The Howard G. Buffett Foundation plans to work with Deere & Co. (DE), the world’s largest maker of agricultural equipment, and DuPont Co.’s seed unit to help small farmers in Africa increase production.
The partners will collaborate initially in Ghana, the world’s second-largest cocoa grower, using Deere machines, seed from DuPont’s Pioneer subsidiary and conservation-based training from the foundation, they said in a joint statement today. The group said it hopes to expand the program throughout Africa.
“The long-term food security of Africa depends upon rebuilding its degraded soils, which can best be achieved through the widespread adoption of conservation agriculture practices,” Howard G. Buffett, chairman and chief executive officer of his namesake foundation, said in the statement .
Africa’s share of global agricultural exports is falling while food imports and prices rise as its infrastructure lags behind the rest of the world, according to a report by Rabobank Group today. With the value of its food markets expected to triple in the next two decades, Africa offers food and agricultural companies growth opportunities, according to the report.
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