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Campbell Soup has announced that its CEO Denise Morrison abruptly decided to step down effective today and she has been replaced by Keith McLoughlin, who joined the company's board in 2016, as CEO on an interim basis.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…

Walmart’s revenue beat forecasts reaping big on online sales

USA - The American retail giant, Walmart’s revenue rose almost 2% higher than the forecasts to US$122.69 billion boosted by US online sales which grew 33% in the quarterly results. Earnings were up to US$1.14 cents per share as opposed to US$1.12 per share forecast by Thomson Reuters. Walmart e-commerce push reaped well on high…

Arla Foods butter brand expands with launch of Lurpak Softest

UK - Arla Foods, a global dairy company and co-operative, has expanded its number one butter brand to Lurpak Softest; a new soft blend butter that is spreadable straight from the fridge. Lurpak is UK’s number one butter brand, which has now combined the great taste that Lurpak is renowned for with the softest, most…

2 Sisters appoints Ronald Kers as new CEO

UK - 2 Sisters Food Group, Birmingham based privately owned food manufacturing company, has appointed former global CEO of Muller, Ronald Kers as its new Chief Executive Officer effective 1 June 2018. He joined Muller in January 2017 as UK CEO, combining periods of service from Nestle SA where he joined in 2003 responsible for…

China’s dairy market to reach US$54.9b with steady high value retail sales growth

CHINA - China’s dairy market will grow at a 6.6% CAGR in value to reach US$54.91billion in 2022 led by yogurt and cheese markets which are experiencing steady high value retail sales growth, according to a new research from Mintel. The report indicates that yoghurt maintains an annual retail sales growth of over 20% since…

Olam profit grows despite 10.5% drop in revenue for confectionery and beverage

SINGAPORE - The global agribusiness company Olam International, has reported profit growth in the 2018 first quarter results despite 10.5% drop in revenue for its confectionery and beverage segments on both lower volumes and prices. Olam reported US$274.18 million in EBITDA lower than that of Q1 2017 which stood at US$296.9 million. During the quarter…

Chr. Hansen reveals probiotic strain that protects from painkillers’ effect

DENMARK - Chr. Hansen A/S, the global bioscience company has completed a clinical trial using a carefully selected probiotic strain that protects the gut against side effects caused by painkillers. The company said the trial which used capsule endoscopy to reveal GI damage, has reached both the primary and secondary end-points of trial indicating ability…