Ethiopia’s Assela Malt Factory to triple annual production

ETHIOPIA – Assela Malt Factory, the leading malt supplier to most Ethiopian breweries, has unveiled plans of increasing its annual malt production to 100 000 tonnes, reports New Business Ethiopia. Currently, the factory operates at a production capacity of 36 000 tonnes of barley annually covering between 25-30% of the demand of malt in Ethiopia. The formerly state owned malt factory was recently sold to Oromia Cooperatives Union – an Ethiopian farmers owned cooperative – in May 2018, for US$48.8 million (1.3 billion birr) after being run by the government…

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Ethiopia’s Tiret Corporate invests US$1.65m in new milk processing plant

ETHIOPIA – Tiret Corporate, an Ethiopia based private equity firm, is investing US$1.65 million (47 million Br) in establishing a new dairy processing plant in Amhara Regional State, reports Addis Fortune. The investment under TZA Dairy & Processing Plc will sit on a 133ha land designated for both dairy cattle rearing and establishment of a dairy processing plant. According to the project manager, Esayas Zerayakob, TZA Dairy processing plant will have a capacity to process 20,000 litres of pasteurised milk per day while the firm plans to kick off cattle…

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Ethiopia’s US$10bn Agro-processing parks set for completion by June

ETHIOPIA – Ethiopia is set to complete construction of its 4 pilot Integrated Agro-Processing Industrial Parks (IAIPs), an investment worth US$10 billion, by the end of June this year reports Ethiopia News Agency. The pilot agro-processing parks have been under construction since 2016 and features; a Baeker for sesame, sorghum and livestock; Bulbula for cereal and milk; Bure for cereals, pulses and spices, and Yirgalem for coffee, fruit and vegetables. The mega project was scheduled for completion by December 2018 but Ayalneh Abawa, Advisor for Integrated Agro-processing Parks in the…

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South Africa’s poultry producer Astral Foods reports decline in operating profit

SOUTH AFRICA – South Africa’s integrated poultry producer, Astral Foods, said its operating profit for the first quarter of its 2019 financial year was significantly low blaming low consumer spending and high poultry stock for the decline. Astral said that constrained consumer spending in the country had a significant effect on the average selling prices, reports Business Report. “It must be noted that the previous year’s results for the same period were at a record historical high, benefiting at the time from low feed costs following a record maize crop…

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Carlsberg revenues rise 3% in the year over good craft beer sales

DENMARK – Global brewer, Carlsberg has reported better results in the year where net revenues rose 3% to US$9.53 billion (DDK 62.5 billion) boosted by strong performance of its core and craft beer brands. Total organic volume grew 4.8% while the company reported 11% increase in organic operating profit. Craft & speciality portfolio delivered growth of 26%, with international speciality brands Grimbergen and 1664 Blanc and craft brands such as Brooklyn performing strongly. Carlsberg which makes brands such as Tuborg, Carlsberg, Grimbergen, 1664 Blanc recorded sales volume growth of 3.6%…

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Kenya’s retailer Ukwala mulls exiting business over unpaid debts

KENYA – Kenya retailer, Ukwala Supermarkets has applied to the court for the permanent closure of business revealing that it was unable to finance its nearly US$10 million accumulated debts, reports Business Daily. Ukwala director Vijay Jayantilal Dodhia attributed the fate facing the firm on heavy losses as a result of hard economic times and unfair business competition from other players. In November 2017, the retailer filed for liquidation informing the court that it was unable to remain afloat after accumulating debts amounting to US$9.28 million against its assets valued…

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Cargill unveils new line of palm oil shortening for bakery applications

USA – The privately-owned global corporation, Cargill has launched a new line of palm oil shortening to meet a range of challenges witnessed by bakers in various applications. Developed by a team of 1,500 food scientists, the new product called PalmAgility™ can be used in making cookies, pies, donuts and crème filings. The product is available in four variants that is, All-Purpose Shortening, Filling Fat Shortening, PalmAgility 213 and 217 Donut Frying Shortenings. The company said the shortening was tested at its Food Innovation Center and has proved to help…

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Kenya’s Nzoia Sugar Company to pay cane growers US$5.1m

KENYA – Kenyan sugar company, Nzoia Sugar Company, is set to pay sugar cane growers US$5.1 million for the produce delivered to the miller during the 2017/2018 financial year, reports Business daily. The company’s board chairman, Joash Wamang’oli made the announcement following the government’s decision to provide US$26.9 million aimed at revitalising the sugar industry. “As a company, we are grateful to the government for releasing the Sh579 million (US$ 5.1 million), which will be paid directly to farmers’ bank accounts. “It is now clear that the sugar sector is…

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Kraft Heinz secures distribution partnership with Indo Nissin Foods

INDIA – Global food company, Kraft Heinz has entered into a distribution partnership with the Indian subsidiary of diversified Japanese food maker Nissin Food Products to commercialize its food products in India. Indo Nissin will distribute Kraft Heinz existing products like ketchup while the deal may also involve new product launches by the company in the country. Kraft Heinz is looking to utilize the global distribution network and marketing expertise of Nissin, which has a strong market presence in India. According to Indo Nissin managing director, Gautam Sharma, the company…

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Burton’s Biscuit Co. acquires UK savory biscuit maker Thomas Fudge’s

UK – British biscuit manufacturer, Burton’s has acquired premium sweet and savoury biscuit manufacturer, Thomas Fudge’s from UK leading private equity investors, Livingbridge for an undisclosed sum. Burton’s said with the acquisition, it is in a position to strengthen its course in becoming a leader in savory baking as well as foster growth in the sweet confectionery category. It enables the company to meet the growing need for nibble and savory biscuits by utilizing local sourcing and artisan craftsmanship for recipes passed down from generation to generation. According to the…

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