Commitment to agribusiness investment reduces imports

Luanda – Angola needs to spend more on agribusiness to reduce the costs of import of staple products and work on export of food, warned the economist Sérgio Hirose.

Angola spent USD 1.3 billion on imports of basic food products from January to October 2019, said the economist on Wednesday.

As for the imports, the economist put at USD 305 million the amount spent on rice, USD 205 million on meat and chicken and USD 180 million on palm oil.

Sugar imports accounted for 137 million dollars and wheat flour reached 124 million dollars.

Recent data from the sector point to USD 26 million as having been spent each month to import 15,000 tons of rice.

Speaking to Angop on the country’s commitment to reduce dependence on oil revenue, the official said that Angola has favorable conditions (climate, soil, among others) to have positive results in agribusiness.

Source: Angola Press News Agency