Officials cut Aussie wheat hopes, but stand by export forecasts

AUSTRALIA - US officials stood by expectations for near-average Australian wheat exports this season, despite following other commentators in downgrading their estimate for the drought-hit harvest to a 10-year low. The US Department of Agriculture's Canberra bureau cut to 20.0m tonnes its estimate for the newly-started harvest, citing the "poor rainfall and high temperatures across…

Zimbabwe denies food insecurity fears

ZIMBABWE - Zimbabwe has in excess of 700,000 tonnes in grain and Government has put in measures that will ensure that no one will starve before the next harvest, Acting President Emmerson Mnangagwa has said. Acting President Mnangagwa said this in the National Assembly yesterday while responding to a question by MDC-T Bulawayo Representative Dr…

Report shows one million at risk of hunger in Zimbabwe

ZIMBABWE - At least one million food-insecure households in Zimbabwe are at high risk of exhausting their food stocks between January and March next year despite the bumper maize harvest recorded this year, a United Nations agency has warned. Unicef in its end of September 2017 situational report highlights that there would be food insecurity,…

SA sees record maize crop even bigger in last estimate

SOUTH AFRICA - South Africa boosted its final estimate for this year’s record crop as the pace of deliveries continues to point to a bumper harvest. Growers will probably reap 16.74 million metric tons of corn in the 2016 to 2017 season, Lusani Ndou, a senior statistician at the Pretoria-based Crop Estimates Committee, said by…

GEA acquires Italian pasta equipment maker, Pavan Group

GERMANY - GEA, one of the largest suppliers of process technology for the food industry has acquired the Italian Pavan Group, a leading supplier of extrusion and milling technology for processing of all kinds of pasta, snacks and breakfast cereals. Pavan Group had in 2016 generated revenue of around US$182.5 million, with EBITDA of almost…

World wheat sowings for 2018 to see ‘only modest’ growth – IGC

WORLD - World wheat sowings will see "only modest" growth despite the lure of higher prices, the International Grains Council said, seeing area in the European Union, the top grower, as "broadly unchanged". The International Grains said that world wheat prices are "more than 10% higher year on year as northern hemisphere growers plant winter…

Honeywell Flour Mills posts US$12m profit

NIGERIA - Shareholders of Honeywell Flour Mills Plc last Friday approved N475.812 million for the year ended March 31, 2017. The dividend, which translates to six kobo per share, was approved at the annual general meeting (AGM) of the company held in Lagos. The company recorded revenue of N53.23 billion (US$148m), up by five per cent…