Fast facts
Canada is No. 1 foreign owner of U.S. farmland
China has less than 1 percent of U.S. ag land
FORT SMITH — The director of the National Agricultural Law Center fielded questions about leases and foreign ownership of farmland in the United States during a presentation Thursday to the University of Arkansas System Board of Trustees.
Harrison Pittman provided an overview of the NALC to the board during the agriculture committee presentation. He was asked about the drivers behind foreign ownership of U.S. farmland.
Harrison Pittman, director of the National Agricultural Law Center, talks about the center's work before the U of Arkansas System Board of Trustees, during a meeting at UA-Fort Smith. (U of A System Division of Agriculture image by Beth Rumley)
“The underlying reason is that agriculture is a great investment,” Pittman said. “We lose sight of it in the United States sometimes but agriculture is probably the most mature industry in the country. It's a very sturdy infrastructure and stable and has Farm Bill and other policies behind it.”
Pittman said that “today our No. 1 investor is Canada. Roughly a third of the foreign ownership in the United States in agriculture comes from five countries: Canada, Germany, Italy, the UK, the Netherlands, and then the remaining third is split across 100 countries.
“China gets a lot of attention, but it makes up less than 1 percent of overall foreign ownership,” he said.
Pittman, when asked about leases in agriculture, noted that a rise in leases for solar farms and carbon storage that could reduce the number of acres in crop production.
“Economically, when you look at the numbers of what’s being offered, it’s very difficult for a lot of landowners to turn down that kind of money,” he said.
Before Pittman took questions, the trustees saw a video describing the NALC’s genesis and the many programs it does in terms of legal research, outreach for the agriculture and food industries as well as its mentoring programs for attorneys interested in this field of practice.
Col. Nathanial Todd, a trustee, said he appreciated that the NALC’s fellows program “looked like America” praising the way it reflected the country’s gender, social and economic diversity.
“This is the type of program that we need to see more of not only across the division but across the system,” said Trustee Ed Fryar.
“It seems like every few weeks I pick up a publication and you’ve got another article in there either written by you or about you. It can be testifying in Congress or to a trade association, whatever it might be,” said Morril Harriman, chairman of the Board of Trustees. “I really appreciate you taking your expertise and skill, and in a sense, being an ambassador for the University of Arkansas too. It’s a well-respected program.”
