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Investment funds have become voracious buyers of U.S. farmland, amassing over a million acres as they seek a hedge against inflation and aim to benefit from the growing global demand for food. The trend worries some U.S. lawmakers who fear corporate interest will make agricultural land unaffordable for the next generation of farmers.
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Lawmakers debated this year whether to curtail foreign farmland ownership, concerned that adversaries might buy land to exert political influence. The Senate included a provision to ban farmland purchases by China, Russia, Iran, and North Korea in its version of the National Defense Authorization Act, which has yet to be reconciled with the House version.
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