Foreign-Owned US Farmland Acres Rose Over 8% in 2022, According to USDA Report

Foreign Ownership of US Farmland Growing

The number of U.S. farm acres owned by foreign entities grew more than 8% in 2022, according to a government report released on Friday. This brings the total foreign-owned forest and farm land to 43.4 million acres, which accounts for just 3.4% of the country’s agricultural land.

National Security Concerns

The issue of who owns American farmland and whether foreign ownership of farmland presents a national security risk has been a topic of hot debate in Washington. Some members of Congress have even proposed limits on foreign farmland ownership.

Foreign Land Acquisitions

Foreign entities bought 3.4 million acres of U.S. farmland in 2022, with the biggest increases in Colorado, Alabama, and Michigan, as per the latest report on foreign agricultural landholdings by the U.S. Department of Agriculture.

Canada and China’s Holdings

Canada remains the largest foreign investor, accounting for 32% of the acres, with much of it being forest land in Maine. On the other hand, China’s holdings, a primary concern of lawmakers who want to restrict foreign ownership of farms, account for less than 1% of foreign-owned acres at 350,000, a slight decrease from 2021.

Increasing Pace of Acquisition

The pace of foreign farmland acquisitions has increased since 2017, averaging nearly 3 million acres annually, as reported by the USDA. The agency also announced plans to update how it collects such data to better understand the impact of foreign land holdings on rural communities and the exact location of foreign-owned acres.

Public Comments

“This process … will lead to more insightful reporting to Congress and the public,” said Under Secretary for Farm Production and Conservation Robert Bonnie in a statement. USDA is collecting public comment on its proposed updates through Feb. 16.