Ethiopian Farmland for Rent

BAKO, Ethiopia - In recent months, the Ethiopian government began marketing abroad one of the hottest commodities in an increasingly crowded and hungry world: farmland.

“Why Attractive?’’ reads one glossy poster with photos of green fields and a map outlining swaths of the country available at bargain-basement prices. “Vast, fertile, irrigable land at low rent. Abundant water resources. Cheap labor. Warmest hospitality.’’

This impoverished and chronically food-insecure Horn of Africa nation is rapidly becoming one of the world’s leading destinations for the booming business of land leasing, by which relatively rich countries and investment firms are securing 40- to 99-year contracts to farm vast tracts of land.

Governments across Southeast Asia, Latin America, and especially Africa are seizing the chance to attract this new breed of investors, wining and dining executives, creating land-leasing agencies and land catalogs to showcase their offerings of earth. In Africa alone, experts estimate that about 50 million acres - roughly the size of Nebraska - have been leased in the past two years.

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