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Yaounde, Cameroon Africa(Cameroon News) -
Herakles Farms proposes development of sustainable Palm Oil plantations in Cameroon and Ghana.
Herakles Farms, a farming company that operates out of NewYork, is prposing to develop two sustainable palm oil plantations in Cameroon and Ghana, that can be commercially scalable and would provide jobs to over 10,000 local people thereby flagging off a crucial growth opportunity in the Central and West African regions. Herakles Farms started work on the project in 2009, when it secured full stakes in SG Sustainable Oils from Sithe Global, an affiliate of the Blackstone Group. Blackstone does not have any stakes in Herakles Farms, unlike what rumors and reports indicate. The plantations will adhere to the global environmental and social norms, and will be totally complaint with Roundtable on Sustainable Palm Oil (RSPO) Principles & Criteria. RSPO is conceived as a non-profit association that brings together stakeholders from the palm oil industry to develop and implement global standards for sustainable palm oil.
“We are very excited to be developing one of the largest sustainable palm oil plantations in Africa, establishing an African stake in one of the fastest-growing global food crops. The need for local supply is significant. In 2009, Africa imported approximately 4 million tons of palm oil, primarily from Indonesia and Malaysia. Currently, the continent’s average per capita consumption of oils and fats is only about 11 kg, compared to the world average of about 24 kg,” said Bruce Wrobel, CEO of Herakles Farms. “In addition to reducing dependence on imports for this food staple, the plantations will deliver a whole range of benefits for the local population, including jobs, housing, health clinics, clean water and schools, while safeguarding the incredible biodiversity of this part of the world.”
No cultivation would be undertaken in regions that come under the category of primary forest or high conservation value forest (HCVF), and all care would be given to demarcate buffer zones between the plantations and those regions. Herakles Farms is also planning to synergize with the local population in every stage of the planning and development process. The project will not demobilize any local villages that exist in the area demarcated for cultivation, and steps would be undertaken to support local farmers in best practices for resource enhancement and improvement of production. The decision to invest in the project has been taken after detailed research and evaluation was done for over two years. The studies comprised of an environmental impact assessment directed towards wildlife and plant life by local and international organizations, as well as evaluation of criteria such as climate, infrastructure, and the assessment of local administration.
Global demand for palm oil is on a upward sprint and is likely to only move higher fuelled by increasing population rise. Consumption grew by 50% in the five year period from 2004 to 2009. Palm oil also come with the added advantage of having the highest yield per hectare among crops that produce vegetable oils, making the requirement for land for production, pesticides, fertilizers, fuel and other inputs much lesser. The World Bank in a recent study states that, “with a population increase of 11.6 percent and a 5 percent increase in per capita consumption, an additional 28 million tonnes of vegetable oils will have to be produced annually by 2020. Palm oil is well placed to meet this demand with the lowest requirement for new land.” Huge sized oil palm plantations are also potential job creators and create more jobs per unit area than most other large scale farms.
About Herakles Farms
Herakles Farms that was set up in 2009 deals on large-scale agricultural projects in Africa. Herakles Farms is a member of the Roundtable on Sustainable Palm Oil (RSPO). Herakles Farms synergizes with the nonprofit, All for Africa, and has invested in various projects that enhances agriculture, provides clean water, community health, education, energy, environmental impact, micro-financing and skills training/livelihood creation.
