US, Malaysia lead worldwide 'land grabs'

Africa is the main target for ‘land grabs’ by foreign investors, according to a new report on large-scale land acquisitions around the world released yesterday.

"Africa is the place for cheap land deals and most investors are from western countries like the US and UK," said Michael Taylor of the International Land Coalition (ILC).

Globally some 45 million hectares of land have been or are about to be signed over to foreign investors in Africa, southern Asia and Latin America. That's equivalent to 60 percent of Europe's farmland.