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Cassava Farm Investment

Oyo state - 18 Month(s)

Psaltry International Company Limited (PIL) [https://psaltryinternational.com] is an agro-allied company founded by Oluyemisi Iranloye in the year 2005. The company started out by creating a market niche for cassava produce across the rural areas of Oyo State Nigeria. PIL initiated an out-grower program in September 2012 for farmers within an 80km radius of its factory before erecting a starch factory which commenced production in May 2013.

Psaltry has over 8000 hectares of land suited for out-grower programs, and has employed more than 300 staff with an asset worth of 15 million USD. Our modus operandi is eco-friendly; We installed a water recycling system to detoxify recalcitrant substances before disposing them into the environment and reduces amount of water usage in our production process.

Cassava farming is a source of livelihood for millions of farmers. Also, cassava serves as a primary staple food to over 800 million people worldwide. It is the third-largest source of food carbohydrates in the tropics, after rice and maize. Cassava is used for producing food products like garri, flour, tapioca, fufu, chips, e.t.c. It is rich in vitamins, carbs, calcium, etc. Nigeria is the world’s largest producer of cassava, while Thailand is the largest exporter of cassava with most of it going to Europe. In 2017, Nigeria produced 59 million tons making about 20% of global world production. Besides, it exports about 3.2 million tons annually and earned $136 million in 2013.