Three Large American Multinationals Bought 17 Million Hectares of Ukrainian Agricultural Land
May 27, 2022
Three Large American Multinationals Bought 17 Million Hectares of Ukrainian Agricultural Land
By LauraAboli
Three large American multinationals bought 17 million hectares of Ukrainian agricultural land.
These are Cargill, Dupont and Monsanto (which is officially German-Australian but with American capital). Five percent of Ukrainian agricultural land was subsequently purchased by the Chinese state. For comparison, the whole of Italy has 16.7 million hectares of agricultural land.
In short, three American companies bought more useful agricultural land in Ukraine than the whole of Italy.
Among the main shareholders of these three companies are Vanguard, Blackrock, Blackstone.
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Who Really Benefits from the Creation of a Land Market in Ukraine?
By: Although Ukraine has large swaths of the most fertile farmland in the world, the wealth of its agriculture sector has long remained largely out of reach of the country’s farmers. In the country known as the “breadbasket of Europe,” agriculture has been dominated by oligarchs and multinational corporations since the privatization of state-owned land following the collapse of the Soviet Union in 1991. For the past thirty years, no government has been able to meaningfully challenge that status quo.
Will this change, now that a controversial law to create a land market entered into effect on July 1, 2021?
Whereas proponents claim(link is external) that a land market is necessary to attract the foreign investment that Ukrainian agriculture needs to achieve its full economic potential, many(link is external) Ukrainians(link is external) believe(link is external) that agriculture in Ukraine will only become more corrupt and controlled by powerful interests as a result of the new land reform law(link is external).
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Ukraine: An agricultural Colony of EU, Bayer and Monsanto
The soya curse: Is Ukraine facing the same fate as the Amazon?
12 October 2021
“GM seeds must have been smuggled into the country, because it is not permitted to grow genetically modified soya in Ukraine.” Volodymyr Onatskyi runs a small company selling manure and seeds to farmers in eastern Ukraine. He is increasingly worried about the pace with which big conglomerates are buying up fertile land in the country, depleting soils and polluting fresh water sources by their massive use of chemicals.
Villagers also believe the big farms are illegally planting genetically modified (GM) soya. “The big companies plant them anyway, and in the process contaminate the fields of conventional farmers. That’s what people around here suspect, at least. Because finding out what’s really going on is often very difficult in a country like Ukraine,” Onatskyi said.
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