Kellogg’s exits Venezuela placing blame on country’s ‘economic crisis’

USA - The US-based multinational food manufacturing company, Kellogg’s has announced it has pulled out of Venezuela citing the country’s economic hard times that were characterized by hyper-inflation and strict price controls. According to FoodBev, the company’s product distribution in Venezuela had been suspended and the license agreement for the use and commercialization of its…

Nigeria’s maize output may fall 7% amid rising imports, pests

NIGERIA - Corn output for the 2017-18 season will probably decline by as much as 750,000 metric tonnes due to the impact of pests and increased imports, according to the Maize Association of Nigeria. Bloomberg sources quoted the President, Maize Association of Nigeria, Tunji Adenola, as saying that Nigeria was estimated to produce 10 million tonnes of…

Syngenta to acquire Nidera Seeds from COFCO

SWITZERLAND – Syngenta has entered a binding agreement to acquire Nidera Seeds for an undisclosed sum in an announcement by the Swiss agri-business giant and Chinese grains trader China National Cereals, Oils and Foodstuffs Corporation (COFCO) The Chinese-state owned food processing holdings company COFCO International is the country’s largest food processor, manufacturer and trader, which focuses on…

Natfoods invests US$7.7m in contract farming

ZIMBABWE - Listed firm, National Foods has invested $7.7 million through Paperhole Investments Commodities towards contract farming for the 2017-2018 summer cropping season. The NatFoods scheme comes at a time when farmers are increasingly turning to contract farming and joint ventures for inputs and equipment at lower interest rates compared to banks. For years, farmers…

Briess announces a US$17m expansion of its barley facility in USA

USA - Briess Malt & Ingredients Co. has announced that a US$17 million expansion of its barley processing and malting facility in Manitowoc, Wisconsin US scheduled to start immediately. Briess’s investment plan includes replacing an aging structure and installing a roaster and automated packaging line for the production and packaging of specialty malts. “Now all…

Farmers start wheat deliveries to Grains Board

ZIMBABWE - Farmers have started delivering their winter wheat to the Grain Marketing Board (GMB) depots across the country. Most of the farmers who are delivering the crop are the ones who benefited from the Command Agriculture programme. Agriculture, Mechanisation and Irrigation Development Deputy Minister (Cropping) Davis Marapira confirmed that wheat harvesting had started in…

U.S. Grains Council adds regional staff to expand global presence

USA - The U.S. Grains Council has added staff and promoted others in its Asian, Latin American and African operations as part of a global resource expansion meant to capture near-term demand for grain sales and build long-term demand for ethanol among global customers. The trade organisation that seeks to improve exports of US grain…

Argentine grain output prospects receive double boost

ARGENTINA - Argentine grain harvest prospects received a double boost as officials forecast a further increase in corn sowings in 2017-18, while upgrading their area estimate for the newly-started wheat harvest. The Argentine agriculture ministry, in its first forecast for corn sowings for 2017-18 for all purposes, including silage, pegged them at 8.9m hectares, a…