Proactive Investors | 13 October 2014
(Note: Through its subsidiary Montara Continental, Obtala Resources operates a farm in Songea in Southern Tanzania where it has lease rights to 20,000 ha. It also has a 9,875 ha DUAT for farmland in the Namuno District, in Cabo Delgado, Mozambique.)
By Philip Whiterow
The company said the fruit orchards would offset costs made from buying in fruit from contract farmers
Obtala Resources (LON:OBT) continues to expand its agricultural operations in Morogoro, Tanzania – revealing it had taken a lease on a chunk of agricultural land there, aiming to plant orchards that could save it US$1mln a year.
The land covers 204 hectares, is 235km from the port at Dar es Salaam and is next door to Obtala’s existing tomato, fruit and pepper farm. The company said the fruit orchards would offset costs made from buying in fruit from contract farmers. The additional land will allow for expanded revenues and cost savings and mean it will not need to buy in.
– See more at: http://farmlandgrab.org/post/view/24052#sthash.86C1nFOG.dpuf