Crops

Rural Funds Group will develop and lease a 1500 hectare almond orchard to Olam, the operations arm of the Singaporean agribusiness and the biggest almond grower in Australia.

New York growth equity firm Stripes Group invests $50m in California fruit farmer Sun Pacific’s fast-growing almond milk and natural drinks line Califia Farms.

The listed REIT will eventually branch out from the US, and is looking to buy processing facilities.

Gladstone has plans to transform the 850 acre land, which is currently used to grow wine grapes, into an almond orchard.

The financing was led by Middleland Capital, an agriculture-focused venture capital firm, with co-investors Mercury Fund, Prelude Ventures, Prolog Ventures, Alexandria Venture Investments, Cultivation Capital, and TechAccel.

Farmland incomes in the US are set to fall to their lowest level in nearly a decade, according to the US Department of Agriculture, reflecting bumper harvests and higher dairy and hog production.

Agricultural managers and consultants Brown & Co have been active in Central and Eastern Europe since 1998. Stephen Hall, who advises on investment strategy and sources opportunities, talks through the big players and the possible strategies in the eastern European country.

The REIT sold an additional 360,000 shares on top of an offering in July.

As losses are predicted to hit $2.7bn for California agri this year, investors see alarming patterns in this long-term drought.

The project, whose backers include ex-Shell chairman Sir Mark Moody-Stuart, aims to raise $28m over the next two years.