Madagascan kidney bean grower seeks UK customer

28 January 2014

A plantation in Madagascar, which has created local employment and social facilities, is seeking a UK customer for its kidney beans and black-eyed peas.

Fuelstock, based in Mauritius, which alternates crops for biofuels with arable crops including corn, Jatropha and red chilli peppers, has been nominated by the international Fund for Agriculture Development (IFAD) as its preferred partner for developing sustainable EU-complaint white kidney beans and black-eyed peas.

Fuelstock, started by a former UK banker, Peter Hanratty, founder and President of the Madagascar British Chamber of Commerce, has recently agreed terms with a major European buyer and is now seeking a UK customer.

After years in the political and economic wilderness, Madagascar, where 80 per cent of the population is dependent upon agriculture, is poised to return to the international community with democratic elections held in December and the recent arrival of new British ambassador, Tim Smart.

Although there is a great deal of British activity, particularly in the oil and mining sectors with businesses such as Rio Tinto, Madagascar Oil, Sterling Energy and Tullow Oil, the country believes that its real opportunity lies in maximizing the potential of its developing agricultural industry.

Fuelstock, which concentrates on farming marginal eroded land and has a reforestation programme of one million trees, now has 3000 people dependent on the company and is the largest employer in north west Madagascar.

As part of its social programme the company has also built schools, a medical clinic and clean water wells.  Peter Hanratty can be contracted by email at: peter.hanratty@fuelstock.co.uk

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