User:Lmmfarine/Les moulins de madagascar

Les Moulins de Madagascar (LMM Farine SA)

Seaboard first arrived in Madagascar in 2006 under LMM sarl. Since mid-November 2010, Seaboard is operating in the big island under LMM Farine SA, 100% owned by Seaboard. The company is renting the industrial milling assets of a local company called KOBAMA SA; mainly consisting of a 288 MT Bühler flour mill. The company is also under contract with SPAT, the State owned company managing the sea port of Toamasina/Tamatave, on the east coast. The contract is to manage the 26,000 MT storage capacity grain silos. Due to huge very cheap flour imports mainly from Turkey, Egypt and India, LMM Farine SA is currently not able to use all the milling capacity at its disposal. These last months, the company only worked at around 50-60% of its full capacity. Imported flour as well as imported wheat for the local milling industry are both paying a VAT of 20%. There is no incentive for the local industry for milling in the country, giving jobs, paying taxes and being integrated in the national economy.