June 11, 2011

Hedge Funds Create Volatility in Global Food Supply with Land Grabs Across Africa

Financial backers – including U.S universities and pension funds – are lured by high returns and turn a blind eye to theft of land, displacement of people

Oakland, CA, June 8, 2011 – Hedge funds and other foreign speculators are increasing price volatility and supply insecurity in the global food system, according to a series of investigative reports released today by the Oakland Institute. The reports are based on the actual materials from these land deals and include investigation of investors, purchase contracts, business plans and maps never released before now.

The “Understanding Land Investment Deals in Africa” reports also reveal that these largely unregulated land purchases are resulting in virtually none of the promised benefits for native populations, but instead are forcing millions of small farmers off ancestral lands and small, local food farms in order to make room for export commodities, including biofuels and cut flowers.
Read full release here

These reports, as well as briefs on other aspects of land grabs, are available at http://media.oaklandinstitute.org.

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The Oakland Institute is an independent policy think tank whose mission is to increase public participation and promote fair debate on critical social, economic, and environmental issues (www.oaklandinstitute.org).