The Foreign Investment Review Board have released their 2020-21 annual report, detailing which countries spend the most on our agricultural assets.
The United States and Canada have continued their love affair with Australian agriculture, topping the table as the nation’s largest foreign investors in the 2020-21 financial year.
The United States sits at the top of the list with $874.7m of investment into the agriculture, fishing and forestry industry.
This stunning figure accounts for 14.6 per cent of the $5.8b of foreign investment into agriculture during the 2020-21 financial year.
Canada ranked second with $818.5m of investment, while China was third after investing $645.5m.
Investors from the UK ($518.8m), the Netherlands ($292.2m), Singapore ($186m) and South Korea ($177.7m) were among the other top spenders.
During 2020-21, foreign investment decreased from $7.3b in 2019-2020 to the $5.8b recorded, however approvals increased from 174 to 190.
The $5.8b of agriculture, fishing and forestry industry investment accounts for two per cent of the total $233b of foreign investment in Australia in 2020-21.
The reporting period saw a decline in the number of proposals, however, the total value of approved investments increased from $195.5 billion in 2019-20 to $233.0 billion in 2020-21.