Zimbabwe’s poultry sector recorded 19% decline in output in first quarter

ZIMBABWE – The poultry industry in Zimbabwe recorded a 19% decline in output during the first quarter of the year attributed to a decline in demand and supply in the sector. Zimbabwe Poultry Association (ZPA) chairperson, Solomon Zawe, said that during the period under review, the sector witnessed high cost of feeds forecasting similar conditions…

Cold Storage Company enters into a US$130m joint venture with UK’s Boulstead Beef

ZIMBABWE – Zimbabwe’s cabinet has approved a joint venture between the Cold Storage Company (CSC) and a United Kingdom firm, Boulstead Beef (Pvt) Limited, which will see the investor inject US$130 million into the meat processing firm. Monica Mutsvangwa, Information, Publicity and Broadcasting Services Minister, revealed that the agreement will also enable the meat processor…

Cargill invests in Israeli startup Aleph Farms to underpin protein focus

ASIA – Cargill is investing in Israeli cultured meat company, Aleph Farms which has raised US$11.65 million in a series A round of funding. According to Cargill, the investment diversifies its protein interests to meet future consumer demand and complements its focus on animal protein. The round was led by VisVires New Protein and also…

Impossible Foods raises US$300m from investors including celebrities

USA – Impossible Foods has raised US4300 million in series E funding round from investors including celebrities Jay-Z, Katy Perry, Serena Williams, Jaden Smith, Trevor Noah and Zedd. The latest round of funding was led by the company's major, previous investors Temasek, a Singaporean investment company, and Horizon Ventures, a venture capital firm in Hong…

Global food firms commit to phase out industrial transfats by 2023

SWITZERLAND – Global food and beverage companies and members of the International Food and Beverage Alliance (IFBA) have pledged to phase out industrially produced trans-fat from the global food supply by 2023. The twelve food and beverage giants have agreed to adopt enhanced worldwide commitment to phase out industrially produced trans fats (iTFAs) from their…

Astral Foods reports 52% decline in earnings as poultry division declines stumbles

SOUTH AFRICA – Astral Foods, a South African poultry producer, has reported a 52% decline headline earnings for the six months to end-March 30 2019 attributed to a significant decline performance of the poultry division. Despite a 3% growth in revenues to R6.8bn, the company said that higher cost of sales and distribution expenses also…

Kenya’s Livestock sector grows by 7.6% as revenues hit US$1.46bn

KENYA – The livestock sector in Kenya recorded a 7.6% growth in the previous year as revenue generation from the sector hit US$1.46 billion (Sh146bn) in 2018 from US$1.356 billion (Sh135.6bn) in 2017. According to the 2019 Economic Survey report by Kenya Bureau of Statistics (KNBS), the fast growing sector attracted significant investment reflected by…

Tyson Fresh Meats to invest US$300m in a new US food production plant

USA - Tyson Fresh Meats, a subsidiary of the global meat and poultry company, Tyson Foods has unveiled plans to invest US$300 million in a new food production plant in Utah State in the United States. The investment is expected to create 800 jobs, processing beef and pork into steaks, chops, roasts and ground meat…

Oceana lifts profits 16% to US$38.8m on improved catch & sales volumes

SOUTH AFRICA – Oceana Group, Africa’s largest fishing group, reported 16%  increase in operating profit to US$38.8 million (R554m) during the six months to March 30, 2019 supported by increasing canned fish volumes. The fishing giant’s solid performance was also reflected by improvements in revenue supported by improved pricing realised by its export businesses and…

Hain Celestial sells Pure Protein business to Aterian for US$80m

USA – The American organic and natural products company, Hain Celestial has agreed to sell its Hain Pure Protein business to private equity Aterian Investment Partners III, LP for US$80 million. The transaction is subject to adjustments and expected to close before the end of the company’s fiscal year, June 30. The deal includes poultry-based…