Agriterra Group posts record sales of maize acquired in Mozambique

1 July 2011

Guernsey, United Kingdom, 1 July – The Guernsey-based Agriterra Group said Wednesday it had sold record amounts of Maize in Mozambique via its subsidiaries DECA and Compagri in the year ended on 31 May, 2011.

In a statement published on its website, the group said that sales had posted a year-on-year rise of 55 percent to US$13.6 million and that the two companies had acquired 28,822 tons of maize, or 56 percent more than in the previous financial year.

Compagri, located in Mozambique’s Tete province, is focused on export markets and in the current buying season had acquired 17,000 tons of maize, and the two companies currently have stocks of 22,000 tons.

The group also said that its cattle ranching operations at Mozbife had seen rapid growth and currently had 1,445 head of cattle at its ranches in Dombe and Mavonde.

Construction of an abattoir in Chimoio had been commissioned, the group said, where the DECA maize business is headquartered, and the abattoir will have, “an initial throughput of 300 head of cattle and 1,200 goats per day.”

The group’s operations in Mozambique are focused on the sale of agricultural products after it acquired Desenvolvimento e Comercialização Agrícola Limitada (DECA) and Compagri Limitada (Compagri), as well as on cattle ranching following the acquisition of Mozbife Limitada (Mozbife).

The Agriterra group also has a concession in Guinea Conakry for construction and operation of a commercial and industrial terminal covering 30 hectares in the Eastern part of the port of Conakry. (macauhub)