London — The Guernsey registered trading company Agriterra on Thursday announced that it has acquired a 2,500 hectare farm in the central Mozambican province of Manica, which will provide the company with bananas and macadamia nuts.
The farm, which also has land that will be used to expand the company’s cattle production, is 25 kilometres north of Agriterra’s Mavonde Stun Ranch and is next to the Nyadzonya River.
According to the Agriterra Executive Director, Euan Kay, “the purchase of additional acreage in Mozambique provides a strong boost to our rapidly expanding beef operations, which are already producing significant revenues for the Group”.
The banana plantation is currently producing seven tonnes per week and the company intends to further develop the plantation. Meanwhile, the macadamia orchard is expected to begin producing nuts for market within two years.
The company is also aiming to double production at Mavonde following the purchase of a neighbouring 1,000 hectare farm.
The dam for irrigating the Mavonde farm is now completely full with 48 billion litres of water. The dam will also provide electricity to power the irrigation pumps.
The chairman of Agriterra is former England test cricketer Phil Edmonds.