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Nigeria Seeks Economic Diversification in Agriculture Push

Nigeria's agriculture ministry has attracted $8 billion in foreign investment and aims to boost that to just over $10 billion by 2015, the country's minister of agriculture said this week.Akinwumi Adesina told The Wall Street Journal that the country is seeking to boost investment in agriculture as part of a drive to diversify Nigeria's economy away from oil and gas, and to create more jobs and food security in the process.Indonesian fertilizer company Indorama will invest $2.5 billion in new fertilizer plants, Mr. Adesina said on a visit to South Africa for the World Economic Forum on Africa. Dangote Group, run by Africa's richest man, Nigerian Aliko Dangote, is investing $3.5 billion in what Mr. Adesina says will be Africa's biggest fertilizer plant.Major multinational agri-businesses are also moving in. Two weeks agao, the government approved a plan by Cargill Inc. to use cassava starch to make a sweetener that will be sold to Coca-Cola and Heineken, Mr. Adesina said.He added agri-b...

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  1. UN Urges Action On Potentially Catastrophic Food Prices

    Urgent action is needed to ensure rising world food prices don't turn into a catastrophe, the United Nations said Tuesday, but it cautioned that panic buying and exp...

  2. FAO , UN Agencies Appeal For Action to Combat Rising Food Prices

    The Food and Agriculture Organization and other United Nations agencies on Tuesday appealed for urgent action to combat rising food prices.The FAO, the World Food Pr...

  3. Al's Emporium: Fast Food Slows Down

    Throughout this never-ending era of high unemployment and declining wages, McDonald's has served as a global food bank.As recession fare goes, you simply can't beat ...

  4. USDA Slashes Corn Yield Forecast

    U.S. corn and soybean crops have been slashed even more than expected by the worst drought in half a century and will fail to replenish ultra-low stockpiles, a U.S. ...

  5. Drought Fans Fears of New Food Crisis

    Global alarm over a potential repeat of the 2008 food crisis escalated on Thursday after data showed food prices had jumped 6 percent last month and importers were s...

  6. Global Food Prices Rise 6% In July, U.N. Says

    Global food prices surged 6% in July driven by sharp increases in grain and sugar prices, the Food and Agriculture Organization of the United Nations said on Thursda...

  7. U.N. Warns of Potential Food Crisis

    World food prices surged in July after falling in the previous three months and could rise further, increasing the potential for a food crisis of the kind seen in 20...

  8. SOFTS HIGHLIGHTS: Top Stories Of The Day

    SUGAR World Food Prices Rebound Strongly In July On US DroughtWorld food prices rose by 6% in July, the United Nations' Food and Agriculture Organization said Thursd...

  9. Decision Points: Organic Versus Conventional Produce

    While conventionally-grown produce is often cheaper than the organic variety, some organizations, such as the Environmental Working Group (EWG), say that buying orga...

  10. EU Wheat Crop Outlook Cut Amid Adverse Growing Conditions

    Strategie Grains has cut its estimate for the European Union's 2012-2013 wheat harvest after sharply higher winterkill levels in Germany, Poland and France and has w...

  11. World Food Prices Move Lower In April - UN

    World food prices fell in April following three consecutive months of gains, pressured by declines in sugar, dairy and cereal prices that offset increases in oils an...

  12. World Food Prices Fall In April After 3 Months Of Gains - UN

    World food prices fell in April following three consecutive months of gains, pressured by declines in sugar, dairy and cereal prices that offset strong gains in oils...

  1. World Food Prices Rise in March on Dairy Surge

    Global food prices rose 1% in March, the United Nations' food agency said on Thursday, pointing to a surge in dairy costs, while cereals prices were little changed a...

  2. Opponents Fail to Overturn Shark Protection Deal

    Japan, China and other nations that support shark fishing Thursday lost a bid to overturn a deal that offers global trade protection for several species of the ocean...

  3. Food Prices Hold Steady Wheat Output to Rise

    World food prices held steady in February as falling wheat and sugar offset gains in vegetable oils and dairy prices, the United Nations' food agency said, forecasti...

  4. Global Food Prices Drop in December

    FBN's Melissa Francis breaks down mid-afternoon market news.

  5. Analysis: What's eating Australia? Foreign buyers at the farm gate

    Australia risks losing an opportunity to become a farmyard for Asia, as growing unease over foreigners buying rural land threatens to provoke protectionist policies ...

  6. World food prices rise, stay close to crisis levels: FAO

    World food prices rose in September and are seen remaining close to levels reached during the 2008 food crisis, the United Nations' food agency said on Thursday, whi...

  7. World food prices edge up in Sept: FAO

    World food prices rose slightly in September, approaching levels reached during the food crisis in 2008, the United Nations' food agency said on Thursday, trimming i...

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