No changes in store for ag foreign ownership laws, says Australian govt
The Australian Government has decided it will not be making any changes to foreign agriculture ownership laws, following a report that shows little has changed in the last three decades, website Farmonline.com.au reported.
The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) report showed that 11.3% of the country's agricultural land, or 44 million hectares, was directly foreign owned or had foreign investors.
ABARES also found only 1% of Australia's 135,648 businesses had foreign ownership, the story reported.
However, percentages varied in different parts of the country, with 23.5% of the Northern Territory's agricultural land held by foreign interests.
Photo: Citrus Australia