California Ag Land Foreign Purchases & Farm Sector Real Estate Debt
**California’s farmland attracts investment from all over the world, but as drought and climate change create anxiety over water and natural resources, state legislators are proposing new restrictions.
State Senator Melissa Hurtado has introduced a bill to bar foreign governments and government-controlled enterprises from purchasing ag land in California starting next year.
Hurtado says it’s needed to keep California farms from falling into the hands of foreign governments, which then control water and energy resources.
**New data from USDA’s Economic Research Service shows farm sector debt tied to real estate is expected to be at a record high of $375.9 billion in 2023.
Farm sector real estate debt has been increasing continuously since 2009 and is expected to reach 87.5% higher this year compared with 2009.
Real estate debt now far outpaces debt not secured by a mortgage.
**The National Oceanic and Atmospheric Administration released the 2022 Status of Stocks report, outlining marine fish stocks managed by NOAA.
In 2022, fisheries data revealed 93% of stocks are not subject to overfishing and 81% are not overfished, slight improvements over 2021.
NOAA administrator Rick Spinrad says, this report reveals the U.S. remains a global leader in maintaining the sustainable fisheries that drive the blue economy.