Ag Tech Startups Get Help in Brazil; Cargil Expanding Protein Business
Reuters reports on Monday, Monsanto and Microsoft announced a partnership to invest in Ag technology startups in Brazil. Monsanto will join a Brazilian investment fund with up to 300 million reais ($92 million), managed by Microsoft, evaluating ideas for new digital tools to be applied to agricultural production in the country.. Project owners will have the option to pay back the investment after three years or convert the money into equity. "We want to foster new startups in the agricultural sector. There is a vast area for research and development," Rodrigo Santos, head of Monsanto in Latin America, told reporters on the sidelines of the Global Agribusiness Forum. Technology company Qualcomm is also investing in the fund.
Cargill is committed to the protein business. In the last year alone, Cargill has announced approximately $500 million in acquisitions and investments to grow its North American protein business. Some include: purchase of a beef processing plant in South Carolina and a new beef distribution center at the company's Dodge City, Kan., beef processing facility .
Today the Farm Foundation Forum will meet in DC to explore the topic: What Brexit Means for the Global Food System. Perspectives on the topic will be presented by:•Mike Dwyer, Chief Economist for the U.S. Feed Grains Council, one of three keynote speakers