Journal
THIRD WORLD QUARTERLY
Volume 35, Issue 9, Pages 1709-1727Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/01436597.2014.971567
Keywords
land investment; private equity; global food system; the Philippines; financialisation of agriculture
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This paper has two objectives. First, it aims to analyse how transnational agricultural traders are positioning themselves in, and capitalising on, the financialisation of agriculture. Second, it seeks to position land investments in this process. This is done by situating Cargill - one of the largest agricultural trading companies in the world - into the transformation of agriculture in the world economy and by assessing its strategies of adaption through private equity-driven land investment in the Philippines. The article notes, following Burch and Lawrence, that the transforming position of agriculture is created by reshaping relationships in the agri-food supply chain and is based on the logic of finance capital. An example of this process from the Philippines is provided, where Cargill's private equity arm - Black River Asset Management- is investing in land through equity acquisitions of a Philippine company, Agrinurture, in a manner that allows the company to adapt to national and local dynamics. The evolving and deepening connection between finance and agriculture is presented first, followed by a discussion of how Cargill fits into this transition in the Philippine context.
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