US farmers scramble to buy Brazil’s farmland
US farmers scramble to buy Brazil’s farmland
Foreigners are buying up prime agricultural land, but proposed legislation could curtail the booming trade.
Gabriel Elizondo Last Modified: 29 Sep 2012 09:52
Bonopolis, Brazil – Phil Corzine, a fourth-generation farmer from Illinois, is living the American dream, but it’s happening on dusty soy farms in the interior of Brazil, rather than the cornfields of Iowa.
Corzine, 53, owns or manages seven farms in Goias and Tocantins states in the agricultural heartland of Brazil.
He started farming in Brazil in 2004, and now his company, South American Soy, has 100 foreign investors from the US, is worth about $6m, and has started to turn a profit the past two years.
“I could have never dreamed I would be down here managing a farm in Brazil. It’s quite a leap from where I started,” Corzine told Al Jazeera, while watching tractors off in the distance churn up soil preparing the land for a soybean season.
For Corzine, the difficulties of navigating Brazil’s bureaucracy and the poor infrastructure are offset by cheap and plentiful farmland that is a fraction of the cost of the US…. (more).

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