Brazil may ease ban on land acquisition by foreigners
Move aimed at boosting investment in agriculture and forestry as economy contracts in commodity slump
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Brasilia
BRAZIL is looking at easing restrictions on the acquisition of land by foreigners to boost investment in agriculture and forestry as Latin America's biggest economy heads towards its worst year since 1992.
An effective prohibition on selling land to foreign individuals and companies has been in place since 2010 when Brazil's attorney-general published a narrow interpretation of a 1971 law meant to defend the country's sovereignty. Katia Abreu, Brazil's first female agriculture minister and outspoken defender of agribusiness, said on Monday that the restriction limits investment and needs to be revisited.
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