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Chinese consumers’ growing appetite for meat is driving increased grain imports, which is great news for corn and soybean growers in Argentina and Brazil. Yet Chinese agriculture and investment companies’ interest in the pampas and cerrado are not universally welcome, and Buenos Aires and Brasilia have both promulgated laws restricting foreign land ownership. Argentina’s Law on Rural Lands, which passed the upper house of parliament by a vote of 62-1 in December 2011, caps foreign ownership at 15% of the country’s total arable land area. For reference, the UN Food and Agriculture Organization estimates that foreigners currently own approximately 10% of the country’s arable land. The new law also sets a ceiling of 1,000 hectares per individual plot of land owned by a foreign entity and calls on the government…