Touch the Soil #966 (Feature photo – Nigerian Coat of Arms– CCA SA 3.0 Unported)
The third-largest agricultural conglomerate in the world is Olam. It has operations from seed to shelf making up 47 products in 70 countries.
Olam is also one of the world’s largest coffee companies. The company links millions of coffee growers to roasters.
So, why does it matter that Olam is investing $1 billion in new farming projects in Nigeria. First off, Africa is the last great place of agricultural assets such as new farmland and water. Farmland and water are things that most first-world nations have already developed and – in many cases – are in the process of exhausting.
Part of the $1 billion is to increase to 25,000 acres a rice farm that will become the largest rice farm in America. Olam is also working to overhaul textile factories with the goal of ultimately producing 88 million lbs. of raw cotton. Olam is working to make Nigeria the agricultural hub of the continent of Africa.
It may not be an overstatement that every time a global agricultural conglomerate invests another $1 billion in food and farming that value of a home garden with water also goes up.