The move is reported to have caused consternation in the French farming community. The Chinese company, Hyongyang, which has purchased 1,700 hectares of land, is more usually associated with providing equipment for service stations. The purchase was thought to be a speculative diversification.
The purchase of agricultural land by investors in not new: many famous French wine chateaux have been bought by venture capitalists in recent years, and China's purchase of agricultural lands outside Europe has been widely reported. But as the online European news agency Euractiv points out, this is the first known case of a Chinese company buying arable farmland in France.
The French National Federation of Land Management and Rural Development Agencies (SAFER) commented that the 'financialisation' of agriculture, already a reality in other countries, was now taking hold in France.
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Sustain: Sustain The alliance for better food and farming advocates food and agriculture policies and practices that enhance the health and welfare of people and animals, improve the working and living environment, enrich society and culture and promote equity.
