Friday, October 23, 2020

Firm Tackles Soybean Shortage

The Director/C.E.O of Olam in Africa and Middle East, Mr. Venkataramani Srivathsan, said they are partnering with IITA in Ibadan to produce high-yielding soybean seeds.

He said although Nigeria was of the largest producers of soybean, its 500,000 metric tonnes of soybean was very small and was in short supply to feed producing companies; the reason being that before now there was limited incentive to grow soybean and inadequate market liquidity.

Mr. Srivathsan said the aim of the partnership is to increase soybean production in Nigeria from 500,000 metric tonnes to 2,000,000 in five to seven years.

He added that as from next year, they will be offering soybean seeds to farmers to boost their production and that his company currently owns 220 hectares used for trial soybean seed.

FAO Food Price Index Declines Amid Cereals Boom

According to Srivathsan, in Kwara State, the new fish feed manufacturing facility is expected to boost supply to help meet rising demand for fish.

This supply is in excess of two million metrics yearly. He said that fish farming was crucial to bridging the gap created by the high supply and that it can further rake in the excess of $1billion.

The company will also be sourcing raw materials from more than 300,000 Nigerian farmers and they were working towards identifying NGO’s, private sector partners and government institutions who would help develop agronomy programmes, farmer support, and training.

 

More news

Global Cassava Coalition Supports Africa’s Cassava Transformation

Dr. Claude Fauquet, Director of the Global Cassava Partnership for the 21st Century (GCP21) during a press conference hosted by Veronique Brumeaux, the French...

$95 Million Ruga Settlement Project Unveiled in Kano

  The Kano State governor, Abdullahi Umar Ganduje has inaugurated Kano State Agro-Pastoral Development Programme (KSADP), a N36 billion flagship project designed to contribute to...

NFGCS Launches Hydroponic Program for Feeding Cattle

The Nigeria Farmers Group and Cooperative Society (NFGCS), has launched a hydroponic fodder program to ensure improved feeding for cattle, eradicate open...

CAFFAN Supports State Governments with COVID-19 Palliatives

The Catfish and Allied Fish Farmers Association of Nigeria (CAFFAN), has distributed smoked catfish as a palliatives measure in support of government’s efforts to...

Strike Continues Over FG’s Inaction

Joint Unions of Research Institutes and Allied Institutions commenced an indefinite strike action on November 14, 2017 following the Federal Government’s nonchalant attitude towards...

Harvestfield Begins Farmer Exposition as AFLASAFE goes Commercial

Crop protection and treatment product, AFLASAFE, developed by the International Institute of Tropical Agriculture (IITA), is going commercial following the successes recorded on full...

KSADP to Spend N200m on Irrigation Scheme

The Kano State Agro- Pastoral Development Project has designated approximately N200 million for upgrades to Watari Dam in Bagwai Local Government Area aimed at...

A Glimpse at Gezawa Agro-Commodity Market

Established as an agro-commodity exchange market meant to make life easier for farmers, the Gezawa Commodity Market was first devised by a number of...

Firm Persists on Infrastructural Development to Tackle Food Losses

Roland Omorosemi, Chief Executive Officer,‎ Dreamfield Farms Limited explained how more than half of farm produces have been lost by Nigerian farmers to lack...

Ekiti Govt Assures Agricultural Investors of Farmlands

The Ekiti State government has guaranteed an allocation of farmlands across its 16 local government areas to investors in the agricultural sector to allow...

Elumelu Calls on African Leaders to Combat Unemployment

African leaders and development institutions have been urged to help address the deepening job and employment crisis bedeviling the continent. This can be achieved...

Related news

IFAD Partners NDDC on USD129m Job Creation Agric Project

International Fund for Agricultural Development (IFAD) has entered into a USD 129.17 million partnership with the Niger Delta Development Commission (NDDC), Livelihood Improvement Family...

Tiger at a New York Zoo Tests Positive for Coronavirus

The United States Department of Agriculture’s (USDA) National Veterinary Services Laboratories has confirmed that a 4-year-old female Malayan tiger at the Bronx Zoo in...

Emir of Kano Advises Sterling Bank to Stay Focused on Agric

The Emir of Kano, Muhammadu Sanusi II, has called upon Sterling Bank to focus on agricultural financing in keeping up with the Federal Government’s...

Farmers Decry Government’s Neglect Of Agricultural Sector

Stakeholders in agriculture have faulted the government for ignoring the primal place of agriculture in the economic pursuits of the nation, as it remains...