SeedCo gears up for 2021/22 cropping season
LIVINGSTONE MARUFU
Seed producer, Seed Co, says it is intensifying preparations to improve production in order to satisfy the market in the 2021/22 summer crop season following high demand for seed in the current season.
This year, the company struggled to cope with the demand for seeds in Zimbabwe and in Africa as a whole.
Seed Co’s group chief executive officer, Morgan Nzwere, told Business Times: “This year’s demand taught us that we should produce more seed for the new agriculture season and we are up to the task.”
There has been a high demand of seeds in Zimbabwe and Africa as more farmers expanded their hectarage due to good rains that most parts of the continent have experienced.
Nzwere said Covid-19 also brought a new phenomenon of the need for more feed while people are on lockdown.
Seed Co also has various vegetable varieties which farmers can utilise in their fields for market gardening and horticultural exports.
According to a research firm, Morgan & Co, agricultural businesses are well positioned for growth this year due to the demand for food and raw materials.
Consequently, Seed Co International, which develops and markets certified crops, mainly hybrid maize seed as well as wheat, soyabeans, groundnuts and vegetable seeds, is set to benefit from the national focus on current agriculture rebound, Morgan & Co said.
The seed company is likely to continue to benefit from a high demand for the horticultural products in Europe hence exports of that sector are anticipated to rise this year.
In its financial results for the six months to September 30, 2020, Seed Co Zimbabwe posted a 236% increase in profit to ZWL$2.20bn from ZWL$656.7m recorded in the prior corresponding period due to strong sales volume growth and selling price increases.
Revenues for the group increased 55% to ZWL$975m in the period under review from ZWL$627.3m in the prior comparative period.
The giant seed company is optimistic that seed demand is expected to remain strong due to initial weather forecasts which indicated normal to above normal rainfall.
The company expects to also have high demand on winter wheat seeds and maize due to high water levels in various water sources for irrigation.
