David Wighton, Business Editor
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It was only a matter of time before the wheel turned full circle. The Stock Exchange lists were once full of plantation companies – palm oil and rubber producers, such as Harrison & Crossfields or Sime Darby. These have disappeared or, in the latter case have become leading Malaysian enterprises.
The business of growing crops is again vital and BP is buying into the entire food chain, growing sugar cane and refining it into ethanol. Farming is risky: BP will be dependent on its agribusiness partners but we are living in a strange old world where control of resources is key. For more than a century, BP has been scouting the planet for reserves and it is reassuring that it can still do so. If plantations are the new oil wells, so be it.
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