SeedCo tackles farmers’ climate change challenges
LISTED seed manufacturer, SeedCo Zimbabwe, says research and development are critical in driving innovation that guides production of climate-smart seed varieties to ensure improved farming output.
In a statement accompanying its annual report for the year ended 31 March 2024, SeedCo group chairman Mr Pearson Gowero said the company was determined to address challenges faced by farmers in the face of climate change.
Through research and development, he said the business continues to prioritise science based solutions in providing superior, high-performing seed solutions.
“Our research and development function remains a cornerstone of our strategy, driving industry-leading innovations through the introduction of climate-smart seed varieties,” said Mr Gowero.
“Our breeding programmes are meticulously crafted to address the evolving challenges of climate change, along with emerging pests and diseases.
“This proactive approach ensures that we stay at the forefront of delivering seed solutions that meet farmers’ needs within a well-managed product life cycle plan.”
Amid the rise in adverse effects of climate change, farmers are urged to scale up the adoption of climate-proofed agriculture approaches such as the Intwasa/Pfumvudza model, use of early maturing seed varieties and small grains, which can only be possible if seed manufacturers continue to innovate and produce seeds that meet the requirements.
In response to farmers’ demand, Mr Gowero said they have also diversified into new crop species, including rice, potato, hybrid sorghum, and vegetable seeds, thereby broadening their revenue streams.
Meanwhile, SeedCo recorded a 20 percent decline on its turnover during the year under review attributing the decrease to a 27 percent reduction in volumes, as demand was negatively impacted by the drought.
Despite the negative impact of droughts, Mr Gowero said the company recorded an increase in profit after tax driven by an increase in other income, which included United States dollar-denominated royalties and exchange gains from the fair valuation of US dollar-denominated receivables.
He added that global supply shocks and imported inflation continue to present significant challenges for businesses in emerging markets, particularly in Zimbabwe and Africa at large.
In Zimbabwe, he said the introduction of the new Zimbabwe Gold currency, together with supporting policies, is expected to bring about currency stability to anchor business and economic growth.
“Across the African continent, governments and development partners are expected to maintain their focus on primary food production,” said Mr Gowero.
“We are ready and prepared to contribute to the continent’s objective of achieving food self-sufficiency buoyed favourable early rainfall forecasts for the upcoming season.” –chronicles
