Ashmore International acquires more acres of new farmland in 2016
(Newswire.com) - Ashmore International taking another step forward to be a leader among peers.
Ashmore International is closing out one of its more active quarters to date, with the acquisition of thousands of acres of new farmland in South America, with a large percentage in coffee farmland. “We had a very strong quarter in terms of both overall portfolio growth and operating results. From a portfolio standpoint, we had our most active quarter to date, adding over 12,000 acres of new farmland to our portfolio for approximately USD 50 million. These new farms are spread across six different countries in South America, providing further diversification to our portfolio,” said Chief Executive Officer, Adrian Wright.
Major of the acquisition were into coffee farmland that consist of 8,000 acres, for USD 35 million. Ashmore International explained that, the main reason why they focus on coffee farmland is due to the growth potential of coffee beans. World demand for coffee beans is poised to hit a record this year as people around the world are consuming more of the beverage. Global coffee consumption is expected to grow 1.3% over the next year. Demand has been running well above expectations, thereby tightening coffee markets significantly. The high demand is leading to higher prices for the coffee beans.
Ashmore International is not only a corporation that focuses on profits. They have been often praised by fellow peers over the years, for their contribution to the industry – both socially and economically. Ashmore International recognizes the importance of being socially and economically conscious. They incorporate social responsibility into their business model by investing in farmlands owned by less fortunate farmers as well as providing loans to them to ensure their survival and work with them towards success.
“Since our establishment, we have been dedicated to helping the less fortunate farmers. Farmers are the reason why we exist. Initiatives like this goes a long way, both for the cause and for our reputation. It is our way of returning to the society and a contribution to an important industry of the global economy,” he said.
