Fonterra returns to profitability with 2% rise in sales volume, to sell DFE Pharma stake

NEW ZEALAND – The New Zealand dairy co-operative, Fonterra has reported a net profit after tax of US$54.7 million (NZD 80 million), up 123% boosted by increase in sales volume. In the six months ended January 31, revenue dropped 1% to US$6.63 billion (NZD 9.7 billion), impacted by the Consumer and Foodservice Gross Margin which…

Buhler joins the World Business Council for Sustainable Development

SWITZERLAND – The milling equipment and service provider, Buhler has joined the World Business Council for Sustainable Development (WBCSD), a CEO-led organisation that looks to enhance a sustainable way of doing business. Buhler joins more than 200 company members of the organisation with a focus to address some of the world’s pressing challenges and transform…

Kroger agrees to sell Turkey Hill business to private equity firm Peak Rock

USA – Kroger has announced that it has reached an agreement to sell its beverages business, Turkey Hill to an affiliate of Texas based private equity firm, Peak Rock Capital for an undisclosed sum. As part of the agreement, the Peak Rock Capital affiliate will continue to operate the Turkey Hill business out of its…

Ghana’s cocoa regulator secures US$300m facility to boost cocoa production

GHANA - The Ghana Cocoa Board (COCOCBOD), the cocoa regulator in the country has signed a new 3-year receivables-backed trade finance facility of US$300m that aims to boost Ghana’s cocoa production. According to a report by GhanaWeb, the facility will be used to refinance Cocoa Bills raised by Bank of Ghana on behalf of COCOBOD…

Veolia and LEON pilot deposit return scheme to enhance recycling in UK

UK – The European recycling group, Veolia and UK-based restaurant chain LEON have partnered to trial a deposit return scheme in the UK to promote on-the-go recycling. The two have unveiled a reverse vending machine designed to accept plastic bottles and aluminium cans at King’s Cross in central London, UK. The pilot will run for…

Coca-Cola unveils US$38m fund to tackle plastic pollution in Africa

AFRICA – The Coca-Cola Company has unveiled a US$38 million fund to tackle plastic pollution in Southern, East and Central Africa over the next three years. The initiative by the multinational beverage manufacturer is part of global efforts in managing and reducing waste under in the overall ambitions of achieving a world without waste. According…

Starbucks commits US$100m in new investment fund to support food startups

USA – The world’s leading coffee giant, Starbucks has announced that it is committing US$100 million in a new investment firm, Valor Siren Ventures I L.P. (VSV) to support growth of food and retail startup companies. The new venture fund will partner with startup technology companies with a goal to grow the next generation of…

Ghana’s seafood and fish products imports up US$ 311.4m on increasing demand

GHANA - Ghana’s fish and seafood imports in 2018 grew to about US$ 311.4 million on account of increasing demand and dwindling fish stocks. According to a recent report by the Global Agricultural Information Network (GAIN), of the United States Department of Agriculture, the country imported an estimated 370,000 MT in during the period. The…

Nestle Ghana records 12.8% growth during 2018 financial year

GHANA - Nestlé Ghana Limited recorded a 12.8% growth in its 2018 financial year across its business supported by strong performance of the company’s downstream distributors This is according to Ms Philomena Tan, Managing Director of Nestlé Ghana Limited, who was speaking during the company’s recently held distributors’ awards ceremony. She stated that the firm’s…

Nordzucker invests US$114m in Swedish sugar production factory

SWEDEN – The European second largest sugar manufacturer, Nordzucker AG has said that it will be investing US$114 million (100 million euros) at its sugar production factory in Örtofta, Sweden. The company said the move, which was approved by both the executive and supervisory board is part of the strategy to concentrate its sugar production…