rural communities and to pinpoint the exact location of foreign-owned acres, the USDA announced plans to update its data collection methods. The proposed updates are open for public comment until February 16, aiming to provide more insightful reporting to Congress and the public, as stated by Under Secretary for Farm Production and Conservation Robert Bonnie.
