Taking advantage of high food prices in international markets, Agri-Corp will start with 1,000 manzanas under cultivation.
A manzana is equivalent to 1.73 acres of land. or about two-thirds of a hectare.
The company bought 4,000 manzanas of land in the Malacatoya zone, and will bring 1,000 manzanas into new production each year.
It also plans to set up an electrical generator, using biomass from rice as fuel.
Agricorp's manager of communications and organizational development, Carlos Salinas, says the purpose is to contribute to import substitution of food.

Source: elnuevodiario.com.ni

More on this topic

Nicaragua: Agricorp Offers Shares for $10 million

May 2013

With a unit value of close to $41, the company has launched on the stock market 240,000 Non-Cumulative Preferred shares.

The structurer of the issuance is Invercasa, whose representatives described the event as "the first issuance of preferred shares in Nicaragua". The novelty of this story is that in practice, those buying shares will almost become owners (with limited rights) of a small part of the company.

Reduced Rice Planting in Costa Rica

March 2012

In order to overcome the distortions that have occured in the market, the National Assembly of Producers has decided to reduce the amount of sown land by 23 hectares.

Following the decision by the National Assembly of Producers, an agreement to issue certificates for the purchase of rice by industrialist is still pending.

Rice Cultivation Declines

June 2009

The rice growing season of 2008-2009, registered a decrease of 22% in the area used for rice cultivation in Costa Rica, from the same period in 2007-2008.

The main causes for the reduction of the harvested area are the contraction of credit during 2008, a product of the international financial crisis, and the international decline in the price for rice during the same year.

10,000 more hectares of rice to be planted in Costa Rica

January 2009

For the 2008-2009 period, rice growers will plant 58,130 hectares compared to the 47,252 in the 2007-2008 period.

According to nacion.com, "This increase in local rice production is due to two great expectations: the difficulty in importing rice due to high prices and the eventual help from the Government via the National Food Program."