So the Palm Beach Post is reporting today that "U.S. Sugar Corp. this week paid $150 million for land owned by another cane grower," A. Duda & Sons Inc.'s approximately 14,000 acres in the unincorporated areas in the western part of the county.
Of course U.S. Sugar just sold 26,800 acres to the state for $197 million in 2010.
Anybody have any idea what's going on here? I mean, apart from the obvious. The Duda land must be richer and hold deeper pockets of muck, making it very attractive for cane farming.
Meanwhile, the U.S. Sugar land the state bought for $197 million, ostensibly for restoration? U.S. Sugar gets to farm it for sugar cane indefinitely.
The Duda land just bought by U.S. Sugar for $150 million? Duda, which grows a lot of celery, gets to continue farming vegetables on it.