The board of Angolan bioenergy company Biocom intends to adopt measures to protect the Angolan sugar industry and to “eliminate unfair competition between domestic and imported sugar,” said the deputy director general.
Luís Bagorro Júnior, quoted by daily newspaper Jornal de Angola, noted that placing sugar produced by the company in the Angolan market has been affected by excessive imports of the product.
The Deputy Director-General, speaking at the end of a consultation meeting between the heads of the plant and the Secretaries of State for Industry and Agriculture, Ivan do Prado and José Carlos Bettencourt, respectively, praised Decree no. 23/2019, which aims to regulate domestic production and create incentives for domestic producers.
He also welcomed the 45% subsidy for agricultural diesel starting in April 2019, which will help the company save US$3 million of the US$8 million it spends annually on fuel.
“This subsidy will make it possible to lower production prices and, consequently, sales prices,” said Bagorro Júnior.
Biocom, which is located in the Cacuso district, 75 kilometres from Malanje, is one of the largest Angolan agro-industrial projects, led by Brazilian group Odebrecht, which owns 40% of the capital of the company. The remaining 60% of the capital is shared by Angolan private-equity group Cochan, with 40% and Angolan state oil company Sonangol, with 20%.