Firm boosts trade, export of agro commodities

Valency Agro Nigeria Limited has commissioned its chain complex in Oyo State to boost the export and trade of agricultural commodities and input in the country.

According to the firm, the supply chain complex would support its operations of sourcing raw agricultural materials from the farm gate suppliers and processing these raw supplies into high-grade products as well as the distribution to wholesale, retail outlets and end-users.

The commissioning came on the heels of an equity acquisition in its parent company, Valency International Group, by British International Investment (BII), a development finance institute and impact investment organisation owned by the British government.

BII invested an initial $15m in the Singaporean-based agricultural commodities trading house, with an option to invest a further $35m within two years of completing the initial investment.

The firm received a lift to expand its operations, build more warehousing facilities and improve its processing of raw cashew nuts into high-quality cashew kernels for export.

The Chief Executive Officer of Valency Agro Nigeria Limited, Sumit Jain, said: “The firm is an integrated supply chain company that exports and trades in a diversified portfolio of agro commodities and inputs.”

He said the company boasted of assets that include an already established extensive global reach, and excellent sourcing networks directly with farm gate suppliers and manufacturing processors.

Jain said the firm also boasted of a deep origination network across the country in all major producing states for raw cashew, sesame, soybean, cocoa, ginger, and pulses.

Jain said: “Food security is a real challenge noting that due to lack of storage capacities, quality management infrastructure and cost of local transport, Nigeria loses more than 15 to 17 per cent of the crop.”

He said through the group’s subsidiary Global Supply Chain Solutions (GSCS), the firm is planning to work on all three aspects of food security such as warehousing and quality management services, fleet services, as well as clearing and forwarding services.