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Missouri keeps ban on foreign ownership; Smithfield not concerned
Story Date: 7/5/2013
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Source: MEATINGPLACE, 7/3/13
Missouri’s governor vetoed two bills that would have allowed foreign ownership of farmland in the state, an issue that has drawn attention in light of Smithfield Foods’ planned sale to a Chinese company.
The legislation vetoed by Missouri Gov. Jay Nixon, a Democrat, contained a provision that would have eliminated the state’s existing ban on foreign ownership of agricultural land. It would have capped foreign ownership at 1 percent.
Nixon said the amendment was inserted after it had already been rejected by a legislative committee. It was also opposed by leading agricultural groups in the state.
A Smithfield spokeswoman said the company and Shuanghui International identified the land ownership issue during their discussions. “It presents no obstacles to closing the proposed combination,” spokeswoman Keira Lombardo said in a statement emailed to Meatingplace.
“Smithfield’s operations do not fall under the provisions of many of the states, and only a few of them have applicable laws that need to be satisfied. We intend to consult and work closely with appropriate state officials on this matter as needed after the closing,” she said.
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