Karuturi Global plans to plant 20,000 hectares of land with Sorghum, rice, maize, sunflower and soybeans in Bako area of Oromia regional state and Gambella regional state, by November 2011
As Indian businessmen bet on cash crops, it’s unclear whether food security issues are being tackled
The likelihood of Ethiopia facing stiff competition from Tanzania and Uganda in attracting investment from Indian agri-businesses reared its head during a visit from a 35 member delegation last week.
Les affaires sont les affaires: des entreprises indiennes d’agroalimentaire sont prêtes à investir plus d’un milliard d’euros en Ethiopie, Tanzanie et Ouganda
Northern Uganda has offered Indian agricultural investors land to carry out commercial farming. This offer will be under joint venture agreements with the locals.
Nirmal Seeds wants not more than 30,000 hectares of land in Tanzania to invest in seeds production to feed the local market.
Last week, Uganda received a 35 man business delegation from India interested in the country’s agribusiness potential and boosting its exploits. Mr Ramakrishna Karuturi, the leader of the delegation, said the team intends to invest up to $2 billion in agribusiness pending the issue of investment licences.
The President informed them of 3 available modules of investment that they could take advantage of including processing without getting involved in physical production where an investor buys products from farmers, processes them or engage in core plantation and process the produce into finished items or contracting out-growers so that they as a community of producers can benefit.
New report provides a detailed examination of the role of the Indian government and Indian companies engaged in overseas agricultural land acquisitions in Africa, Asia and Latin America.
Karuturi expects to acquire 311,700 ha of land in Tanzania that is similar to Ethiopia and has already applied for 1000 ha of land at Rufiji Basin, Coast Region.
The company plans to lease land to grow palm oil, sugar cane and cereals in Tanzania, to add to land it has acquired in Ethiopia. Karuturi is visiting Tanzania, Uganda and Ethiopia as part of a delegation of 35 Indian investors.
Karuturi Global is hiring Punjabi farmers to leave India and farm its large holdings in Ethiopia
