Wednesday, 18 November 2009

UN set to regulate 'farmland grabs'

The United Nations has started drawing up a code of conduct to regulate overseas investment in farmland, but the voluntary rules will not be ready for at least a year.

The code is the first attempt to control the growing trend of so-called "farmland grab" deals, which involve rich countries such as Saudi Arabia and South Korea investing in overseas farming to boost their own food security.

The trend gained prominence after an attempt by South Korea's Daewoo Logistics to secure a large chunk of land in Madagascar contributed to the collapse of the African country's government.

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