Al Barbarino
The new funding will help boost the company’s Canadian operations with equipment upgrades allowing for year-round production and support the construction of new facilities in Ohio.
The funding will be used to it will be used to further develop American Robotics’ integrated drone system for commercial farming and to expand its team.
The investment marks Spice’s first since revising its investment strategy in July 2016 to focus on direct investments.
The Church of England’s timber portfolio delivered a 24.3% return compared with the fund’s 17.1% total return.
A Cargill spokeswoman called the deal a “significant development.”
The funds were pooled from members of the Farm Credit System, a nationwide network a group of banks and lenders chartered to serve agriculture and the US rural economy.
“The recovery in agriculture and mining will drive growth this year,” according to a statement from the organization.
As of March 31, 2016, the Natural Resources portfolio held assets of $2.5bn, 16.8% of which represented agriculture.
China will allow US beef imports as soon as possible but no later than July 16, 2017, while the US will publish a proposed rule by that same date that will allow imports of cooked Chinese poultry into the US.
The fund will invest in “high-potential, early-stage food and agriculture companies” that are aligned with aligned to Rabobank’s “Banking for Food” strategy in the US and Western Europe.
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