Thursday, 6 April 2017

SOUTH AMERICA GAINS GROUND AS CORN EXPORTER

Brazil and Argentina are on the way to record corn harvests this year, underlining their rising stature as competitors of the U.S. in the export market. Neither country is in the same league as U.S. farmers in corn production. Combined, however, the two countries exported more corn than the U.S. in two of the past four trade years. 

They could make it a neck-and-neck race with the U.S. in the current trade year for prominence in the world market, although the U.S. is unchallenged as the largest single grower and exporter.
With more land in corn and yields rebounding from drought, the USDA forecasted in March that Brazil would harvest a record 91.5 million tonnes in 2016-2017. In Argentina, planted area is up by 31% from last year, driving the USDA forecast of a huge increase in output to a record 37.5 million tonnes. “Rains have maintained ample soil moisture reserves for the crop, and plant health is generally good,” says the World Agricultural Production report.
The record corn crop in Brazil is paired with a record soybean crop, matching the U.S. performance of record corn and soy crops in 2016-2017. Brazil has expanded soybean plantings for 11 years in a row and corn plantings in five of the last seven years.
This article was produced in collaboration with the Food & Environment Reporting Network, an independent, nonprofit news organization producing investigative reporting on food, agriculture, and environmental health.
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USDA PEGS U.S. SOYBEAN ACREAGE AT RECORD HIGH

The U.S. farmers will plant a record amount of soybean acres, while reducing corn and wheat acreage.
On Friday, the USDA pegged the U.S. 2017 soybean acreage at 89.5 million acres, above the trade’s expectation of 88.12 million and above last year’s acreage of 83.43. If realized, this year’s soybean plantings would be a new record.
As a result, the CME Group's soybean market closed down double-digits.
At the close, the May corn futures settled 6¢ higher at $3.63 1/2, while December futures finished 6 3/4¢ higher at $3.87 3/4.
May soybean futures closed 17¢ lower at $9.46. November soybean futures finished 8 1/4¢ lower at $9.55.
May wheat futures ended 3 1/2¢ higher at $4.24.
May soy meal futures closed $7.20 per short ton lower at $307.70. May soy oil futures closed $0.19 lower at 31.82¢ per pound. 
In the outside markets, the Brent crude oil market is $0.34 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 62 points lower.

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MARKET REACTION

Michael Rusch, Sales Director- Ag/Commercial for Stewart-Peterson, says that the corn market reaction to the report is surprising.
“With lower than expected acres, higher carryout, the reaction,so far, is a little disappointing only being up a few cents,” Rusch says.
 
With 90.0 million acres and trend line yields at 170 bushels per acre (assuming demands stays as predicted), Stewart-Peterson sees a 2.2 bill bu carryout.
“If trend line yield drop to 160 b.p.a., we see potential carryout drop to just under 1.5 bil bu. And the odds of 5 record crops in a row is in question. So, the point is that we don’t need to see a disaster of a crop to see carryout drop far enough below current levels to support price,” Rusch says.
 
“So far, the reaction to the bearish soybean report is mildly supportive, considering that we are not down more than 12-15 cents. It was probably built into the market over past few weeks,” Rusch says.
Jack Scoville, The PRICE Futures Group’s senior market analyst, says that the surprise is in the acres.
“There was a bigger switch between beans and corn than expected, by about 1 million acres. So, I think we will see some support for corn. The stocks were big across the board, but the bean guys are beating on it a bit too much, I think. The rice data is about right and should support the market longer term. Cotton high, at the expense of corn, wheat, rice. Overall, I think corn holds and maybe beans find a bottom today. We still have to plant, grow, and harvest after all, and the prices have gotten pretty cheap.”
Deanna Hawthorne-Lahre, StatFutures co-founder and trader, says that the report was not friendly to the soybean market.
“Bean acres caught weak longs with their pants down with the 89.5 mill acres,” Hawthorne-Lahre says. The peeps I talk to had this number in mind, but clearly the market didn't believe it.”
She adds, “Another big surprise is the spring wheat acres at 10.6 v. 10.9 last year. The trading pit was whispering under 10, so this definitely caught the big boys wrong.”
“Corn acres at 90.0 million is a bit surprising but I was figuring 91.5, so no biggie,” Hawthorne-Lahre says. Stocks build continues to weigh on the market as well - wheat stocks up 21% year-over-year is pretty amazing, given the lower acres last year.”
See the USDA’s U.S. Prospective Plantings report here
See the USDA’s U.S. Grain Stocks report here.

Chi Farms commences training for 1000 fish farmers

Chi Farms Limited has successfully concluded training and certification of a pilot group of women fish farmers in Ogun state.
The Aquaculture Client Focus Team of the organisation had trained a group of 22 women in areas such as pond preparation, water management, record keeping and fish farming as a business.
The pilot group are the first 22 farmers out of 500 farmers in the South and 500 farmers in the North of Nigeria that Chi Farms will partner with under a United States Agency for International Development (USAID) supported technical assistance program.
The objective of the programme is to contribute to food security in Nigeria by increasing the local production of affordable food. The pilot group will cooperate with the agriculture team of Diamond Bank that provides working capital finance for the farmers.
Chi Farms also signed partnership agreements with all fish farmers to assure supply of high quality catfish juveniles, quality fish feed, and continuous technical support.
According to the Manager Chi Farms Limited, Dr. Johannes Flosbach, “We have visited hundreds of fish farmers in the last months and observed that most of them have pond infrastructure available. Yet, most of the ponds are not in use because farmers are short of working capital, or possibly do not have the professional knowledge to manage catfish farming in a profitable matter.” 
The Executive Director at Chi Farms Ltd, Martin Middernacht, however noted that as part of the program, Chi Farms will also buy back table size catfish from associated farmers and make it available in major markets.
“The quantities of catfish we produce and supply to local markets under this program will measurably increase availability and affordability of food” he stated.

LEADERSHIP AWARDS:LOCAL RICE PRODUCTION TO SAVE NIGERIA $7M DAILY – OGBEH

With efforts currently being made in Nigeria to stop importation of rice by meeting the nationwide demand of seven million tonnes of the food product through local production annually by the year 2018, the country will soon be saving $7million daily in its foreign reserve.

This was disclosed yesterday by the Minister of Agriculture and Rural Development, Chief Audu Ogbeh at the 2016 LEADERSHIP Conference and Awards with the theme, ‘The Rice Economy’ held at the International Conference Centre, Abuja.

The minister who was the keynote speaker at the event which was attended by prominent Nigerians said the country’s policy as enunciated in the Agricultural Promotion Policy, the Green Alternative, will continue to drive the growth of rice in the value chain.

“By the time Nigeria achieves self sufficiency in its rice production, it will mean the saving of nearly $7 million a day from our foreign reserves, it will mean a happier society, it will mean that we have started obeying the law of nature. The stomach must first be stabilised before the eyes, the ear, the arms and the feet can function well”, Ogbeh stated.

Relying on the latest figures from the National Bureau of Statistics (NBS) which pegged the contribution of agriculture to the Gross Domestic Product (GDP)  at 24.7%, with an annual growth rate of 4.4 in a country facing recession, he acknowledged that the country was still some distance from its destination.

Noting that rice consumption in Nigeria is 7 million tons per annum, the minister expressed hope that the country will meet that target by the end of next year.

“What is happening is not an accident but the result of target attention to detail, hardwork and good leadership by governors and greater leadership by the president of the Federal Republic of Nigeria”, he observed.

Recalling how Nigerian went into rice importation, Ogbeh said he was a cabinet minister in 1982 when suggestion was brought by a colleague of theirs that the solution to rice demands was the establishment of a task force for importation.

He continued: “The question I asked then was why not a task force for  rice production? I was told I was too young to understand; that the solution was import first, then production later. This unusual and demeaning logic obviously reflected our ignorance about the dynamics of international trade.

“The moment the importers discovered the swiftness of the Nigerian market, they ensured that local production was not only disrupted but made sure it never took place. This is how rice kept coming and for a period of nearly 30 years, the import bill of rice stood at $6million a day. And we kept paying because there was money from oil and gas until the music stopped. “The consequences of our lack of discretion on our rice consumption has been a terrible drain on our economy. Nigerians are the second highest importers of rice in the world.

“The resultant inability of this society to develop its own strategy of ensuring self-sufficiency in our local staples, including rice has cost us a lot of money. We are now lamenting but the time is not here for lamentation because I think we have started solving the problem”.

Ogbeh also recalled that, while  in 1986 the programme of structural adjustment was dumped on the country and the rest of Africa, it did not occur to local economists and the government at that time and probably ever since that a policy of massive importation results in massive exportation of wealth and jobs.

He said, “Those who dumped that policy on us have since regretted their actions. Recall that a former managing director of the International Monetary Fund (IMF) in a book he wrote regretted the structural Adjustment Programme on Africa.

“Jeffrey Saks who was adviser to Kofi Annan on Economics condemned the programme as the worst assault on Africa since the slave trade as well as Paul Krugman, Nobel Prize winner in Economics from the United States who also condemned it. We the victims are now lamenting”.
The minister further pointed out that every ship load of rice of 50,000 metric tons denies the country of 15,000 jobs, especially in rural areas and among the small holders, adding that “what we have been doing is exporting wealth, importing poverty, depleting our foreign reserves and hoping that a miracle will happen someday”.

Chief Ogbeh, however, raised hope when he recalled that the current administration of President Buhari had in November 2015 launched a programme in Kebbi State called the Anchor Borrowers Programme for rice production.

He said the programme was designed and supported by the Central Bank of Nigeria( (CBN), which was criticised  by many and accused of having no business with supporting production, with some Nigerians claiming that the Anchor Borrowers Programme was not part of the CBN responsibilities but the business of the commercial banks

He said it was a thing of pride that the Governor of Kebbi State was being rewarded by LEADERSHIP Newspapers Group with the Person of the Year Award, describing it as “an award he (Bagudu) deserves”.

Outlining the role played by the CBN in the country’s rice revolution, Ogbeh said, “But as we all know the commercial banks in this country with the exception of 1 or two have never shown much sympathy for agriculture as they say it is too risky. Farmers do not report and have no capacity to pursue small farmers around the farms and recover their money. So, agriculture has suffered tremendously because credit has been unavailable to small holders.

“The CBN gave loans, farmers went to work. The governor of Kebbi in particular drove them, as he had 78,000 farmers growing rice and we went there to visit. President Buhari did the launch and I was there with him and Skeptics said to us it is a waste.

“Today in Kebbi, there are well over 400,000 men and women who make well over a million naira a year farming.The same is happening in Kano, Jigawa, Ebonyi, Anambra and Niger States respectively. We can almost say that recession has varnished from the rural communities in those places. Most people in those places live more relaxed lives than those in the cities They are making money, they have regained their prides, they no longer depend on handouts and if the trend continues we would have transferred wealth to the villages”.

The minister added that even foreign journalists who had gone round and reported the  success of the Nigerian rice programme  in the midst of recession were surprised that this was happening in Nigeria of all places.

Ogbeh further assured that the success story will continue because the country will soon 100 rice millers and properties in the next one week and that some of the Mills have a capacity of 10 tonnes, while others gave 100 tonnes.

He said, “The philosophy is simple: take life to the village and if we can stabilise the villages, we can stabilise this country and guarantee peace. We can create wealth for young people through agro processing in the entire rice value chain The number of young men and women crossing the desert, heading for voluntary slavery in Libya across will not find reason to go abroad.

“We intend to put more resources in seeds and our new fertiliser blend is already in the market ahead of the raining season. We are offering fertiliser, especially the NPK, to farmers at 50% of the price they paid last year N5500 per bag for 50kg.

“This was brought about by a negotiation between President Muhammadu Buhari and the King of Morroco. By the time we end our  journey and begin to supply 7 million tonnes, not less than 25 million Nigerians would be involved in the rice value chain. That number, mostly resident in the rural areas, would be the biggest guarantee of security, peace and stability to our local areas.They will be the only insurance against the reinsurance of things like Boko Haram and other insurgencies that may threaten us if we have no jobs to offer the youths.
Nigeria On Course To Join League Of Rice Super Powers – Nda- Isaiah
On his part, the Chairman of LEADERSHIP Newspapers Group Ltd, Mr Sam Nda-Isaiah said Nigeria is capable of joining the league of rice super powers like Thailand, China, Indonesia, Japan and Brazil in no distant future.

He based his assertion on the strides recorded by Kebbi State government in rice production, which he said could see the country becoming self- sufficient in rice production next year.
Nda-Isaiah stated this while delivering his welcome address at the 2016 LEADERSHIP Conference and Awards ceremony held at the International Conference Centre, Abuja.
Noting that some years back Nigeria used to spend $6 million daily importing rice, the Kakaki Nupe alluded to the fact that for Nigeria to be on the verge of becoming a super power in rice production next year at a time it was going through recession showed how serious the achievement of Kebbi State in the area of rice was.

He said, “Last year, we celebrated the coming of age of our democracy. This year we are celebrating pure and exemplary good governance. And for good reasons, we are also celebrating the rice economy. It is no accident that Nigeria will become self-sufficient in rice production by the end of next year. This means that in a few years, we should start exporting rice, and in years down the line we could join the league of rice super powers like Thailand, China, Indonesia, Japan and Brazil.

Yet, this is a commodity that Nigeria used to spend $6 million daily importing. If one considered that this feat is happening at a time of recession, then they would know how serious an achievement this is. This exploit didn’t just happen; some people planned hard and worked hard to make it so”.

Nda-Isaiah expressed optimism that Nigeria could come out of recession by simply planning and getting responsible if it can borrow  a leaf out of the success story of rice production in the country and replicating same in all aspects of the its national life.

He said, “The recent history of rice in Nigeria shows Nigeria can change its trajectory if we really put our mind to it. What we have done with rice, we can do with every other aspect of our national life.

“We can come out of our current recession – preordained by lack of planning and irresponsibility – by simply planning and getting responsible. If we had been serious about diversifying our economy a decade ago, the collapse of oil price in the international market would not send us scampering for cover.

“And if we start today to do in other sectors of the economy such as mining, IT and e-commerce and agriculture what we have done with rice, Nigeria would become a global force in no time. It is possible. We can do it” he added.

He advised the leadership of the country to leverage on the strengths of Nigeria which is the people, diversity and resources.

The All Progressives Congress (APC) said, “Our greatest assets are our people, our diversity and our resources. We just need a very courageous leadership to take full advantage of these. Nations compete by leveraging their key strengths. And Nigeria has lots and lots of areas of strength.

“Today we are celebrating some of our best. They have shown distinction in their different areas –governors, administrators, bankers, businessmen and youths who have shown that they are not limited by a disquieting recession.

“And, as usual, in making these choices we were not influenced in any way. Our nominations always go through very rigorous processes and painstaking debates. In some cases, we fall into a dilemma and we end up choosing more than one person for a category, as we can see this year. But this is a good dilemma because it simply means many people are doing very well”.

He congratulated all the awardees and expressed hope that they will start breaking even their own records after clinching the LEADERSHIP Awards which, according to him, “have become the most credible and most influential of its type by any newspaper house in the country

RESEARCHERS TO UNVEIL TECHNIQUES FOR CONTROLLING WEEDS IN CASSAVA

Researchers working under the International Institute of Tropical Agriculture led Cassava Weed Management Project (IITA-CWMP) will this week share findings and recommendations on how to tackle weeds in cassava farming systems.
The sharing of research findings is part of activities marked for a week-long annual review and planning meeting and Steering Committee meeting scheduled to hold 27-30 March 2017 at IITA in Ibadan.
“We are optimistic that the key findings from our research will help farmers to tackle the problem of weeds in cassava, with the view to having more yield,” says the Project Leader of IITA-CWMP, Dr Alfred Dixon, who is also a Director with IITA on Monday.
Declaring the meeting open, Dr Kenton Dashiell, IITA Deputy Director General, Partnership for Delivery, said the goal of the project was to take off drudgery due to weeding in cassava farming systems.
“I am happy that this meeting will share findings that will impact positively on weed control,” Dr Dashiell said.
Grown on about 7 million hectares, cassava is a major staple in Nigeria and it has transited from a food security crop to a cash crop. However, yield per ha of the root crop is about 8 tons per ha or less than half the amount realised on research stations. One of the major factors affecting the yield of cassava is weeds. Most of those involved in weeding are women and children, often times skipping classes to assist in weeding in Nigeria.
In 2014, the Cassava Weed Management Project was conceived to address the problem of weeds in cassava. The 5-year project which is supported by the Bill & Melinda Gates Foundation is exploring diverse weeds control methods including the use of simple motorised implements, use of safe and environmentally friendly herbicides, and the use of best-bet agronomic practices.
This year, which is the fourth, researchers, will make available findings of what has been done over the period.
Lawrence Kent of the Bill & Melinda Gates Foundation said the findings of the project would contribute to improvement of cassava with positive impact on women and children who bear the burden of weeding in cassava

Wednesday, 5 April 2017

3 BIG THINGS TODAY, APR 5

SOYBEAN FUTURES LOWER IN OVERNIGHT TRADING; ETHANOL OUTPUT, STOCKS INCREASE.



1. SOYBEANS LOWER OVERNIGHT AS U.S. EXPORTERS BATTLE WITH BRAZIL

Soybean futures declined overnight as the battle for exports between the U.S. and Brazil heats up.
The countries are now officially fighting for customers, who likely will go to whichever supplier offers the lowest price. Prices at ports in the Gulf of Mexico are reportedly nearing five-year lows as exporters attempt to attract overseas buyers.
Meanwhile, production in Brazil is expected to jump to a record, with some state and private forecasters saying output could total as much as 111 million metric tons. The U.S. Department of Agriculture has pegged Brazilian production at 108 million tons.
The U.S. is still the big kid on the block, expected to produce 117.2 million tons, according to the USDA.
Soybean futures fell 4¢ to $9.65 a bushel overnight on the Chicago Board of Trade. Soy meal was unchanged at $315.80 a short ton, and soy oil dropped 0.45¢ to 31.76¢ a pound.
Corn lost a penny to $3.57½ a bushel in Chicago.
Wheat futures for May delivery fell 1¼¢ to $4.24¼ a bushel in Chicago. Kansas City wheat declined ¼¢ to $4.23¼ a bushel.
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2. U.S. ETHANOL PRODUCTION HIGHEST IN SEVEN WEEKS, STOCKPILES SECOND HIGHEST EVER

U.S. ethanol production rose to the highest level in seven weeks, which is good news for corn growers.
Output in the week that ended on March 24 totaled 1.054 million barrels and day, on average, the highest since the seven days through February 3, according to the Energy Information Administration. Production was up 10 million barrels a day, on average, from the prior week.
Ethanol output has fluctuated greatly since the last time it was this high. On March 3, production dropped to 1.022 million barrels a day, the lowest since November, worrying some that it would stay low. It rebounded the next week, however, and is again at relatively lofty levels.
Output reached a record 1.061 million barrels a day, on average, in the week that ended on January 27.
Stockpiles of the biofuel last week also rose to an historic high, climbing to 23.257 million barrels, the second highest on record behind only the week ending March 4, 2016. Inventories a week earlier totaled 22.595 million barrels.
Carryout of ethanol has been relatively high since the start of the year, never falling below 20 million barrels. It’ll be interesting to see if stockpiles next week breach the record of 23.307 million.
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3. COOL WEATHER, SUNSHINE IN SOUTHERN PLAINS TODAY; STORMS EXPECTED IN ILLINOIS, INDIANA

Storms that were bringing much-needed rainfall to the Southern Plains have seemingly disappeared, giving way to cool overnight weather and sun in the afternoon.
Much of the Oklahoma panhandle saw temperatures in the low 30s overnight, some at 30˚F. and 31˚F., the National Weather Service said in a morning report, not cold enough to damage plants. It’ll get up to almost 70˚F. in some counties in the area this afternoon.
A new front will move in tomorrow, however, bringing a 50% chance of rainfall, and storms are likely on Saturday, according to the NWS.
In the Midwest, widely scattered thunderstorms are forecast for much of northern Illinois and Indiana this morning with coverage expanding by midday, the agency said.
“Some of the thunderstorms will likely become strong to severe in the afternoon,” the NWS said.

FMC TO BUY DUPONT ASSETS INCLUDING INSECTICIDE AND CEREAL HERBICIDE BUSINESSES

IT’S PART OF A EUROPEAN COMMISSION DIVESTMENT RULING FOR THE PLANNED DOW-DUPONT MERGER. IN RETURN, DUPONT GETS FMC HEALTH AND NUTRITION AND $1.2 BILLION.

FMC is expanding its footprint in the agricultural insecticide and herbicide business through a purchase from DuPont. In exchange, DuPont is acquiring FMC Health and Nutrition.
It’s all part of a European Commission divestment ruling related to DuPont’s merger with The Dow Chemical Company. 

HERE’S WHAT’S HAPPENING 

FMC will acquire DuPont’s global chewing pest insecticide portfolio, its global cereal broadleaf herbicides, and a substantial portion of DuPont’s global crop protection R&D capabilities. After closing of the acquisition, FMC Agricultural Solutions will become the fifth-largest crop protection chemical company in the world by revenue, with estimated annual revenue of approximately $3.8 billion.
Meanwhile, DuPont is acquiring FMC Health and Nutrition and will also receive $1.2 billion in cash as part of the deal.

WHAT FMC GETS

According to an FMC news release, the acquired portion of DuPont’s crop protection business includes a selective insecticide portfolio consisting of Rynaxypyr, Cyazypyr, and Indoxacarb. The first two of these products have full patent protection over their respective active ingredients, and FMC expects these products will generate over $1 billion in 2017 revenue. These selective insecticides are complementary to FMC’s existing broad-spectrum insecticide portfolio.
The acquired portfolio also includes DuPont’s global cereal broadleaf herbicides, consisting of nine active ingredients and multiple formulated products. This herbicide portfolio includes recognized brands and DuPont’s proprietary PrecisionPac technology. These products bring diversification to FMC’s crop exposure in herbicides and also increase the balance of preemergent and postemergent applications in FMC’s portfolio, the release said.
The geographic spread of the revenue in this portfolio will result in a significant increase in FMC’s presence in Asia and Europe. Following the acquisition, FMC’s crop protection revenue will be almost equally spread across all four major regions: North America, Latin America, Europe, and Asia.
The underlying intellectual property related to the acquired products, including patents, registrations, and data packages, will be transferred to FMC. FMC will acquire a global manufacturing network to support these products, including four active-ingredient manufacturing facilities and 10 regional formulation plants.
The acquisition will bring DuPont’s discovery and development organization, including its Delaware crop protection research headquarters, 14 regional development labs, and related regulatory capabilities. This organization includes a pipeline of 15 synthetic active ingredients currently in development, covering insecticides, herbicides, and fungicides, and a library of 1.8 million synthetic compounds. The majority of DuPont’s crop protection research workforce will transfer to FMC as part of this transaction.

WHAT’S NEXT

The transaction is subject to the closing of the Dow and DuPont merger, as well as customary closing conditions and regulatory approvals. Closing is expected to occur in the fourth quarter of 2017.

Announcement: Feed Nigeria, to Feed Africa

All is set to host a new paradigm in the Nigerian Agricultural Sector, the Feed Nigeria Summit.
The event tagged “Feed Nigeria, to Feed Africa” is a first of its kind in Nigeria, and will bring together prominent stakeholders, NGOs, government officials and ministries, campaigners, continental and international players and other influencers in the agricultural space, to discuss bugging issues aimed at advancing development of the agriculture sector in Nigeria.
Supported by the Homegrown School Partnership for Child Development (PCD), the African Development Bank (AfDB) and Songhai Centre, the summit will address key national agricultural productivity issues like finance, market access, research, infrastructure, mechanisation, and ICT, while ensuring a mainstreaming of gender and other related issues.
Through the instrumentality of the summit, AgroNigeria seeks a home-grown, private sector inspired, solution provision for the myriad of problems bedeviling the Nigerian agricultural sector.

AGRICULTURE, SOLID MINERALS CAN PAY NIGERIA’S DEBT — OGBEH

Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, says foreign exchange from agriculture and solid minerals could service the country’s debt and loan profile.
Ogbeh made the assertion on the sideline of the National Agribusiness Youth Training Programme funded by the Federal Government and the African Development Bank (AfDB) in Abuja on Tuesday.
The minister said that most funds for the training of youths in agriculture were borrowed from the World Bank and the African Development Bank (AfDB).
He said the Federal Government was designing a strategy through agriculture to enable the country earn enough foreign exchange to service its debt in due course.
According to him, after satisfying our needs in local staples for the grains mainly, we have to design a scheme from which we shall earn enough foreign exchange to settle debts.
He said the Federal Government would soon launch a National Plantation Programme to encourage individuals to farm the smallest part of their unused land to invent their future.
“All these monies for trainings on youth agriculture are borrowed.
“We borrowed from the AfDB and World Bank and if you take a loan, you must think of when and how to pay.
“Some of these loans will be due in 35 to 40 years. Time flies and the question is, how do we pay.
“We are not likely to sell oil for 100 dollars a barrel ever again and even if we do, we are not usually careful,’’ he said.
“We waste the money when it comes, so, agriculture and solid minerals will have to pay the loans and we will pay through exports.
“The average age of a farmer now is between 60 to 65 years and that is why we want the youths to be involved in agriculture.
“There is a programme which we will launch very soon. It is called the National Plantation Programme.
“Everyone with a land somewhere should do a plantation like cocoa, cashew, shea butter, coconut and pigeon pea to make money to recover the image and honour of this country.’’
The minister noted that the Federal Government would re-launch cocoa before the end of the second quarter of the year to also boost the production for exports.
He said the plan was to take the country back to its place of pride as the highest producers of cocoa.
“The only way of controlling tomorrow is by planning for it but we Africans are not very good at that.
“We get caught by the future, we do not remember much of the past,’’ he said.
Ogbeh commended the President of the AfDB, Dr Akinwumi Adesina, for his support to the country. (NAN)

EMPOWERMENT OF RURAL WOMEN FUNDAMENTAL TO 2030 AGENDA

Leaders from the three UN Rome-based agencies on March 8 2017 marked the International Women’s Day by reinforcing their commitments to step up efforts to invest in the capacities of rural women as key agents of change in building a world without hunger.
The Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD) and the World Food Programme (WFP) reminded the world that women and girls play a crucial role in achieving the 2030 Agenda for Sustainable Development, in particular, the goal of eradicating hunger and extreme poverty.
FAO Director-General José Graziano da Silva on the occasion said “Women play a critical role in agriculture and food systems – not just as farmers, but also as food producers, traders and managers.” He however said “women still face major constraints in rural labour markets and in agricultural value chains. They are more likely to be in poorly paid jobs, without legal or social protection. This limits women’s capacity to advance their skills, earn incomes and access employment opportunities.”
Graziano da Silva posited that the future of global food security depends on unleashing women’s potential. “Achieving gender equality and empowering women are crucial ingredients in the fight against extreme poverty, hunger and malnutrition which is strongly recognized by the 2030 Agenda for Sustainable Development,” he said.
Also speaking, IFAD President Kanayo F. Nwanze said, “We need to face the fact that we will never overcome poverty and hunger without empowering rural women.” He added that “We have ample evidence from around the world that greater empowerment of women in rural and urban areas leads to higher economic growth and a better quality of life for women and men alike.
Despite progress, it is still the case today that rural women’s double burden of farm labour and unpaid domestic work prevents them from participating fully and fairly in income-generating activities. Improving rural women’s access to technologies that save time and labour is essential to reducing their workloads. Transforming gender relations within the family is also crucial to empowering women and enabling them to make decisions about their lives.”
WFP Executive Director Ertharin Cousin said, “Empowering women economically is one of the key steps to realizing gender equality and achieving Zero Hunger. The changing world of work – as patterns of economic activity shift – provides the opportunity to achieve these goals.
“Ensuring women have adequate access to land, tools, fertilizers and credit improves their lives and the lives of their families; potentially freeing millions from hunger. We also know that school meals are a powerful incentive to keep girls in class, boosting their chances of completing school and finding employment. Enabling women to seize these opportunities will transform lives and help bring the Sustainable Development Goals within reach,” she said.