Australia’s government will not allow sale of the nation’s largest cattle operation S. Kidman and Co. to a foreign buyer, saying it will be against the national interest. The privately own company said in April it was looking to sell its cattle operations, which hold an average herd of 185,000 head of cattle, in an effort to raise cash for other businesses…Full Article: Xinhua Nov 2015

Key Points

  • By 2050, according to the Business Council of Australia, the country’s agriculture sector needs up to AUD 1 trillion (~US$723 billion) in foreign investments.
  • In March 2015, Australia passed a law requiring Foreign Investment Review Board (FIRB) approval for the sale of agricultural land valued over AUD 15 million (~US$10.8 million).
  • According to Australia’s Treasurer, half of Kidman’s Anna Creek pastoral lease lies within the country’s Woomera Prohibited Area (WPA) testing range in South Australia.

ChinaAg Comment

  • From 2014 to 2019, according to a commodity analyst, China’s beef production deficit is expected to increase from 380,000 MTs to 590,000 MTs.

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