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

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.