CPPIB plans farmland retreat: Reuters
Canada Pension Plan Investment Board (CPPIB) has decided against making further investments in farmland and is open to selling its existing portfolio after reviewing the operations, sources told Reuters. CPPIB began buying farmland in North America in 2012 and has since purchased about 120,000 acres in the United States and a similar amount in Canada. The pension fund bought 115,000 acres of Saskatchewan farmland from Assiniboia Farmland LP in 2013 for $128 million and had intended to invest another $500 million in Canadian farmland over a five-year period. However, its plans met with a backlash from some local farmers who believed they would be squeezed out of buying land themselves and feared rising rents.
26 April 2017•3 mins read
