National Foods posts 25% rise in profits favored by new political regime

ZIMBABWE - Zimbabwe’s largest milling company, National Foods Ltd has managed 25% rise in profits to US$17.174 million for the year ended 30 June 2018 and expects to benefit from better economic environment for its business following a new political dispensation. The group noted that this could only be possible if the ruling regime focused…

Tanzania secures coffee, tea and legumes market in China

TANZANIA - Tanzania Trade Development Authority (TTDA) has said that the country has secure d a market for coffee, cashew nuts, ginger, tea, peas, and legumes in China where there is high demand for the commodities. Daily News reports that the development was announced by TTDA Director General, Mr Edwin Rutageruka after the Asian country…

Keurig Dr Pepper to acquire CORE Nutrition LLC for US$525m

USA - Keurig Dr Pepper, an American beverage-maker conglomerate, has announced that it has entered into a definitive agreement to acquire CORE Nutrition LLC at a value of US$525 million, or approximately US$435 million net of anticipated tax benefits. Founded in 2015, the rapidly growing Core Nutrition portfolio includes CORE Hydration, a premium, nutrient-enhanced bottled…

Germany set to become a net grain importer on drought related losses

GERMANY - Germany is expected to increase imports of soybeans, soybean meal and become a net importer on production losses related to drought, ‘a weather incident of national extent’, said a report from the U.S. Department of Agriculture's Global Agricultural Information Network (GAIN). As a result of drought and hot weather, Germany’s Agriculture Ministry in…

Ghana and Ivory Coast launch Hortifresh programme to boost horticultural production

GHANA - Ghana and Ivory Coast have launched the Hortifresh West Africa Programme to boost horticultural production and exports, reports GNA. The programme, supported by the Netherlands aims to establish a sustainable and internationally competitive fruit and vegetable sector that would contribute to the inclusive economic growth and nutrition security. The core activities of the…

China’s grain imports fall on rising prices and impact of US tariffs

ASIA - China’s sorghum imports in July declined by 62.5% to 220,000 tonnes from 588,364 tonnes a year ago, impacted by heavy tariffs imposed on shipments from the United States and rising international prices, reports Reuters. According to data from the General Administration of Customs, the imports were also below June’s 450,000 tonnes when buyers…

Simbisa Brands revenue increases 33% as it consolidates regional hold

ZIMBABWE - Zimbabwe’s Quick service restaurant (QSR) group, Simbisa Brands Limited’s revenue for the year ended 30 June increased 33% from US$151.1 million to US$204.7 million on expansion, consolidation and acquisitions in the regional markets. The group recorded growth in earnings attributed to increased operating efficiencies and higher revenue streams. Operating profit rose 60% to…

Tanzania Breweries half year profit falls 16% on difficult business environment

TANZANIA - Tanzania Breweries Ltd, the country’s largest brewing company has reported 16% decline in profit to US$28.25 million for the six months ended June 2018 due to challenging business environment, reports Daily News Tanzania. Revenue dropped by 3% to US$213.53 million impacted by heavy rains in the months of April and May. TBL’s first…

Dairygold Food Ingredients launches new value-added cheese range

UK - Dairygold Food Ingredients (DFI), a supplier of premium cheeses & dairy nutritionals made from milk whey & casein, has launched a new exciting range of added value cheeses. The new range, according to the company, marks the beginning of a New Product Development (NPD) strategy for the company, with the aim of enabling…

Hormel Foods to invest US$150m for expansion of Burke facility in Nevada

USA - Hormel Foods Corporation, a global branded food company, has announced that it will be investing approximately US$150 million in an expansion of the company’s Burke manufacturing facility in Nevada, Iowa. Burke is one of the leading providers of pizza toppings and other fully cooked meat products in the foodservice and prepared food industries.…