Tech Fortune Announces New Agricultural Venture
Tech Fortune Investment looks to Brazil's agricultural frontier for future investment.
Bahia (I-Newswire) March 13, 2013 - Tech Fortune a development company based in Hong Kong has announced that it will be developing more than 2,000 hectares of agricultural real estate in the North-east of Brazil.
The company which announced that its first wave of investment will look to develop low risk crop's such as coconuts for the domestic market is expected to invest further capital in the development of other crops such as soy bean crops for export to China over the coming years.
The company working alongside their management team of professional agronomists, licencing experts and property consultants have so far signed agreements with several local producers and domestic suppliers for the fruit crops produced from the project.
Low risk fruit crops such as coconuts are in heavy demand in Brazil with Aqua de Coco (a traditional drink for Brazilian's) in supply deficit. For several years Brazil has had to rely on importing coconut water from other areas such as Asia even though it is known to be one of the largest exporters of coconut products in the world.
With prices rising heavily wholesale prices for coconuts are currently around R$0.65 per coconut whilst retail prices are reaching R$1 per coconut.
Several other large multinational companies such as Coca Cola (branding coconut water under the name Zico) have had great success exporting coconut water as a healthy alternative sports drink.
Tech Fortune stated "This is the start of what we believe to be a big part of the companies future investment into Brazil and we will be looking to develop further agricultural projects in the region over the coming years".
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Published On:March 13, 2013
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