Food prices are already rising and the value of the best farmland in America in states like Iowa has risen from under $2,000 per acre in 2000 to almost $7,000 per acre in 2011. There was a 32 percent jump in farmland prices from 2010 to 2011 alone, according to the annual Farmland Value Survey sponsored by Iowa State University.
As China and other foreign holders of U.S. currency dump their dollars to buy farmland, the prices of farmland will be so high that the aging farm population will sell their land and go into retirement.
The younger farmers will not have enough money to purchase that land and the needed equipment, chemicals, seeds and fuel to operate that land, so much of this land will be held by speculators sitting idle while food prices continue to skyrocket.
Shareholders of Smithfield Foods approved a plan to sell the world’s largest pork producer and processor to a Chinese company.
The Smithfield, Va.-based company said more than 96 percent of the votes cast during a special meeting in Richmond on Tuesday were in favor of Shuanghui International Holdings Ltd.’s $34 per-share offer, or $4.72 billion in cash.
China is gobbling up land and soybeans to pay for its new meat consumption at home. Next stop – Brazil.
When the Chinese came looking for more soybeans here last year, they inquired about buying land — lots of it.
Officials in this farming area would not sell the hundreds of thousands of acres needed. Undeterred, the Chinese pursued a different strategy: providing credit to farmers and potentially tripling the soybeans grown here to feed chickens and hogs back in China.
“They need the soy more than anyone,” said Edimilson Santana, a farmer in the small town of Uruaçu. “This could be a new beginning for farmers here.”
The $7 billion agreement signed last month — to produce six million tons of soybeans a year — is one of several struck in recent weeks as China hurries to shore up its food security and offset its growing reliance on crops from the United States by pursuing vast tracts of Latin America’s agricultural heartland.
The prices of meat will skyrocket as more and more of our meat production is shipped to China and stores have to pay a higher price for what remains in America.
“We will keep at least 10% of the production of beef and pork for Americans and it will stay in America” Chancellor Wu Shing Do exclaimed smiling. “IT’s no different from America exporting it’s oil to China while having to import oil from the middle east. In the end a percentage of food from everywhere in the world will go to China. Importing food is not illegal America imports fruit from Mexico and Argentina. So China is simply securing trade routes to feed its hungry population”
Our nation is literally being starved to death by Obama’s reckless overspending and debt.