INNSCOR Africa Limited, through its agriculture division PHI, has injected US$10,4 million into the current summer cropping season meant to secure a consistent supply of raw materials for the conglomerate's various units while contributing to Zimbabwe's food security.
The largest buyer of locally-produced maize, soya products and wheat in the country, Innscor’s subsidiaries, including National Foods, Stock Feeds, Profeeds, Probrands, Irvine’s, The Buffalo Brewing Company and Colcom, also utilise substantial quantities of locally- grown sorghum, sugar beans and popcorn.
According to PHI director Graeme Murdoch, the agricultural unit has contracted 199 farmers to cultivate 6 786 hectares of key crops with the initiative expected to strengthen the supply chain for a wide range of food products while simultaneously improving the livelihoods of local farmers and promoting sustainable agricultural practices.
The majority of the investment, US$8 million, has been allocated to maize production, covering 4 804 hectares under commercial irrigation, 130 hectares of commercial dryland and 132 hectares of small-scale dryland farming.
An additional US$1,66 million has been invested in soya bean cultivation across 1 231 hectares. The remaining funds have been directed towards the production of sorghum and popcorn.
“Our commitment to investing in local agriculture is fundamental to achieving both our business objectives and supporting food security in Zimbabwe. By working closely with our farmers through initiatives such as contract farming, we help to ensure stable production levels and provide them with the necessary tools and resources to succeed,” Murdoch said.
Following last year's drought, Innscor companies largely relied on imports for their maize and soya bean requirements throughout most of 2024.
The 2023/24 summer crop yielded approximately 40 000 tonnes of maize and 7 000 tonnes of soya beans for PHI with an additional 53 000 tonnes of contracted wheat from the 2024 winter crop.
- Innscor declares dividend after impressive growth
- Innscor declares dividend after impressive growth
- Audit unearths secret govt investments
- Innscor on growth trajectory
Keep Reading
PHI has set a target of 6 400 hectares for winter wheat production this year.
Murdoch said the delayed start to the 2024/25 summer rains could potentially impact the success of the upcoming winter crop due to insufficient run-off received by dams in some areas.
“As we move towards the next planting season, we are focusing on diversifying our crop base and enhancing our partnerships with farmers to cultivate a broader range of crops,” he said.
The Agrowth Scheme, Innscor’s contract farming initiative, plays a crucial role in supporting local agriculture by availing finance and essential inputs to farmers, as well as guaranteeing reliable marketing channels for their produce. PHI intends to further expand its agricultural operations and increase investments in crop production to meet the growing demand for locally- sourced food products.
