Cargill acquires ProPortion Foods to expand presence in value-added protein business

US –American based global food corporation Cargill has expanded its protein product offering though the acquisition of ProPortion Foods, a US manufacturer of meat products including portion control steaks and marinated ready-to-grill meats. The deal includes two plants, in Round Rock, Texas and Vernon, California, which will produce a variety of fully cooked protein products for Cargill’s retail and foodservice channel customers. Commenting on the acquisition, Brian Levy, a partner with ProPortion Foods, said: “We’re delighted that the business and our employees will have the opportunity to grow with Cargill,…

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Israeli startup Better Juice partners food processing tech giant GEA to scale up sugar reduction technology

ISRAEL – Better Juice, an Israeli Sugar-reduction food-tech start-up, is partnering with global food processing technology gaint GEA to scale up its technology In a statement, Better Juice said the partnership is part of its strategy to transform the global juice industry by advancing its technology to reduce all sugars in orange juices. Through the joint venture, Better Juice will have an opportunity to leverage on GEA extensive expertise in food processing and on its global reach to scale up its technology and expand its global footprint. Better Juice and…

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Global food ingredients company Tate & Lyle defies Covid-19 challenges to deliver strong Q3 results

UK – British-headquartered, global supplier of food and beverage ingredients Tate & Lyle has rose above the challenges of the Covid-19 pandemic to deliver an impressive 8% growth in revenue for the three months ended 31 December 2020. The company in a statement attributed the 8% growth in revenue to a higher volume of trade, good prices, a mix management and continued growth from New Products. North America was the company’s most profitable market delivering a double-digit revenue growth. Tate & Lyle attributes this growth to good commercial performance, strong…

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Rising appetite for meat to push animal feed enzymes market beyond US$1.88B mark by 2026

GLOBAL – Appetite for meat is rising across the globe and the demand for more meat is having a positive impact on the global animal feed enzymes market which is expected to grow substantially during the forecast period to meet the demand for more meat. According to a recent report by Polaris Market Research, the global animal feed enzymes market size is expected to is estimated to grow at a CAGR of 7.3 % from 2018 to 2026 to reach a market value of US$ 1.88 billion at the end…

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Bidco Africa, JKUAT ink strategic partnership to boost skill development for economic growth

KENYA – Bidco Africa Limited, has signed a memorandum of understanding with Kenyan public university Jomo Kenyatta University of Agriculture and Technology (JKUAT) that will see the two organizations collaborate on strategic fronts including agricultural research, innovation, technology transfer, entrepreneurship and the general improvement of agriculture and food security in the country. The MoU is aimed to develop a close synergy between the students of the institution of higher learning with industry players and communities in order to achieve sustainable development and progress. “The role of academia-industry linkage in promoting…

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IFAD grants Nigeria US$900,000 to support small-scale farmers recovery from COVID-19 impact

NIGERIA – The International Fund for Agricultural Development (IFAD) has issued a grant of US$900,000 to Nigeria aimed to supports small-scale producers and rural households affected by the COVID-19 pandemic. The support has been channelled through IFAD’s Rural Poor Stimulus Facility (RPSF) to enable the farmers rebuild and recover in the post-crisis period, targeting small-holders in seven northern states of Borno, Jigawa, Katsina, Kebbi, Sokoto, Yobe, and Zamfara. Under the Ministry of Agriculture and Rural Development, more than 8,000 vulnerable smallholders in the region will receive an agricultural stimulus and…

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Rwanda’s agricultural exports in second quarter register mixed bag of performance, overall declining by 5.5%

RWANDA – Rwanda earned US$419.1 million from agricultural exports in the 2019/20 fiscal year, 10% down from US$465.4 million recorded in 2018/19. The decline, according to National Agricultural Export Development Board (NAEB), is attributed to the reduction of cross border trade due to Covid-19 impact including the lockdown measures put in place. Meanwhile, the country’s agriculture exports in the second quarter of 2020/21 ended December fetched US$113.9 million a 5.5% decline from US$120.6 million registered in the same period last year. According to the data from NAEB, export revenues from…

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GreenTec Capital backed start-up Boreal Light closes US$7.5m investment round

AFRICA – Boreal Light GmbH, a Berlin start-up company specializing in renewable energy solution for water treatment facilities has closed its US$7.5 million fund raising round, aimed to support the expansion of its innovative and impactful business in Africa and beyond. The investment was made by GreenTec Capital Partners in partnership with a US based family office affiliate, represented by Mr. Lane Pitcairn Pendleton, specialized in global wealth management investments. According to GreenTec, Boreal Light’s co-founders Ali Al-Hakim, and Dr. Hamed Beheshti met with with Mr.  Lane Pitcairn Pendleton and…

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IFAD launches US$500M fund to channel climate finance to smallholder farmers

AFRICA – The International Fund for Agricultural Development (IFAD) has launched a new climate adaptation fund that the organization expects to be the largest of its kind specifically targeting smallholder farmers. The Adaptation for Smallholder Agriculture Program, known as ASAP+, aims to mobilize US$500 million to reach more than 10 million people with climate adaptation activities and was officially launched by IFAD President Gilbert Houngbo at the Climate Adaptation Summit. This follows a recent United Nations’ announcement that 2020 was one of the warmest years on record, with catastrophic temperature…

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Pots & Co to expand US presence following investment from General Mills’ venture capital arm

 UK– General Mills’ venture capital arm 301 Inc  is leading a multistage investment of up to £15 million ($20 million) into the business of leading UK producer of potted puddings Pots &Co. The investment according to a statement from Pots & Co will be used  to support the company’s growth strategy to expand its product range and distribution in the US. The investment into Pots & Co is supported by increased retail distribution in the US by the UK producer of potted puddings.  Pots & Co will initially supply both…

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