[AGRICULTURE] Processing Challenges & Market for Starch & Syrup in West Africa
Written by Armour Radio on August 30, 2017
Africa has huge potential in cassava value chain with Nigeria alone expected to be worth $51 billion in cassava processing of starch and syrups and other value added products from cassava.
However, the country still imports about 95% of its industrial starch. Players such as Psaltry International Company with annual production capacity of 10,000 metric tons are only running at about half capacity.
Recently, Ms Oluyemisi Iranloye said that Nigeria has started to benefit from the import substitution policy of the federal government in cassava starch and it has earned it $4 million in the financial year ending 2016. Nigerian Breweries sources 60% of its cassava starch locally – mostly from Psaltry. Psaltry also sells its cassava starch to Nestle and Yale Foods. Learn first-hand as Psaltry’s CEO imparts its commercial experience and targets in cassava processing.
Oluyemisi Iranloye, CEO, Psaltry International Company