Nigeria partners Brazil through US$ 1.1b investment loan to boost agriculture

NIGERIA – The federal government of Nigeria has taken a US$1.1 billion loan from Brazil to boost agricultural sector and create 5 million jobs, reports Premium Times The programme under the name “The Green Imperative” was inaugurated by Vice President Yemi Osinbajo and the Brazilian Ambassador to Nigeria, Ricardo Guerra de Araujo. Osinbajo said that…

PepsiCo to invest US$5m by 2020 in India’s agricultural sector

INDIA – Food and beverages company, PepsiCo is planning to invest US$5 million in India to expand its agricultural programmes in India by 2020. According to ET Retail, the company currently works with 24,000 farmers in India to grow potato, rice, corn and citrus for its products such as Lays, Uncle Chipps, Kurkure snacks and…

Pure Oil invests US$9m to support soya farming in Zimbabwe

ZIMBABWE - Pure Oil Industries, the manufacturer of ZimGold cooking oil has invested US$9 million to support farmers growing soya beans, a critical raw material in the production of edible oils, reports the Herald. Zimbabwe which is facing shortage of cooking oil, has also limited availability of foreign exchange for importation of the major ingredients…

Algeria’s MY2018/19 grain production up by 74% to reach 6.05 MMT

ALGERIA - Algeria’s (Marketing Year) MY2018/19 cereals production reached 6.05 million metric tonnes, a 74.4% increase compared to last year’s 3.47MMT, according to figures from the Ministry of Agriculture (MoA), quoted in USDA’s September GAIN report. The Ministry attributed the production level to favourable climatic conditions as well as government support through loans, seeds, equipment…

Land O’Lakes receives funding for new agric and food safety projects in Africa, Asia

USA - Land O’Lakes Development International, an affiliate company of US based member-owned cooperative, Land O’Lakes has received funding from US non-profits to support new agricultural capacity building and food safety programs in Eastern Europe, Africa, Middle East. The funding from the U.S. Agency for International Development (USAID) and U.S. Department of Agriculture (USDA) will…

TransCorp to divest its interest in fruit juice concentrate maker Teragro

NIGERIA - Transnational Corporation of Nigeria (“TransCorp”), the diversified agribusiness firm is planning to divest its stake in its juice concentrate making subsidiary, Teragro Commodities Limited. Beverage Industry news revealed that the decision to divest its interest in the Benue-based agribusiness arm came following a long-term review of its operations in that business, which revealed a…

Government partners with deans of agriculture to establish incubator centres in varsities

NIGERIA- The Federal ministry of Agriculture in collaboration with the Association of Deans of Agriculture in Nigeria (ADAN) are establishing incubation centres across faculties of agriculture in Nigeria, reports the ANA. According to Chairperson of the Association, Professor Folusho David Abraham, the idea of establishing incubation centers in faculties of agriculture was initiated to provide…

Farmers lobby faults grains agency maize price as too low

ZAMBIA - The Zambia National Farmers Union has charged that the recently announced K65 (US$6.50) per 50kg market price offered by the Food Reserve Agency (FRA) is absurd and horrendously low ZNFU President Jervis Zimba has since called for untampered functioning of market conditions and open borders. “We urge government to maintain consistency in the export…

Zambia’s grains reserve agency sets maize buying price

ZAMBIA- The Food Reserve Agency (FRA) will buy a 50-kilogram bag of maize at 65 Kwacha (US$6.5) for the 2018 crop marketing season, a five kwacha (US 50 cents) increase from last year, reports Lusaka Times. FRA Board Chairman Joe Simachela says the price has been arrived at after a wide consultation with stakeholders among…

Kenya Budget 2018: Govt prioritizes agricultural and manufacturing agenda but consumers may have to pay more

KENYA - With a long term goal of ‘creating jobs, transforming lives and sharing prosperity’, the 2018 budget centred at the government’s Big 4 Agenda of growing the contribution of manufacturing GDP from 9% to 15%, but consumers may be required to pay more due to proposed amendments to the VAT Act 2013, considered to…