Europe commits to collect 90% of all PET bottles by 2025

EUROPE - Europe’s bottled water industry has committed to major plastic goals to collect 90% of all PET (polyethylene terephthalate) bottles by 2025 as an average across the European Union, the efforts aimed at reducing plastic waste into landfill and oceans. The goal was revised from the previous 60% target and will ensure discarded plastic…

Kraft Heinz profits decline 0.3% in first quarter results

USA - Kraft Heinz profits declined 0.3% to US$893 million in its first quarter ended March results which show net sales declined 0.3% to US$6.3 billion while organic net sales decreased 1.5% compared to the same period a year ago. The company said the financial results reflected higher input costs, lower net sales in the…

Brazil coffee volumes fall as Africa’s production rise 3.2% to fill gap

UK - The world’s leading coffee producer Brazil’s total exports declined 10.5% to 2.52 million tonnes in March and this is offset by increasing coffee production in Africa and other countries, according to the International Coffee Organisation. Brazil is also said to be declining in coffee output in crop year 2017/18 estimated at 51 million…

FrieslandCampina invests in Holland Dairy Ethiopia to boost its presence

ETHIOPIA - Royal FrieslandCampina, the Netherlands based multinational dairy cooperative has joined forces with Holland-based Veris Investments to invest in Holland Dairy Ethiopia in an undisclosed cash injection. Friesland Campina said they were investing in supply chain, production and market development as it seeks to expand its already existing presence in the Ethiopian dairy market,…

FrieslandCampina WAMCO’s sales grew 13.2% despite economic challenges

NIGERIA - FrieslandCampina WAMCO Nigeria Plc, maker and distributor of dairy products has said that sales for the full year 2017 grew 13.2% to US$387.8 million from US$342.78 million in the previous year. According to the company, the financial results for the period were marred with economic challenges including foreign exchange constraints, high inflation rate…

Flour Mills Nigeria enters partnership with DowDuPont for maize hybrid development

NIGERIA - Flour Mills of Nigeria PLC, one of Nigeria’s leading food and agro-allied companies and Corteva Agriscience, Agriculture Division of DowDuPont have entered into partnership for maize hybrid seed development in Nigeria. According to the company, this move reiterates the commitment of Flour Mills of Nigeria Plc (FMN) to be a catalyst in the…

Bunge files to list Brazilian sugar and ethanol business

USA - The global agribusiness and food company has filed a registration for a potential public offering of its sugar and ethanol business, Bunge Açúcar & Bionergia with the Brazilian Securities Commission. With the listing which is subject to market conditions and valuations, Bunge plans to operate the business as a stand-alone entity after obtaining…

Ukraine soybean production to fall 14% in 2018-19

UKRAINE - Ukraine’s soybean production is set to fall 14% to 3.3 million tonnes despite higher expected yields than the five-year average, according to USDA’s Global Agricultural Information Network (GAIN) May 16 report. Soybean planted area for the coming crop year is forecast at around 1.5 million hectares, a 23% decline from 2017-18. While Sunflower…

Bunge considers soybean exports to Argentina

USA - Bunge Ltd, multinational food and agribusiness company is considering exporting US soybeans to Argentina and the move would be ratified depending on the margins. The plans were revealed by Soren W. Schroder, chief executive officer of Bunge at an investor event in New York adding that they look forward to bumping up soybean…

Campbell Soup’s CEO Denise Morrison retires abruptly

USA - US soup maker Campbell Soup has announced that its CEO Denise Morrison abruptly decided to step down effective today and she has been replaced by Keith McLoughlin, who joined the company's board in 2016, as CEO on an interim basis. In a statement Campbell Soup, maker of V8, Pepperidge Farm, Pop Secret and…