Private label sales rebound as falling incomes force consumers to closely watch their budget

GLOBAL – After a disappointing 2020 where growth in private label sales was outpaced by National Brands for the first time in in a decade, sale growth in the category has rebounded, according to a recently released data by NielsenIQ. The rebound in sales has been attributed to an increase in consumers who are actively looking for ways to reduce their spending as uncertainty and concerns over unemployment loom. In a webinar presentation, Kerry also attributed the resumption of growth in private label sales can also be attributed to continuing…

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UK food and beverage exports to EU decline by US$1.5 billion as Brexit realities continue to impact trade

UK – In the first few months of 2021, Britain’s exports to the EU were down more than £1.1 billion (US$1.5 billion), according to a new Food and Drink Federation (FDF) report. For the month of February, The FDF report notes that  F&B exports to the EU were down more than a fifth in February, linked to a fall in sales of 40.9 percent compared to the same period of the previous year. Exports to UK’s biggest market, Ireland, have also dropped more than two thirds during the period under…

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United Breweries Q4 profits rise as Britannia’s quarterly fortunes plunge 7%

INDIA –  United Breweries, one of the leading beer makers in India, has reported a consolidated net profit of Rs 97.53 crore (about US$13 million) in the fourth quarter ended March 31, riding on good volume growth in markets across the country. This is an over two-fold jump compared to the company’s net profit of Rs 41.82 crore (aboutUS$5.6 million) achieved during the same period last year, United Breweries Ltd (UBL) said in a regulatory filing. Consolidated total income from operations stood at Rs 3,629.75 crore (about US$487.2 million) as…

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State-owned TADB seeks to partner with local cashew nut, grapes sub-sector players to enhance productivity

TANZANIA – Recognizing the opportunity in the cashew and grapes sub-sector, the Tanzania Agricultural Development Bank (TADB) is setting out to support investment in the sub-sectors through a Processor – Producer Partnership Project. To this end TADB has called for submission of proposal from sector players who will follow a market-led and demand driven private sector development approach. In line with the bank’s Integrated Agricultural Value Chain Financing (IVCF) Model, key stakeholders in the project will include producer groups (smallholder farmers, women and the youth), input and technology suppliers, research…

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Zomato files for $1.11bn IPO as food delivery surges in pandemic

INDIA – India food delivery platform Zomato has filed for a US$1.11 billion IPO as food delivery surges in India amid a raging pandemic that has so far infceted more than 18 million people and killed over 200,000 others. Launched in 2008, Zomato is one of India’s most prominent startups, currently present in 24 countries and reported to employ more than 5,000 people, according to its website. The company, along with domestic rival Swiggy, backed by Accel, dominates the Indian food delivery market, which research firm RedSeer estimates is worth…

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Keroche Breweries launches Kenya’s first localy produced extra strong beer tapping niche market

KENYA – Kenya’s second largest brewer, Keroche Breweries has expanded its beer portfolio to extra strong beer category with launch of Vienna Ice Strong Lager. The new drink has an alcohol strength of 10% and according to the company, it’s the first strongest locally brewed beer in a market dominated by imports. The CEO of the company Tabitha Karanja, indicated that the product was introduced following a two-year survey which revealed the niche market, reports KBC. “For years, consumers have relied on imports in this market and the new brand…

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GAIN to rope in Ethiopia’s private sector in streamlining country’s food system to tackle malnutrition

ETHIOPIA – The Global Alliance for Improved Nutrition (GAIN), a Swiss-based foundation launched at the UN to tackle human suffering caused by malnutrition, has launched Scaling Up Nutrition Business Network (SBN) in Ethiopia, to foster availability and affordability of safe, nutritious food in the country. The SBN is one of the four global networks within the Scaling Up Nutrition (SUN) Movement which supports 61 Countries, including Ethiopia, to develop a multi-stakeholder approach to scale up and invest in nutrition. In Ethiopia, SBN’s approach will include convening businesses around national nutrition…

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New research identifies key odorants that chiefly contribute to off-flavors in fermented cocoa

GERMANY – Key odorants that chiefly contribute to off-flavors in fermented cocoa have been identified by researchers, making it easier for chocolate companies to objectively assess the sensory quality of fermented cocoa based on odorant concentrations. In the research, the researchers identified Geosimin and 3-methyl-1H- indole to be the main compounds contributing to off-flavours in fermented cocoa. Additionally, the researchers have established maximum concentration levels to avoid the incorporation of cocoa that smells musty, moldy, smoky or like horse dung into food production. According to the researchers, Geosimin – which…

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Abu Dhabi-based IHC harnesses solar energy to power efficient agricultural production in Egypt

EGYPT – International Holding Company (IHC), one of UAE’s leading diversified businesses, has invested AED 1.5 million (US$408,000) in construction of a pioneering solar-powered irrigation system in Egypt, to drive increased energy-efficient agricultural production. The Abu Dhabi-based conglomerate is undertaking the investment through its subsidiary, Al Hashemeya Company for Land Reclamation and Cultivation, reports Africa Business Communities. The pilot project will feature six wells spread over 500 acres, using photovoltaic system to help pump water onto 10,000 acres (4,050 hectares) of farmland in the Wadi Al-Natroun region of northern Egypt.…

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AGRA unveils new center to train Africa’s agriculture leaders in sustainable practices

AFRICA – The Alliance for a Green Revolution in Africa (AGRA) has launched a centre to provide hands-on support to African leaders in the agriculture sector, to deliver food security and inclusive economic growth. The Centre for African Leaders in Agriculture (CALA) has been established with the financial backing of the German Development Cooperation through KfW Development Bank, and in partnership with the African Management Institute (AMI) and USAID’s Policy LINK. The program targets leaders from eight countries i.e., Ethiopia, Ghana, Kenya, Malawi, Nigeria, Rwanda, Tanzania, and Uganda. Africa’s agriculture…

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