Commodities

The number of farmland transactions continued to decline in the first half of the year, which fell to its lowest level in the past 28 years.

The firm has already deployed approximately 40% of the vehicle and has had a A$1.5bn bid accepted by listed Australian agribusiness Costa Group.

Costa Group chairman Neil Chatfield said the deal is in the best interests of shareholders, despite Paine Schwartz having reduced its offer from A$1.6bn.

The Australian Taxation Office has published its annual report covering the state of its register of foreign ownership of Australian water – with Canadian investors still the largest holders of water entitlements.

The sale represents Cibus Capital’s first exit of a wholly owned portfolio company from the $322m Cibus Fund I.

The Australian government’s proposed intervention in Murray-Darling Basin water markets should be good news for investors in terms of values – but it may come with additional scrutiny should weather conditions get drier.

Aither’s annual Water Markets Report shows decline in the Aither Water Entitlement Index, a measure of entitlement values, for the first time in a decade.

Glencore’s merger with Bunge brings CPPIB and BCI into the evolving quartet at the heart of global ag trade, albeit in a less direct form than if it had succeeded in creating a true rival.

Proterra’s Fund V has already acquired two farms in the US and will primarily target assets in the Midwest, Pacific Northwest and southern states.

With timber imports resuming and discussions over barley tariffs showing promise, there is hope that broader trade barriers will be lifted and that capital inflows can resume.