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Brazilian agribusinesss Agricola looks to Mozambique for expansion
SLC Agricola turned the tables on the wave of foreign interest in Brazilian farmland by seeking farms outside the South American country, probably in Africa, in a drive to expand its empire.
The farm operator, based in the southern Brazilian state of Rio Grande do Sul, unveiled an “internationalization plan” which will see it acquire, and plant, foreign farmland by 2015-16.
“The initial focus will be the African continent,” SLC Agricola said, adding that it was to study Mozambique “in depth.”
The foreign quest will supercharge a drive to increase its farmland by 2020-21 to 700,000 planted acres, of which 20% will be abroad, implying 140,000 hectares in foreign acquisitions. SLC’s current land bank spans 300,000 hectares, including conservation areas, all in Brazil.
The move contrasts with a scramble for South American land by many foreign investors, particularly in countries such as China and Saudi Arabia which are large food importers.