See Oz (or what's left of it) before it's sold.

Fred! Thats probably not too far from the truth!! Michael

Its an emotive issue. But from a Crikey article:

"ABS data shows 1% of agricultural business are partly or wholly foreign-owned and 11.3% of agricultural land. The biggest investors, perhaps reflecting the much higher $1.062 billion thresholds for approval, were US companies, followed by the UK. China wasn’t even in the picture."

Have heard it said that across history China has not fought wars to gain territory, but gets to influence territory via trade. Maybe that is what is happening with this sale of Cubbie Station. I wonder how cooperative the Chinese owners will be over water allocations. Also note that the Chinese have to sell down their holding to 51% within 3 years.

Cheers,

Val.

There has always been a large presence of foreign ownership in Australian agricultural and pastoral properties. Look at the past vast holdings of companies like the Vestey Group, British Tobacco etc they were responsible for opening up vast tracts of land through NT and Qld.

Bundaberg Sugar is owned by a Belgium Company and don't forget Anna sold FPQ to Hudsons a US managed group.

What does worry me is the land being bought by foreign companies for direct export food production where the product is not sold or marketed within Australia, in many of these cases very little is being added to the Australian economy with direct imports of machinery, fertilizers and in some cases labor under the 457 visa programs.

Let's not forget for every buyer there is also a seller. I remember all the angst when the Japanese were buying up big in QLD in the 80's. The sellers probably all went and bought a great big penthouse on the Gold coast to retire in.
We have had foreign owners here for at least 200 years+.