TIDMAGTA 
 
RNS Number : 0903H 
Agriterra Ltd 
15 February 2010 
 

        Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture 
15 February 2010 
                  Agriterra Ltd ('Agriterra' or 'the Company') 
                                Operations Update 
 
Agriterra Ltd, the AIM listed company focussed on the agricultural sector in 
central and southern Africa, announces an update on its maize processing, 
milling and cattle ranching operations in Mozambique. 
 
·    The Chimoio milling and processing facility had a record buying season in 
2009, increasing total maize purchases by 40% to 35,000 tonnes (2008 buying 
season: 25,000 tonnes) 
·    Construction is now underway to increase the capacity at Chimoio to over 
50,000 tonnes by end 2010 
·    The DECA product has a strong market presence, commanding 80% of market 
share in key regions such as Beira, and its geographic reach is spreading 
nationwide.  The product is now being sold regularly as far south as Chokwe near 
Maputo, nearly 1,000km from Chimoio 
·    At the Tete milling and processing facility, 8,000 tonnes of maize was 
purchased during the 2009 inaugural buying season and the product is now 
penetrating the market in the Tete region and surrounding areas 
·    Demand is expected to increase in the Tete Province due in particular to 
increased coal mining activities in the area 
·    The breeding programme is progressing well on Mozbife's Dombe and Mavonde 
ranches, where the total head of cattle is now approximately 1,000 
·    The Mavonde Ranch is now cleared and irrigated, and the land is currently 
being planted with various pasture grasses.  All cattle are tagged and recorded 
·    A 50km boundary fencing programme at the Dombe ranch is now underway and 
paddock fencing and the installation of water reticulation systems are due to 
start shortly 
·    The abattoir planning is progressing on schedule, with the initial target 
capacity of 50 head per day increasing to 100 per day with the addition of 
modular systems 
 
Agriterra Executive Director Euan Kay said, "2009 was a record buying season 
with a 40% increase in purchased maize.  Prices were favourable, and we are 
confident this will translate into higher margin which in-turn will provide 
increased cashflow and further improve our already strong treasury.   Our aim 
now is to focus on expanding the capacity of both our maize facilities and 
rapidly build critical mass, in order to capitalise on the increased demand for 
our product, as we expand our geographic reach and look to open up export 
markets. 
 
"With regards to our beef operations, we have also made strong progress 
preparing the ground and irrigation systems on both our Mavonde and Dombe 
ranches and our breeding programmes are advancing well.  We see that beef demand 
in Mozambique is likely to continue to grow and we intend for Mozbife to be at 
the forefront of the domestically reared beef market." 
 
                                   ** ENDS ** 
 
For further information please visit www.agriterra-ltd.com or contact: 
+----------------+--------------------------+---------------------+ 
| Andrew Groves  | Agriterra Ltd            | Tel: +44 (0) 20     | 
|                |                          | 7408 9200           | 
+----------------+--------------------------+---------------------+ 
| Jonathan       | Seymour Pierce Ltd       | Tel: +44 (0) 20     | 
| Wright         |                          | 7107 8000           | 
+----------------+--------------------------+---------------------+ 
| Richard        | Ambrian Partners Ltd     | Tel: +44 (0) 20     | 
| Swindells      |                          | 7634 4700           | 
+----------------+--------------------------+---------------------+ 
| Hugo de Salis  | St Brides Media &        | Tel: +44 (0) 20     | 
|                | Finance Ltd              | 7236 1177           | 
+----------------+--------------------------+---------------------+ 
| Susie Callear  | St Brides Media &        | Tel: +44 (0) 20     | 
|                | Finance Ltd              | 7236 1177           | 
+----------------+--------------------------+---------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCTTMJTMBTBBJM
Agriterra Ld (LSE:AGTA)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Agriterra Ld Charts.
Agriterra Ld (LSE:AGTA)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Agriterra Ld Charts.