Rising Global Interest in Farmland : Can it Yield Sustainable and Equitable Benefits?

Abstract

Interest in farmland is rising. And,
 given commodity price volatility, growing human and
 environmental pressures, and worries about food security,
 this interest will increase, especially in the developing
 world. One of the highest development priorities in the
 world must be to improve smallholder agricultural
 productivity, especially in Africa. Smallholder productivity
 is essential for reducing poverty and hunger, and more and
 better investment in agricultural technology,
 infrastructure, and market access for poor farmers is
 urgently needed. When done right, larger-scale farming
 systems can also have a place as one of many tools to
 promote sustainable agricultural and rural development, and
 can directly support smallholder productivity, for example,
 throughout grower programs. However, recent press and other
 reports about actual or proposed large farmland acquisition
 by big investors have raised serious concerns about the
 danger of neglecting local rights and other problems. They
 have also raised questions about the extent to which such
 transactions can provide long-term benefits to local
 populations and contribute to poverty reduction and
 sustainable development. Although these reports are
 worrying, the lack of reliable information has made it
 difficult to understand what has been actually happening.
 Against this backdrop, the World Bank, under the leadership
 of Managing Director Ngozi Okonjo-Iweala, along with other
 development partners, has highlighted the need for good
 empirical evidence to inform decision makers, especially in
 developing countries.