Mozambique Approves Seeds Processing Project, AIM Reports

June 29 (Bloomberg) -- Mozambique has approved a 1.5 billion Meticais programme to finance the production of seeds that will lead to improved yields, state run news agency Agencia de Informacao de Mocambique reported, citing Agriculture Minister Jose Pacheco.

The approval of the funding, which will partly come from the state budget, comes after the government approved a development plan for the agricultural sector in May this year, the Maputo-based news agency said.

Mozambique produces 6,000 tons of seeds, of which 50 percent is maize seed, 32 percent rice seeds while the rest is diverse seeds, according to AIM.

To contact the reporter on this story: Fred Katerere in Maputo at fkaterere@bloomberg.net

To contact the editor responsible for this story: Tim Smith at tsmith58@bloomberg.net