Flour Mills of Nigeria undertakes wheat seeds multiplication initiative

NIGERIA - Flour Mills of Nigeria has announced that it is undertaking a wheat seeds multiplication initiative by cultivating 75 hectares of wheat farms in Nigeria, according to the newspaper PM News. The company has made the program possible by providing farmers with certified and high-quality wheat seeds and fertilizers. In addition, through a collaboration…

South Africa reduces wheat import tariff by 45% in March

SOUTH AFRICA - South Africa’s wheat imports tariff has declined by 45% to US$32.78 per tonne following a drop in international wheat prices, based on a report by the Agricultural Business Chamber (Agbiz). The reduction is a reprieve for millers such as Pioneer Foods, Godrich Flour Mills, Premier Foods Ltd and others who have been…

Dairygold’s operating profit jumps 85% on higher milk volumes

IRELAND - Dairygold, Ireland’s cooperative that produces premium cheeses & dairy nutritionals has reported an improved operating profit of US$39.92million from US$21.56 million in 2016, which amounts to a change of 85% generated from a turnover of US$1.18m (up 28% on prior year). A higher turnover was contributed by continued milk production expansion on milk…

Lower corn sales plunge Monsanto’s Q2 revenue with 1.1% fall in net sales

USA - Monsanto, the publicly traded American multinational agrochemical and agricultural biotechnology corporation has reported a 1.1% fall in net sales to US$5.02bn in the three months ended February 28 compared to a year earlier. The company recorded US$181m drop in corn seed sales, US$181m drop in corn seed sales with US sales being the…

China’s agri-company buys 25% stake in Ausnutria Dairy Corp. for US$250m

ASIA - CITIC Agri Fund Management Co Ltd, the private equity arm of CITIC Securities Company Limited has acquired a 25.18% stake in an investment holding firm, Ausnutria Dairy Corp. for US$250million to become the company’s largest shareholder. In a filing to the stock exchange reported by Reuters, Ausnutria said that CITIC Group Corp Ltd,…

Accor SA acquires 50% stake in Mantis Group to expand into African hotel market

SOUTH AFRICA - Accor SA, the French multinational hotel group has expanded its reach into the African continent by acquiring a 50% stake in the South African- based Mantis Group, according to Business Report. Mantis group, traded under the name, Mantis Collection is an exclusive collection of privately owned, award-wining, star properties all around the…

Nestle announces plan to make its packaging 100% recyclable or re-usable by 2025

SWITZERLAND – Nestlé, a Swiss transnational food and drink company has announced its ambition to make 100% of its packaging recyclable or re-usable by 2025. Nestlé believes that there is an urgent need to minimize the impact of packaging on the environment, with a vision that none of its packaging, including plastics, ends up in…

Skol Brewery Rwanda upgrades with its Global Water Engineering waste-to-water technology

RWANDA - Skol Brewery has upgraded its Rwandan Kigali plant with Global Water Engineering (GWE) world-class waste-to-energy technology that turns wastewater organic pollutants into biogas, or green energy, to profitably power plant boiler equipment while achieving high environmental benefits. Skol Kigali’s new continuous system highly efficiently removes organic waste material from production wastewater, converting more…

Firmenich begins construction of its new world-class manufacturing facility in China

SWITZERLAND – Firmenich, the world’s largest privately-owned company in the fragrance and flavor business, has officially started the construction of its new world-class manufacturing facility dedicated to flavors in Zhangjiagang, China. The symbolic ground-breaking ceremony was attended by local dignitaries and authorities, including the Secretary of Communist Party of China of Zhang Jia Gang city.…

Cargill reports financial results for fiscal 2018 third-quarter

MINNEAPOLIS - Cargill has reported financial results for the fiscal 2018 third quarter and first nine months ended Feb 28, 2018, reporting a 22% decrease in its net income from last year’s US$715 million. According to the company, these earnings included a net charge of US$161 million related to the recently enacted U.S. Tax Cuts…