Bill Limits Foreign Land Ownership of Georgia Agland and Agricultural Lending Increases
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**A bill that would limit what Georgia land could be owned by foreign entities has been introduced in the Georgia General Assembly.
www.gfb.org reports, SB 132 passed the Senate by a 35-20 vote and awaits consideration in the Georgia House.
The bill seeks to limit the foreign ownership of ag land by foreign adversaries or entities from CountrIES of Particular Concern.
The bill would also limit ownership of land near U.S. military installations.
www.gfb.org/media-and-publications/news.cms/2023/1451/georgia-senate-passes-limit-on-foreign-land-ownership
**Despite numerous headwinds in 2022, agricultural lending by U.S. farm banks increased 8.1% in 2022.
The American Bankers Association’s annual Farm Bank Performance Report says the change is due to a 9.7% increase in outstanding loans secured by farmland and a 5.9% increase in agricultural and production loans.
The bankers say the ag sector will face continued challenges in 2023 due to monetary policy actions targeting persistent inflation and continuing geopolitical uncertainty.
**Farmers Business Network released its 2023 Ag Chemical Price Transparency Report which highlights the extreme price variation facing farmers.
The report collected information from 37 states and accounts for over 800 insecticides, fungicides, and herbicides.
FBN Chief economist Kevin McNew says, “Providing more transparency enables producers to make more informed buying decisions to drive ROI from every input dollar.”
Across 236 different chemical products, there was a 15% average variance between the average list price of a product and the price farmers actually paid for it.
