The sustained growth of oil palm crops has caused demand for more industrialization plants, that will be financed with a loan of $100 million from the Malaysian government.
According to Hector Castro, president of the National Federation of Honduran Palm Producers (Fenapalma) a meeting was recently held with representatives of the Government and executives from Banco Hondureño para la Producción y Vivienda (Banhprovi), in order to promote and encourage the development of this industry.
African palm producers plan to increase by 10% the area under cultivation, mainly in the northern and Atlantic zone of the country.
The intention is to compete with the big Central American producers such as Ecuador and Colombia, who have about 400,000 and 600,000 hectares respectively.
In this regard, Hector Castro, president of the Fenapalmah (National Federation of Honduran Palm Producers), said "We have the conditions to grow by half a million hectares, which could mean being in first place as producers and exporters in Latin America."
Mario Ramon Lopez, president of Banadesa, reported that they have $90 million as a part of the Bank's budget, and another $95 million that will come from various accords with Venezuela, in particular from the Bolivarian Alternative for the Americas.
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As part of the Agritrade Platform, Guatemala will participate for the 27th time in PMA Fresh Summit, the most important international trade show and convention of fruits and vegetables in the United States, which will take place at Anaheim Convention Center, California from October 17th to 19th.
XAGRO S.A. Announced that they have signed a purchase agreement with Jam LLC to buy 5,000 MT of red beans from China that will be sold to importers throughout Central America to help ease market pressure and lower the high prices caused by recent shortages.