New Food research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 03/07/2013 -- BMI View: According to the Ministry of Agriculture, Mozambique still requires investment of US$3.1bn between 2013 and 2017 to ensure that the country is self-sufficient in food. We hold a positive view on the agribusiness sector of the country, as Mozambique has the potential feed itself and is able to tap abundant and largely unexploited land and water resources. Of the utmost importance is boosting agricultural productivity by improving irrigation, and introducing technology to small-scale farmers. The government has also highlighted the need to improve food and nutritional safety and facilitate more agricultural reform. Our optimism about Mozambique's agriculture industry largely hinges on the government's continued support for the sector.
- Sugar production growth to 2016/17: 52.3% to reach 533,000 tonnes. As one of Mozambique's key cash crops, long-term sugar production growth will reflect an increase in export-driven demand and the opening up of new markets. Output is also expected to benefit from investment in biofuels.
- Poultry consumption growth to 2017: 33.3% to 60,400 tonnes. Among the factors underpinning our strong growth expectations are Mozambique's expanding population and the country's rising standards of living.
- Corn production growth to 2016/17: 12.4% to 2.45mn tonnes. Corn will remain one of Mozambique's most important food crops; it will also retain its status as an important source of feed for poultry and livestock. However, despite benefiting from efforts to raise production levels, the crop will remain vulnerable to variations in rainfall.
- BMI universe agribusiness market value: US$841.0mn in 2013 (up from US$828.0mn in 2012; growth expected to average 2.1% annually between 2012 and 2017).
- Real GDP growth: 7.6% in 2013 (up from 7.5% in 2012; projected to average 8.9% annually between 2012 and 2017).
- Consumer price index: 4.7% year-on-year (y-o-y) in 2013 (higher than 2.5% in 2012; predicted to average 5.9% over 2012-2017).
- Central bank policy rate: 8.75% in 2013 (down from 12.25% in 2012; predicted to average 10.00% over 2012-2017).
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A group of Chinese businessmen from Hubei province have signed a US$250mn deal with authorities from the state-owned Lower Limpopo Irrigation Scheme to help to develop the region's water irrigation and boost productivity within an area of agricultural land covering 12,000 hectares (ha). The initiative is mostly being undertaken with the view towards increasing wheat and rice production from the current level of 3.0 tonnes per ha to about 10 tonnes/ha. The partnership will be significant given that the Lower Limpopo system is the second largest irrigation scheme in the country.
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