The
issue of who owns American farmland, and whether foreign
ownership of farmland presents a national security risk, has
been hotly discussed in Washington, and some members of Congress
have proposed limits on foreign farmland ownership.
Foreign entities bought 3.4 million acres of U.S. farmland in
2022, with the biggest increases in Colorado, Alabama and
Michigan, said the latest report on foreign agricultural
landholdings by the U.S. Department of Agriculture.
Canada remains the largest foreign investor, accounting for 32%
of the acres, much of which are forest in Maine.
China's holdings, a primary concern of lawmakers who want to
restrict foreign ownership of farms, account for less than 1% of
foreign-owned acres at 350,000, a slight decrease from 2021.
The pace of foreign farmland acquisitions has increased since
2017, averaging nearly 3 million acres annually, USDA said.
USDA also said on Friday that it plans to update how it collects
such data to better understand the impact of foreign land
holdings on rural communities and the exact location of
foreign-owned acres.
"This process ... will lead to more insightful reporting to
Congress and the public," said Under Secretary for Farm
Production and Conservation Robert Bonnie in a statement.
USDA is collecting public comment on its proposed updates
through Feb. 16.
(Reporting by Leah Douglas; Editing by Cynthia Osterman)
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