The “crown jewels” of the historic Garst family farmland in Iowa sold today for a grand total of $19,262,308 at auction.
As Peoples Company auctioneer Jared Chambers says, “It doesn’t take long to sell good farmland.”
Out of the 31 sealed bids submitted by deadline on August 6, 27 bidders attended the live, absolute auction in downtown Coon Rapids. Eight tracts of land totaling 1,998.04 acres were available across Carroll, Audubon, Greene, and Guthrie Counties.
Five different bidders, all local farmers, purchased the tracts at an average of $9,641 per acre.
Here is the breakdown:
Of these acres, 46.38 are enrolled in a Conservation Reserve Program.
Tracts 1-7, mostly tillable farm land, sold at an average of $11,461 per acre.
All acres are placed under a soil conservation easement, the first of its kind, that will ensure certain sustainable agriculture practices be used on the farms and that conservation measures and structures currently utilized on the farms be maintained.
This easement aligns with values long held by the Garst family, who have been strong advocates of conservation and sustainability.
The practices include no-till farming, annual cover crop plantings post-harvest with the basis of having continuous, living roots in the soil, and maintenance of existing terraces and waterways.
“What is unique with this easement is that it’s a continuation of how the Garst family has been managing these farms for years,” Steve Bruere, president of Peoples Company says. “They want to preserve those farming practices that continue to build on the soil health foundation they’ve created.”
Conservation easements are permanent agreements made between landowners and conservation organizations that allow a landowner to maintain ownership and control of the land while voluntarily giving up rights to actions that could damage the land.
This permanent agreement applies to any future landowner as well, creating lasting protection. The conservation organization that holds the easement ensures current and future owners continue to meet the conservation vision of the landowners who established the conservation easement.
The Garst family donated the easements to Whiterock Conservancy for the organization to monitor and provide guidance on the conservation values upheld by the easement. Whiterock Conservancy’s Land Manager will work with the new landowners as technology and farming practices continue to evolve over time.
US$19 Millions for 1900 acres equal to
US$10,000 per acre
1 USD = Rm4.20
So Cost of 1 Acre in Iowa is Rm42,000
These lands can only use to plant Corn & Soybean
In Indonesia & Malaysia the weather is perpetual summer with rainfall & sunshine
So Palm oil is ideal
Palm oil FFB(Fresh fruit bunches) harvested every 2 weeks & up to 7 times more productive than corn or soybean in land use
Created by calvintaneng | Aug 30, 2024
Created by calvintaneng | Aug 30, 2024
Created by calvintaneng | Aug 29, 2024
Created by calvintaneng | Aug 28, 2024
Created by calvintaneng | Aug 23, 2024
Created by calvintaneng | Aug 22, 2024
CURRRENTLY MALAYSIA PALM OIL STOCKS BOOK VALUE ARE STILL RELATIVELY CHEAP
EG. THPLANT HAS OVER 240,000 ACRES OF PLANTATION LANDS WITH PALM OIL, TEAK & FOREST FOR WOOD
COST FROM ONLY RM5,000 TO RM10,000 AN ACRE
IF REVALUED THEY SHOULD ALSO BE UP 100% OR MORE IN CURRENT VALUE
2021-08-18 08:58
calvintaneng
From historic average price of all USA farmlands they were about USA4,000 to USD4,500 per acre
NOW WE SEE FARMERS BID USD10,000 (RM42,000) AN ACRE MEANS FARMLAND PRICES HAVE JUMPED UP BY MORE THAN 100%
See
https://www.acretrader.com/resources/farmland-values/farmland-prices
NO WONDER KLK QUICKLY SNAPPED UP THE SHARES OF IJMPLANT
NEXT
FELDA GOBBLING UP FGV
IOI PREPARES OVER RM2 BILLIONS FOR M&A
MORE PALM OIL COMPANIES WILL LOOK TO ACQUIRE THEIR LAND BANKS
2021-08-18 08:52