Seed Co gears for agric season

Source: Seed Co gears for agric season | Herald (Business)

Seed Co chief executive officer Morgan Nzwere (left) and financial director John Matorofa.

Nelson Gahadza-Senior Business Reporter

SEED Co Limited says it has adequate stocks to cover the anticipated strong demand for seed in the forthcoming cropping season, with this year’s projected production higher than that for last season.

This augurs well for Zimbabwe, which is coming off a stellar agricultural season that is expected to drive the sector’s overall growth by 34 percent and anchor the 7,8 projected economic growth.

The Presidential Inputs Scheme, which supports hundreds of thousands of rural and vulnerable households, is one of the key drivers of demand for seed countrywide.

In a trading update for the four months to July 2021, Seed Co said total stocks available amounted to 67 800 tonnes, which the company contends were adequate to satisfy projected demand.

“Expected group wide maize seed production yield of 55 650mt, are 25 percent higher than last season and adequate to replenish stocks and satisfy anticipated demand,” the company said.

Seed Co said the intake of seed from its growers and farms for processing was at about 40 percent for maize and 60 percent for soya.

The group said its strategic objective was to continue consolidating the growth trajectory leveraging the strong pan African brand equity, skills and distribution channels in existing and new markets while mitigating Covid-19 headwinds.

The firm said it was well-positioned to defend the growth registered last season anchored on early rainfall forecasts, increased likelihood of a weak La Niña, which is expected to be favourable for above-normal rainfall in Southern Africa’s 2021-2022 season.

“Continued Government and development partners’ interventions to ensure food security amidst the pandemic will also ensure growth while we make inroads in new markets such as Angola, DRC, Mozambique and parts of West Africa,” it said.