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AFRICABIZ VOL 1- ISSUE: 38
JUNE 15 - JULY 14, 2002
Previous Issue
Editor: Dr. Bienvenu-Magloire Quenum
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Featured Article
Countries Briefs
Live News On Africa
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A Word From the Editor
Business Opportunities
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A WORD FROM THE EDITOR


Dear visitor and international investor,


We warmly welcome you, if this is your first visit to Africabiz Online - The ultimate newsletter on trading and investing in 49 sub-Saharan African countries. If you are a regular and faithful reader, welcome back.

If you are a regular and faithful reader, welcome back.

- FOREIGN EXCHANGE INCOME GENERATING OPPORTUNITY

The Featured Article linked to this delivery, written by Ian Mvula, CEO of Online Forex Trading, deals with the Introduction To The Basics Of Currency Trading.

Currencies are commodities, which as any other good obey to the rules of Supply and Demand. In other words currencies can be bought and sold in accordance with Demand and Bid. The depreciation of a currency may trigger the demand for that currency on the financial market. It costs less for an investor to acquire a certain amount of said depreciated currency with a most stronger one.

Supply and and Demand are triggered by rate's fluctuation between the several currencies of the leading economies of the world. (United States Of America, Euroland,The British Pound, The Japanese Yen, The Swiss Franc; to name the most important)

Currency Trading is also known as the Foreign Exchange market - FOREX.

Forex is not a "market" in the traditional sense. There is no centralized location for trading as there is in Futures or Stocks. Forex bourse is located in the cyberspace.

- FOREX IS A HUGE MONEY MARKET

The Forex market is huge. Daily market turnover has skyrocketed from approximately 5 billion US$ in late 1970's to a staggering 1.5 trillion US dollars today.

Before the present "Investing's Democracy Era" established by the Internet, ten years ago or a century ago according to digital dating period Forex was the kingdom of banks, financial institutions, and big oils with deep pockets. Small investors were simply barred from the playing field.

Presently Forex is the most opened and exciting market, which is controlled by so many participants - Central banks, private banks, international corporations, money managers and speculators - that no one player, governments included, can directly control the direction of the market.

- A GATEWAY TO SUSTAINED WEALTH FOR THE SMART SURFER

Nowadays, thanks to the revolution introduced by the Internet, anyone connected to the World Wild Web can also play on the Forex market Just for a small input.

Ian Mvula Featured Article introduces you to the Basics Of Internet Currency Day Trading. He guides you and leads you safely into the arcane of Forex. If you follow up and stick to the rules, you can avoid the pitfalls of overbidding.

Sure, Currency Trading is not for the faint heart! You have to be ready for some adrenaline shock-off from time to time. The reward, however is worth it. You just need to learn how to play it safe.

- SOME LEADS FOR THE SMART INVESTOR

In line with Ian Mvula's article, FREEBIE OF THE MONTH' section featured MEDVED' S QuoteTraker. The must have for anyone who wants to have the best available tool for Futures and Stocks trading. Medved's QuoteTraker is simply the best. A good companion to Microsoft's MoneyCentral's web-based investing tool.

To learn more on the fantastic revolution introduced by the Internet, which makes it easy for the individual investor to enter the fray of Future, Stocks and Currency trading you may read Charles B. Carlson's book titled: "THE INDIVIDUAL INVESTOR REVOLUTION" - MacGraw Hill. Click here to get it.

If you are interested to trading in African countries' Stocks
click here.


Contributor's Guidelines is here to review. Your contribution on "How African countries / entrepreneurs could bridge the developing gap" is welcome.

Many thanks for dropping by and see you here on July 15, 2002.

Dr. B.M. Quenum
Editor of AFRICABIZ
Contact Dr. Bienvenu-Magloire Quenum

BUSINESS OPPORTUNITIES IN AFRICA


- Several business opportunities with high profit making potential which are economic catalysts and components to the Strategy for African Countries - here available - have been introduced to you. They are listed in following table.

a- SHEA BUTTER (Issues 5, 6, 7, 11, 12, 13)
b- BLUE GOLD (Issues 14, 15, 16, 17, 18, 19)
c- FREEZE-DRIED PAPAIN (Issues 20, 21, 22 and here)
d- KENAF (Issues 23, 24)
e- VEGETABLE OIL (Issues 25, 26, 27 and 28)
f- CEREALS (Issues 30, 31, 32, 33)
g- FRUITS (34, 35, 36, 37)

- TROPICAL FRUITS INDUSTRY AS INCOME BUILDING POWER FOR AN AFRICAN COMMUNITY / PART V : INTRODUCTION TO TOMATO AGRIBUSINESS

Dr. Quenum personal archive / A high yield tomato plant

Tomato, the popular red / greenish fruit is one of the most cultivated vegetable on the earth. The pillar of kitchen garden's beds of the backyard gardener, that always is the companion of salads, various foodstuff compositions and sauces may find soon another usage as treatment against cancer. (Tomatoes are rich in vitamins A and C and are a major source of lycopene, a compound that researchers think may help the body combat cancer.)

More than 40 million metric tons of the fruit are grown worldwide each year by small gardeners. Big agribusiness concerns around the world produce year in year out around 27 to 30 million metric tons. California alone standing for one third of world production. See table N° 1 below for statistics.

There are more than 4,000 varieties of the tomato, ranging from the small, marble-size cherry tomato to the giant Ponderosa that can weigh more than 1.5 kg

TABLE N° 1
WORLDWIDE PRODUCTION OF FRESH TOMATO
x1,000 metric tons
Years 1999 2000 2001
Mediterranean Basin
Spain 1.504 1.318 1.463
France 371 299 298
Greece 1.245 1.063 939
Italy 5.014 4.875 4.800
Portugal 996 855 917
Algeria 400 300 270
Israel 306 222 144
Jordan 47 71 50
Morocco 125 100 150
Tunisia 730 732 430
Turkey 1.750 1.300 950
Total Mediterranean Basin 12.488 11.135 10.411
North America / Central America
California 11.101 9.239 7.827
Other US States 541 518 499
Canada 488 413 482
Mexico 370 216 136
Total North & Central America 12.500 10.476 8.944
Other Northern Hemisphere Countries
Hungary 97 128 100
Bulgaria 110 90 30
Japan 58 65 60
China 800 1.800 1.000
Total other Northern Hemisphere Countries 1.065 2.083 1.190
Southern Hemisphere
Brazil 1.290 1.200 1.000
Chile 935 925 725
Argentina 330 260 255
Venezuela 45 38 7
Peru 60 70 45
Australia 309 367 380
New Zealand 51 53 53
South Africa 203 180 204
Senegal - - 47
India 125 140 204
Taiwan 13 37 14
Thailand 188 124 140
Total Southern Hemisphere 3.549 3.394 2.990
General Total 29.602 27.088 23.535
Source: adapted from www.tomatoland.com

- SUB-SAHARAN AFRICA IS NON EXISTENT AS PRODUCER

Tomato is a very popular staple and foodstuff in Africa. However, as one can see reviewing figures listed in Table N° 1 sub-Saharan Africa - except South Africa - is non existent as producer. In the contrary it imports large quantities of tomato paste as shown on Table N° 2.

TABLE N° 2
EXPORTS TO AFRICA AND MIDDLE-EAST / Metric tons
1999 / 2000
2000 / 2001
Africa
M/East
Africa
M/East
France
3,300
-
3,450
-
Italy
75,000
105,832
70,000
122,880
Greece
51,128
23,000
37,100
31,500
Spain
6,450
1,700
4,200
1,200
Portugal
1,650
800
1,500
1,100
Turkey
3,100
62,500
7,700
55,000
TOTAL
140,628
193,865
123,950
210,680

- TOMATO'S ECONOMIC DEVELOPMENT IS AN OPPORTUNITY FOR GRAB!

Africa's import figures listed in Table N° 2 are clear evidence that there is an opportunity to establishing tomato development as Income Building Power for an African community. Tomato development complies with the concept of economic catalyst as here exposed.

Indeed, fresh tomato can undergo many sorts of transformation to producing:

1- Peeled canned tomato
2- Sun dried tomato
3- Tomato powder
4- Tomato paste
5- Tomato sauce
6- Ketchup
7- Tomato juice as beverage and so on.

Let's consider few economic facts concerning some of above listed tomato products:

1 - The international market of tomato paste


a - Production


Two main regions dominate the production of tomato paste :

- The Mediterranean basin produces about 1.7 million tons of tomato paste per year, from 10 millions tons of fresh tomato.
- The state of California (USA) produces yearly around 500,000 tons of tomato paste. (However 7 to 10 million tons of fresh tomato are industrially handled to produce other kinds of tomato byproducts)

The production of the Mediterranean basin - dominated by Italy, Greece and Turkey - is the only one which provides for the international trade of tomato paste.

b - The cost of the raw material


The Mediterranean basin tomato paste's industry is a subsidized one. The European Union ruling body : "The Commission" had set up a subsidy scheme which helps industrialists of the sector to purchase raw material (fresh tomatoes) at a discount-price. That is the reason why tomato paste produced by the Southern European states are very competitive on foreign markets particularly in Africa and the Middle-East.

c - International trade

The international trade of tomato paste is controlled by the Mediterranean basin's producers and particularly those of the European Union. California is quite nonexistent.

Africa and Middle-East import small cans for final consumption. America imports in bulk (barrels) for further reconditioning or transformation to more elaborated tomato products. Saudi Arabia market stands for 40 % of the Middle-East market and is a very attractive one if prices are competitive.

2 - Peeled tomato market

The European Union is the first producer of peeled tomato. Its production amounted to 1.8 million metric tons in Year 2000 and exports to 869,491 tons. The producers from other regions of the world are not big exporters, except the United States of America which exports about 175,000 tons per year to Canada and South America. The European Union (Italy, Spain, Greece, France) exportations in Year 2000 (869,491 metric tons) were mainly intra-community exchanges (two third) dominated by Italy up to 90 % of the total. North America imports 170,000 tons of the European Union exports. Middle-East imports 30,000 tons and Africa 4,500 tons. Italy offered prices on Africa and Middle-East markets are very competitive.

- ESTIMATION OF THE POTENTIAL MARKET EXISTING FOR FRESH TOMATO IN SUB-SAHARAN AFRICA

Industry statistics for well managed tomato plantations established from high yield varieties of tomato seeds (roma, san marino and so on), and optimal tomato pasta processing conditions, reveal that the necessary quantity of fresh tomato to producing 1 kg of double concentrated tomato pasta at 28° I.R. is around 5,89 kg.

If plantations are not well managed (insufficient manure, excessive sunshine, imperfect or non existent irrigation and so on) and if processing conditions are not optimized, the amount of fresh tomato needed to producing 1 kg of double concentrated tomato pasta at 28° I.R. could jump to 8- 9,2 kg

- If we consider operation under best conditions for plantation management and pasta processing, figures listed in Table N°2 allow for the following rough estimation of the quantities of fresh tomato that could be cultivated in sub-Saharan Africa: 5,89 x 142,000 = 832,000 - 247,000 (production of South Africa + Senegal) (see Table N°1) = 585,000 metric tons.

Next Issue 39 (July 15- August 14, 2002) will deal with cost of production of one metric ton of fresh tomato per hectare of plantation.


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