Weekly Report - 17 May 2005

VENEZUELA | Vestey ranch takeover challenged in court. Agroflora, an affiliate of the British Vestey group, has filed a suit for the annulment of a 12 March ruling by INTI, the national land institute, declaring its El Charcote farm to be 'empty land belonging to the state, idle and unproductive'. The company says it has documents proving its uninterrupted ownership back to the purchase of El Charcote in 1920. It also notes that it is the biggest meat producer in Venezuela, accounting for 4% of total consumption. Land invasions which began in 2000 have spread to 90% of El Charcote's pastures, and this has reduced the yield per hectare from 133.23 kilos to 83 kilos a year - the latter figure, the company says, still 20% above 'ideal' averages.

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