72 / SEEDWORLD.COM SEPTEMBER 2018 STATUS BOTSWANA The proposed partial unbun- dling of Seed Co Limited and the subsequent separate listing of its regional opera- tions on the Botswana Stock Exchange will allow the com- pany to pursue its regional expansion projects as it will be backed by the availability of solid hard currency funding. According to an abridged circular to shareholders, the regional listing will set Seed Co International on a path for expo- nential growth as it will allow the company to attract focused capital to recapitalize the busi- ness whenever necessary. “In view of the hard cur- rency funding needs of the group’s regional growth trajectory and the need to unlock, preserve and grow shareholder value, the direc- tors are proposing to partially unbundle through a dividend in specie, and separately list on the BSE the group’s regional operations, which are held through Seed Co International.” As part of the expansion plans, the Private Placement and regional listing will allow the company to acquire regional seed industry play- ers of good strategic fit to consolidate existing market positions. The expansion drive is also expected to go beyond Africa with planned moves into India and Pakistan, making the unbundling plan important in the company’s request to unlock shareholder value. Another plus, even for Zimbabwean sharehold- ers, is that they are set to benefit amid plans for Seed Co International to have a world STATUS A look at seed industry developments around the globe. The only thing certain is change. Around the world, be it leaders in the business world or on the side of government, leaders are changing their strategy to better position their companies and countries to deal with the challenges of not only today, but those of tomorrow. secondary listing on the Zimbabwe Stock Exchange on top of the 29 percent shareholding that will remain with Seed Co Limited. —Source: Chronicle. STATUS MEXICO At the beginning of July, the people of Mexico elected Andrés Manuel López Obrador, a left-of-center populist, as Mexico’s next president. “Mexico is the most important global market for U.S. grains and related products, supported by the most valuable trade agree- ment in place for U.S. grain producers and exporters — NAFTA [North American Free Trade Agreement],” says Tom Sleight, U.S. Grains Council (USGC) president and CEO. “Last year, Mexico was the top buyer for U.S. corn and distiller’s dried grains with solubles, a strong market for U.S. sorghum and barley and an emerging market for U.S. ethanol.” U.S. exports to Mexico benefit from geographic proximity and the duty-free access provided by NAFTA. Mexico set a new record as the largest export market for U.S. corn in 2016/2017, purchasing 13.9 million metric tons (547.2 million bushels) worth $2.5 billion. Mexico was also the top market for U.S. DDGS, importing 2.06 mil- lion tons in 2016/2017. Since NAFTA entered into force, Mexican imports of these two commodities have increased 845 percent and 945 percent, respectively. Mexico continues to rank as the top U.S. corn market in 2017/18 marketing year (September 2017-April 2018), increasing purchases by 8 percent from this past year, despite ongoing NAFTA talks. Mexico is also the No. 1 buyer of U.S. DDGS with the purchase of 1.43 million tons thus far to meet the need for high-quality feed from the country’s livestock sector. “The Mexican election was historic and also injects new elements into the already complicated U.S.-Mexico trading relationship and global grain markets,” Sleight says. “While a cause for vigilance, it is also the best reason to continue our strong engage- ment in Mexico, talking with customers, working with local government officials and com- municating with leaders there and back here in the United States to emphasize how criti- cal this relationship is to our success as an industry.” “As this new uncertainty enters the marketplace and NAFTA negotiations, our staff in Washington and Mexico City will continue working closely with all stakeholders to ensure — as best we can — our trade remains open, fair and beneficial to all parties.” —Source: U.S. Grains Council. STATUS NIGERIA Africa’s most populous country has recorded a major breakthrough in crop biotechnology following official approval and registra- tion of two Bt cotton varieties, MRC 7377 BGII and MRC 7361 BGII.