South Korean firm to take over Madagascar farmlands

The island state of Madagascar has agreed to allow a South Korean company to take over huge tracts of its territory for farmland, in a deal showing the worldwide scramble for resources across Africa. The deal is a sign of the concern of many countries, particularly the intensely populated nations of the Far East, about ensuring the safety and reliability of food and other supplies in an increasingly competitive world. What the four Malagasy regional governments with which it has negotiated stand to gain are jobs, roads and experience of advanced agricultural techniques. It was hoping eventually to grow five million metric tons of maize a year and 500,000 tons of palm oil. (November 21, 2008)