Boston, MA -- (ReleaseWire) -- 12/07/2012 -- BMI View: According to the Ministry of Agriculture, Mozambique still requires investment of US$3.1bn between 2013 and 2017 to ensure that the country is self-sufficient in food. Of the utmost importance is boosting agricultural productivity by improving irrigation, and introducing technology to small-scale farmers. The government has also highlighted the need to improve food and nutritional safety and facilitating more agricultural reform. Our optimism about Mozambique's agriculture industry largely hinges on the government's continued support for the sector.
- Sugar production growth to 2015/16: 48.2% to reach 489,000 tonnes. As one of Mozambique's key cash crops, long-term sugar production growth will reflect an increase in export-driven demand and the opening up of new markets; output is also expected to benefit from investment in biofuels.
- Poultry consumption growth to 2015/16: 32.2% to 56,700 tonnes. Among the factors underpinning our strong growth expectations are Mozambique's expanding population and the country's rising standards of living. Mozambique's population is predicted to grow by 11.7% over the five years to 2016, to 26.7mn; GDP per capita is forecast to increase from US$634 in 2012 to US$986 in 2016.
- Corn production growth to 2016: 14.8% to 2.40mn tonnes. Corn will remain one of Mozambique's most important food crops; it will also retain its status as an important source of feed for poultry and livestock. However, despite benefiting from efforts to raise production levels, the crop will remain vulnerable to variations in rainfall.
- Real GDP growth: 7.5% in 2012 (up from 7.3% in 2011); projected to average 8.6% over the five years to 2016.
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Key Views And Developments
A group of Chinese businessmen from Hubei province have signed a US$250mn deal with the authorities from the state-owned Lower Limpopo Irrigation Scheme to help to develop the region's water irrigation and boost productivity within an area of agricultural land covering 12,000 hectares (ha). The initiative is mostly being undertaken with the view towards increasing wheat and rice production from the current level of 3.0 tonnes/ha to about 10 tonnes/ha. The partnership will be significant given that the Lower Limpopo system is the second largest irrigation scheme in the country.
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