SLC, the world's first publicly listed company to focus exclusively on primary agricultural production, has gone on a spending spree over the past two weeks, buying up almost 45,000 acres of land in Brazil's frontier regions.

SLC, one of Brazil's largest land owners and based in the southern city of Porto Alegre, announced three separate purchases over the past two weeks.

The first acquisition was of 11,000 acres in Bahia state, adjacent to the company's Palmares farm. The company paid around $11.5 million for the area, or the equivalent of $1063 an acre.

The second acquisition, announced last week, was a 20,000 acre plot in the municipality of Santa Cruz do Xingu in Mato Grosso state. The area is mostly made up of native vegetation and was purchased for the purpose of compensating legal reserve requirements. SLC paid close to $2 million for the area, or the equivalent of $100 an acre.

The final piece of land, totaling nearly 14,000 acres in the state of Maranhao, is also for compulsory conservation purposes. The area cost $916,000, or $66/acre.

Brazilian law requires farmers to keep a 35 percent reserve area in savannah regions such as Mato Grosso and Maranhao, while in Bahia state the reserve requirement is 20 percent.

SLC planted 540,000 acres of cotton, soy and corn last season on 11 farms spread throughout seven states.