Global agricultural commodity company Cargill announced on 17 January that it would be investing more than US$200M over the next three to five years in Pakistan, where it has been doing business since 1984.
“Cargill aims to partner in Pakistan’s growth by bringing in its expertise and investment into the country,” the company said. “Our strategy includes expansion across our agricultural trading and supply chain, edible oils, animal feed, meat and dairy businesses, while ensuring safety and food traceability.”
Cargill said it would bring “world class” innovations to the growing dairy industry in Pakistan while also supporting Pakistan’s economic development and contributing to local employment.
A rising demand for edible oils, backed by evolving consumption patterns and a growing market for animal feed driven by sustained progress in the poultry industry was also being seen in the country.
“Having been in Pakistan for more than 30 years, Cargill is happy to demonstrate our commitment to the country’s future through investment in our business and communities here. Finalising one of our first investments in the agricultural supply chain in Pakistan is our top priority,” said Imran Nasrullah, country head, Cargill Pakistan.
Cargill has interests in refined oils, animal feed, grains and oilseeds, cotton, sugar and metals in Pakistan. It is one of the largest suppliers of palm oil and soyabeans to Pakistan, with a head office in the country’s capital, Karachi.
The investment announcement comes after the Pakistan Nation Shipping Corporation laid out plans in November to build a new terminal in Karachi to ease pressure on the country’s only dedicated grain and oil seed facility at Port Qasim, allowing it meet the needs of oilseed, cereal and fertiliser shipments.