Gladstone Land anticipates minimal impact from trade tariffs
"As many of our investors know, Gladstone Land has primarily purchased farms focused on high-value, perishable crops that are produced and consumed domestically. Insulating our tenant farmers, and therefore our shareholders, from global supply, currency, and tariff risks continues to be at the core of our long-term strategy,” said David Gladstone, President and CEO of Gladstone Land.
"China already had tariffs in place on many farm products that are sold by U.S. farmers to buyers in China, and this new round of tariffs is an increase to those existing tariffs. Gladstone Land’s most significant exposure to the newly-increased tariffs is with our nut and grain farms. Fortunately, global demand for almonds and pistachios continues to increase, and supplies remain tight. California continues to be the number one growing region in the world for nuts, and those nuts are exported throughout the globe. Therefore, we expect only a very limited impact to our nut farmers. As for any exposure to the announced soybean tariff, our grain farms continue to be a very small percentage of our total farmland holdings, and our tenants on those farms continuously rotate between commodity crops (e.g., corn, cotton, soybeans, and wheat) to adjust to changes in the market.”
“We look forward to continuing to build and diversify the types of farms that we own and will be sensitive to the tariffs each farmer has to navigate through. Our current list of farms we are trying to buy remains healthy. We are expecting the trade barriers implemented by China on certain crops being grown by American farmers to be reduced dramatically in the future as the U.S. puts up its own tariffs to punish countries that have implemented tariffs against our producers."
Owners or brokers who have farmland for sale in the U.S. should contact:
Eastern U.S. — Bill Frisbie at (703) 287-5839 or bill.f@gladstoneland.com
Western U.S. — Bill Reiman at (805) 263-4778 or bill.r@gladstoneland.com
Midwest U.S. — Bill Hughes at (618) 606-2887 or bill.h@gladstoneland.com
For stockholder information on Gladstone Land, call (703) 287-5893. For Investor Relations inquiries related to any of the monthly dividend-paying Gladstone funds, please visit www.Gladstone.com.
For more information:
Gladstone Land
Tel.: +1 703-287-5893
Website: gladstonefarms.com