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Sun, 01 Nov 2020 13:06 - Updated Sun, 01 Nov 2020 13:06

Cooperative invests Akz three million in palm oil production

Caxito - A project to plant 3,000 palm trees to produce palm oil, valued at around 3 million kwanzas, will be implemented this year by the Sanga cooperative of the village of Mutenda in the municipality of Úcuna, Bengo province, on an area of 5,000 hectares.

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The palm trees were acquired in Cabinda province (northern Angola) at a price of 1,000 kwanzas each and have a growth and production cycle of three to four years.

The project also includes the creation of small industries to transform local production, especially factories for palm oil, cassava and maize flour-

An area where cocoa production will be developed is also currently being prospected by the cooperative, Damião Abel dos Santos, the cooperative's executive director, said.

Bananas, cassava, sweet potatoes, oranges, passion fruit, pineapple, lemon, yams, papaya, baobab fruit, coal, beans and maize are being produced in an area of 20 hectares.

As part of the Programme to Support Production, Diversification of Exports and Import Substitution (Prodesi), the cooperative is waiting for financing of about 50 million kwanzas for the purchase of a new tractor with its implements and irrigation systems.

The cooperative, which is in the group of those selected for credit by the Angolan Development Bank (BDA), is made up of ten farms and has already invested seven million kwanzas (own funds).

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