Ghana’s food processor Samba Foods posts massive sale revenue

GHANA - Samba Foods Limited, Ghana’s food processor and preservation business has reported 117% sale revenue of 2016 receipts for the 2017 financial year, reported GNA. Speaking at the company’s annual general meeting, Mrs Leticia Osafo-Addo, Managing Director, told shareholders that the year 2017, though a tough one for industries in general proved to be…

Australia’s GrainCorp opens branch in Ukraine

UKRAINE - GrainCorp, the Australian grain and related commodities handler has opened a new company in Ukraine to provide its customers with agricultural raw materials, grains, seeds and animal feeds. In reference to data from the Ukrainian state registry, Reuters reported that the new firm, GrainCorp Ukraine Ltd, was registered on May 14 within the…

Zambeef reports 6% growth in revenues driven by macro-store demand

ZAMBIA - Zambeef Products Ltd has reported 6% growth in revenue driven by increasing volumes and improving margins in the core divisions namely Retail & Cold Chain Food Products, and Stockfeed for the first half of the financial year ended 31 March 2018. Profit after tax increased more than three-fold to US$2.25 million as compared…

Kenyan macadamia farmers’ earnings increase by Ksh.7.04b on quality boost

KENYA - The new macadamia market in America last year lifted prices by 24% to earn farmers Sh7.04 billion, according to Business Daily. A report by the Agriculture and Food Authority (Afa) shows a total of 5,526 metric tonnes was exported, up from 5,423 metric tonnes of processed macadamia nuts worth Sh5.7 billion sold abroad…

Global probiotic market to grow US$64b in Latin America and Asia

USA - The global probiotics market is projected to grow to US$64 billion at a compound annual growth rate (CAGR) of 7% through 2022, according to Ingredients. While all regions are expected to experience growth, the fastest region is Latin America, with Brazil contributing to 52% of the area’s total probiotic market. With the rising…

New KCC invests US$9.9m in upgrading factories

KENYA - New Kenya Cooperative Creameries (KCC), the government-owned, second largest dairy processor in Kenya has invested more than US$9.9m in modernizing its factories in a bid to improve production and increase local market share. The Nation reports the investment is geared at increasing the company’s capacity from the current annual pay-out to farmers of…

Givaudan completes acquisition of 40.5% stake in Naturex

SWITZERLAND - Givaudan has completed the acquisition of 40.5% stake in Naturex, a French manufacturer of natural specialty ingredients for the food industry for US$648m. As announced in March this year, Givaudan has confirmed the intention to launch a mandatory cash tender offer for all remaining outstanding shares of Naturex, at a price of US$168…

Tanzania’s coffee production to increase 15% on ‘favorable weather’

TANZANIA - Tanzania’s coffee production will increase 15% from 1.15 million bags to 1.30 million bags in the year 2018/19 as a result of biennial bearing cycle and favorable weather conditions as reported by Tanzania Meteorological Authority (TMA). The USDA’s GAIN report indicates that ending stocks for financial year (FY) 2018/19 are forecast up by…

Indian Unilever subsidiary to merge food and refreshments division

INDIA - Hindustan Unilever Ltd (HUL), the Indian subsidiary of Unilever N.V has announced that it will combine its foods and refreshments businesses effective July in order to advance growth in line with global category structure of the parent company Unilever. The combined food and refreshment segment will be headed by Sudhir Sitapati, currently the…

McDonald’s India posts US$45m loss with write-offs in the full year

INDIA - McDonald’s India, the fast food restaurant and company has reported a US$45.50m loss in full year results ended March 2017, following several write-offs in investments in its joint venture with Connaught Plaza Restaurants (CPRL). ET Retail reported that the burger and fries chain is still operating its outlets at a loss in India.…