In 2022, the U.S. lost 1.9 million acres of farmland, according to the latest Farms and Lands in Farms report from the US. Department of Agriculture.
America had an estimated 2,002,700 farms totaling 893,400,000 acres in 2022, down from the 2,012,050 farms and 895,300,000 acres recorded in 2021.
One of the reasons behind this trend is urbanization. Cities and towns are expanding into previously rural areas. And that often involves the conversion of farmland into residential, commercial, or industrial land uses.
Developers see a big opportunity in building a row of houses on a piece of former farmland. Agriculture is a significant industry in the U.S. Losing farmland can lead to lower agricultural output and reduced food supply.
American consumers are already feeling the pain of higher food prices. According to the Labor Department’s latest inflation report, the U.S. consumer price index increased 5% in the last 12 months. The food index surged 8.5% over the past year.
China is buying farmland in America. China owns roughly 384,000 acres of U.S. agricultural land, according to a 2021 report from the Department of Agriculture.
Of that, 195,000 acres, worth almost $2 billion when purchased, are owned by 85 Chinese investors, which could be individuals, companies, or the government.
The other 189,000 acres were worth $235 million when purchased and are owned by 62 U.S. corporations with Chinese shareholders.
Then ownership jumped 30% from 2019 to 2020, from some 247,000 acres to roughly 352,000. U.S. companies with Chinese shareholders more than doubled their acreage that year, accounting for 102,000 acres of the growth.
China acquired another 32,000 U.S. agricultural acres in 2021 not as much as they scooped up in 2020, but 98% higher than their combined growth between 2015 and 2019.
Bill Gates owns 242,000 acres of farmland across the U.S. He says his organization promotes sustainable agriculture standards that prioritize the protection of crops, soil, and water resources.
Bill is not the only one buying land up, John Malone owns 2.2 million acres of ranches and forests. CNN founder Ted Turner has 2 million acres of ranch land across eight states. Even Amazon CEO Jeff Bezos is investing in land on a large scale, owning 420,000 acres, mainly in west Texas.
Proverbs 6:6 Go to the ant, thou sluggard; consider her ways, and be wise:
Proverbs 6:7 Which having no guide, overseer, or ruler,
Proverbs 6:8 Provideth her meat in the summer, and gathereth her food in the harvest.
Proverbs 6:9 How long wilt thou sleep, O sluggard? when wilt thou arise out of thy sleep?
Proverbs 6:10 Yet a little sleep, a little slumber, a little folding of the hands to sleep:
Proverbs 6:11 So shall thy poverty come as one that travelleth, and thy want as an armed man.
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