The cheapest agricultural land in the world does not include India. According to Business Research Company, the largest agricultural market is in Asia-Pacific countries, North America was the second-largest, and is estimated to grow at a CAGR of 10.37% reaching $15.79 trillion by 2030.
Here's a look at the top 10 cheapest agricultural lands in the world or the best country to buy agricultural land.
Cheapest Agricultural Lands in the World
1. Cameroon
Price per hectare - $550
Foreign investors limit - $200,000
Cameroon is the third largest of plantain with 3.9 million and taro with 1.9 million ton. It is the seventh largest producer of palm oil with 2.6 million tons and yam with 674 thousand tons. Moreover, it is the fifth largest producer of cocoa with 307 thousand tons of production.
2. Nigeria
Price per hectare - $700
Foreign investors limit - 500 hectares.
Nigeria is a major producer of maize, cassava, guinea corn, and yam. At least 70% of the people are engaged in crop farming.
Nigeria is the largest producer of several food items including, cassava (59.6 million tons), yam (47.5 million tons), taro (3.3 million tons), cowpea (2.6 million tons), sorghum (6.8 million tons). It is the second-largest producer of okra with 2 million tons.
It is the fourth largest producer of millet (2.2 million tons), palm oil (7.8 million), sesame seed (572 thousand tons ), cocoa (332 thousand tons)
ALSO READ: Cheapest Agricultural Lands in the World
3. North Sweden
Price per hectare: $2764
Foreign investors limit: Restricted
The commonly grown crops in southern Sweden are wheat, rapeseed and other oil plants, and sugar beet, while barley and oat are more important further north.
4. South Africa
Price per hectare: $2,900
Foreign investors limit - Restricted
South Africa is the fourth largest producer of chicory roots and grapefruit, while the fifth largest of cereals. It is the seventh largest producer of green maize and maize and ninth of castor oil seed and pears and while tenth of sisal and the fibre crops.
5. Uruguay
Price per hectare: $3,342
Foreign investors limit - Unlimited
Agriculture contributes 10 per cent of the country's GDP, with exporters like Brazil, Canada and New Zealand. Uruguay is a member of the Cairns Group of exporters of agricultural products. While the country is par with other countries in terms of modern equipment, labour, its products are "natural" or "ecological."
6. Estonia
Price per hectare: $3,656
Foreign investors limit: Legal formalities
According to the 1993 Estonian State Statistics Board Survey, at least 80 per cent of potatoes consumed by the locals are privately grown or were received from friends or relatives. Overall, 20 per cent of Estonians consume food from private production or from friends and relatives.
7. Latvia
Price per hectare: $4,144
Foreign investors limit: Latvian B2 level
In 1990, much of the agricultural land of Latvia was converted into forest. The country has 1.7 million hectares of arable land, about one-half was used for growing fodder crops: more than 40 percent for grain, 5 percent for potatoes, and approximately 2 percent for flax and sugar beets together.
8. Lithuania
Price per hectare: $4,183
Foreign investors limit: Restricted
Agriculture has been one of the most important occupations for many centuries in Lithuania. In 2001 the main crops were potatoes, 1,054,000 tons; barley, 776,200 tons; wheat, 1,076,300 tons; rye, 231,100 tons; legumes, 52,200 tons, and rapeseed, 64,800 tons.
9. Brazil
Price per hectare: $4,183
Foreign investors limit: 25% of the total municipal area
Brazil was popularly known as 'Brazil, a breadbasket of the world'. It was the largest producer of several crops, including sugarcane (746.8 million tons), orange (16.7 million tons), coffee (3.5 million tons), guaraná (3.3 million tons), Brazil nuts (36 thousand tons).
It is the second largest producer of soy (117.8 million tons), papaya (1 million tons), tobacco (762 thousand tons), third largest producer of maize (82.2 million tons), banana (6.7 million tons), beans (2.9 million tons), pineapple (2.6 million tons), 4th largest producer of cotton (4.9 million tons), watermelon (2.3 million tons), 5th largest world producer of cassava (17.6 million tons), 9th largest world producer of rice (11.7 million tons)
10. Bulgaria
Price per hectare: $4,399
Foreign investors limit: Restricted
Bulgaria is the largest producer of lavender and rose oil.
