The bank is designed to safeguard Iraq’s local crop varieties, wild relatives, and traditional seed material, which face increasing pressures from water scarcity, salinity, heat, and changing farming systems.
The facility can process 70,000 tonnes of raw materials a year, turning shea into butter and soybeans into oil and oilseed cake.
The investment will support international field trials, research and development, and partnerships with seed companies as the business expands its portfolio of crops designed to withstand environmental stresses.
Key international wheat buyers from Egypt to Bangladesh are grappling with severe supply chain and trade-flow disruptions as intensified attacks on Black Sea regional infrastructure persist for a third consecutive month.
The congestion is affecting nearly all fertilizer producers operating in the region and is tightening near-term urea availability ahead of expected demand from major importers, including Brazil.