Japanese company invests in Morrocan poultry producer
Japanese company Mitsui&Co directed $27 million investment to Zalar Holding, an operator of grain, feed, and broiler integration businesses in Morocco and Senegal.
North African region and poultry businesses are looking extremely attractive to foreign investors as the chicken meat has no religious constraints and the countries in the area are expecting a growth in demand for animal protein.
"We aim to work in collaboration with Zalar and utilize our accumulated business expertise and knowledge to construct a supply system which response to the expanding demand for animal proteins in areas of Africa experiencing remarkable growth", announced the Japanese company in a statement.
An outlook presented by OECD and UN's Food and Agriculture Organisation (FAO) mentioned that Strong growth is expected in developing regions with more rapid population growth, including Sub-Saharan Africa, South and East Asia, and the Middle East and North Africa.
Morroco's chicken consumption per capita is half of the volume reported in developed countries but continue growth is expected in the near future. Morroco exports only 12% of its agribusiness output, the rest being destined for the domestic market.
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