South American Real Estate News
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China’s largest farming company and Argentina’s Cresud SA linked a joint venture to buy South American farmland

China’s largest farming company, Heilongjiang Beidahuang Nongken Group, inked a joint venture with Argentina’s Cresud SA to buy land and farm soybeans. Cresud is one of Argentina’s top agriculture firms with control over more than 1 million hectares (2.47 million acres) of farmland that produce grain, cattle and milk. Heilongjiang Beidahuang’s chairman, Sui Fengfu, told Dow Jones Newswires in March that the company plans to buy 200,000 hectares of overseas farmland this year, and that…

The South American agricultural landscape

June 2011 | by Simon Adamson       An arable crop of over a quarter of a billion tonnes is hard to imagine, but that’s what Argentina and Brazil are harvesting right now. Favorable weather, yields and prices have made many South American farmers winners again this season, but it also means shifting goalposts for agribusiness. Prices for arable land have jumped; in Uruguay they’ve risen 800% in the past decade. Soybean rules the landscape; it’s the crop of choice wherever it can be grown…

Brazil registers the first legal actions against foreign farmland acquisition ban

The change in the rules for farmland acquisition by foreigners is causing a commotion in Brazil agriculture industry. Vendors and buyers in rural areas are starting to litigate to see who will pay for the restriction prejudices derived from a new inter pretation of law by the Union´s Attorney-General (AGU).   The ban – which took the form of a reinterpretation of a 1971 law – was a response to reports that Middle Eastern sovereign funds and Chinese state-owned companies were attempting to buy large…

Uruguay sees China as a leading trade and investment partner of all Mercosur countries

Uruguay has kept good relations with Beijing since the two countries forged diplomatic ties in 1988, said Uruguayan Foreign Affairs minister Luis Almagro, a former ambassador to China from 2007-2009. Almagro made the statement as Chinese Vice-President Xi Jinping begun his official visit to Uruguay. The Uruguayan official revealed that the administration of President Jose Mujica would support an initiative for the regional Mercosur customs union to reach a trade agreement with China, “although complicated…

Uruguay discussing new taxation on land holdings

President Jose Mujica last Monday during the cabinet meeting presented a fiscal proposal, elaborated with the head of the Planning Office which considers three main brackets: over 2.000 hectares, 8 US dollars per hectare; over 5.000 hectares, 12 USD per hectare and over 10.000 hectares, 16 USD. However Vice-president Danilo Astori, Economy Minister Fernando Lorenzo, Agriculture minister Tabare Aguerre and Public Works and Transport minister Enrique Pintado are proposing a tax linked to the production and profitability…

Top 10 hedge funds business horizons

  The top 10 hedge funds made $28bn for clients in the second half of last year, $2bn more than the net profits of Goldman Sachs, JPMorgan, Citigroup, Morgan Stanley, Barclays and HSBC combined, according to new data.   Even the biggest of the hedge funds have only a few hundred employees, while the six banks employ 1m between them. According to the data, the top 10 funds have earned a total of $182bn for investors since they were founded, with George Soros making $35bn for clients – after all fees…

Argentine group El Tejar became the biggest soy farmer in Mato Grosso´s region

Argentina-based Ag company El Tejar harvested approximately 680,000 metric tons (25 million bushels) of soybeans in Mato Grosso -Brazil’s main producing state- during the 2010-11 season, ending the decade-long reign of Erai Maggi, whose Bom Futuro group produced 576,000 tons (21 million bushels), according to data compiled by the Mato Grosso Soybean and Corn Producers Association (APROSOJA). El Tejar has operated in Brazil since 2003, largely adopting the Argentine model of renting land. The company has…