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Anger over Alleged Land Law Liberalization

The National Association of Hungarian Farmers and Farm Cooperatives (Magosz) voiced disapproval on alleged news that the Ministry of Agriculture and Rural Development was planning on legislative action to legalize farmland acquisition by companies.

Lifting the ban would allow foreign investors to buy up large quantities of cheap agricultural land, President István Jakab pointed out.

The ministry denied the allegations, saying that the modification of the Land Act currently in the drafting phase deals with the situation of shareholders and the management of unclaimed land.

A decision to liberalize the farmland market would inflate prices immediately by 100%, according to Zoltán Fur, an analyst with farmland trading site www.foldbroker.hu

(BBJ 20.ix.04)

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