From the Geelong Advertiser / * today
These ASX ag stocks focus on food security from climate change, El Nino and conflict
MNB was trading up 17 per cent on Wednesday after inking a binding memorandum of understanding (MOU) with the Grupo Carrinho, Angola’s largest agro-industrial group, for the supply of Cabinda Phosphate Rock to be used as fertiliser.
MNB’s vision is to build a nutrient supply and distribution business that stimulates agricultural production and promotes food security in Angola and the broader Congo Basin.
The MOU is a significant milestone for the company and an early step towards becoming Angola’s largest supplier of fertiliser.
CEO Lindsay Reed said having so much of its initial production spoken for by one major partner enabled MNB to plan for new stages and wider customer engagement.
“It’s hard to underestimate how important this offtake agreement is for Minbos and our plans to be Angola’s largest supplier of fertiliser,” he said.
“Angola is undergoing a fundamental economic overhaul as the government seeks to diversify its economy away from oil and gas and has agriculture firmly in its sights, with boosting crop yields inextricably linked to food security.”
https://www.geelongadvertiser.com.au/business/*/these-asx-ag-stocks-focus-on-food-security-from-climate-change-el-nino-and-conflict/news-story/1446e29ac4ef3b7bc2f53fb54816a61b
