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Windmill, Australian outback
MIRA’s head of agriculture talks to Agri Investor about sustainable farming in the wake of covid-19, and provides an update on fund deployment and plans for a fourth fund.
Cattle
The asset manager has pushed back fundraising to Q3 2020 due to due diligence constraints but was able to pull forward the acquisition of a beef property.
Research has found that the level of grain-fed beef exports from Australia could increase to more than 500,000 tonnes by 2030, due to rising demand from an increasingly wealthy middle class in China.
The portfolio in NSW and Victoria will be sold as a whole or in parts and is expected to fetch more than A$150m.
This year’s conference saw more LPs than ever before, as agriculture continues to grow as an asset class.
Terra Firma-owned Consolidated Pastoral Company has offloaded the 246,000-hectare Ucharonidge Station, the eighth deal since its portfolio divestment began in 2018.
The latest annual update to the Australian Beef Sustainability Framework shows an industry trying to get on the front foot with consumers and investors.
Stone Axe continues expansion of its vertically-integrated business on Australia’s east coast as it prepares to produce its first Wagyu meat before the end of 2019.
NCREIF committee said it has ‘no concerns’ over contributor Blue Sky’s asset valuation process.
An investor group vocal about environmental issues says food companies and their financial backers should use an internal ‘shadow price’ to account for future costs applied to protein production.
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