Astral Foods profit soars 78.7% on lower chicken feed costs in 2018

SOUTH AFRICA – South Africa’s leading integrated poultry producer Astral has reported 78.7% increase in group operating profit to US$134.99 million, resulting in an operating profit margin of 15%, ANA reports. According to the company, the year was supported by lower feed raw material costs, higher poultry selling prices as well as higher volumes across…

USDA and FDA to jointly regulate animal cell-cultured food products

USA - The United States Department of Agriculture (USDA) and Food and Drug Administration (FDA) have reached a consensus that both the agencies should jointly oversee the regulation of cell-cultured food products derived from livestock and poultry. The joint regulatory framework will see FDA oversees cell collection, cell banks, and cell growth and differentiation. A…

Bill Gates backed meatless burger maker Beyond Meat files for IPO

USA(Bloomberg) - Beyond Meat Inc., the maker of vegan chicken and beef substitutes including the Beyond Burger, filed for a U.S. initial public offering. The company filed with an initial offering size of $100 million, which is a placeholder that’s likely to change. The company’s backers include Microsoft Corp. co-founder Bill Gates and Don Thompson, McDonald’s Corp.’s…

Bidco Land O’Lakes launches new ‘Kienyeji’ poultry diet in Kenya

KENYA – Bidco Land O’Lakes, a feed-focused joint venture between the American agricultural cooperative Land O'Lakes and Bidco Africa has launched new ‘Kienyeji’ four phase diet for the indigenous chicken. The Kienyeji Feed is expected to improve the rearing of the local poultry raised on either free range or in confinement. According to Bidco Land…

Nigeria launches first livestock ecommerce platform to transform the sector

NIGERIA – Nigeria has launched the country’s first online livestock market that will connect both the buyers and sellers on a 24-hour basis, every day of the week, reports ThisDay. The system called Livestock247.com, will allow organized transactions by linking different players in the sector including livestock stakeholders, buyers, sellers, ranchers, livestock merchants, veterinary professionals,…

Ingredion launches new clean label potato fiber for meat and savory applications

USA – The food and beverage ingredient corporative, Ingredion has expanded its portfolio with a new clean label potato fiber for bakery, savory and meat products applications. The new Potex and Potex Crown potato fibres allows manufacturers to achieve appealing textures in processed meats and savory applications while in bakery, they optimize consumer appeal. They…

JBS signs US$1.5b meat supply deal with Alibaba’s Win-Chain

USA – The American meat processor, JBS has secured a three-year supply deal with Alibaba’s data-driven global sourcing platform for perishable food, Win-Chain to increase its meat export to the Chinese market. The deal which include beef, poultry and pork products will see JBS start supplying Win-Chain within the next 30 days. As part of…

2 Sisters sells Manton Wood sandwich business to Samworth Brothers

UK - 2 Sisters Food Group has agreed to sell its Manton Wood sandwich business to Samworth Brothers for an undisclosed sum to enable it focus on key operations. Samworth Brothers is a Leicester based food manufacturer, the owner of Cornish pasty maker Ginsters and the largest maker of certified Melton Mowbray pork pies. According…

Premier Fishing reports 40% rise in profits helped by Talhado acquisition

SOUTH AFRICA – South Africa’s Premier Fishing has reported a 40% increase in full-year net profit to US$6.49 million boosted by strong sales volume, good catch rates and acquisition of squid fishing business, Talhado, According to Business Day, the landed and sales volumes for the squid division more than doubled in the year to ended…

Karan Beef and PIC deal to go ahead despite collusion fine

SOUTH AFRICA – The Competition Commission has said that Karan Beef’s collusion fine may unlikely affect its buyout deal with the Public Investment Corporation (PIC), reports Business Day. “In no way does this investigation into Karan Beef and the fine affect the PIC’s deal with Karan Beef,” said David Maimela, the commission’s acting chief of…