Consumers want their products to be sustainably packaged as concerns about climate change abound

GLOBAL –  The demand for sustainably packaged products is continuing to rise as consumers become more environmentally aware. According to a recent Global Buying Green Report by Trivium Packaging, two-thirds (67%) of consumers consider it important that the products they buy are in recyclable packaging. The report  based on a survey conducted with Boston Consulting Group with 15,000 consumers in Europe, North America and South America further revealed that more than half (54%) take sustainable packaging into consideration when selecting a product. The demand is being mainly driven by younger…

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AfDB, IFAD and partners pledge to end hunger in Africa, work collaboratively with leaders to strengthen food security

AFRICA – The impact of climate change, pandemics, hunger and malnutrition, rising fragility and conflict, and locust invasions in East and Southern Africa is taking a toll on the continent. In particular, hunger poses an even greater risk than Covid-19 across the region as the number of people living with hunger increased from 214 million to 246 million between 2015 and 2020. The African Development Bank (AfDB) and the International Fund for Agricultural Development (IFAD), in partnership with the Forum for Agricultural Research in Africa (FARA) and the CGIAR System…

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Russia mulls soybean export tax reduction as global grain stocks to drop to five-year low

RUSSIA — Russia is examining a 20% reduction of its soybean export tax, but not to less than US$100 per tonne, starting July 1, Reuters reported. If approved, the tax would replace the current export tax which set at 30% with a minimum level of €165 ($199) per tonne until June 30, and is expected to be in place until September 2022. The tax reduction comes at a time when global grain stocks are forecast to finish the 2020-21 marketing year at a five-year low at 609 million tonnes, according…

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African Development Fund grants Ethiopia US$31.2m to combat child malnutrition through MASReP

ETHIOPIA – The government of Ethiopia has received US$31.2m grant from the African Development Fund, to boost the US$48m Multi-sectoral Approach for Stunting Reduction Project (MASReP). MASReP aims to increase access to nutritional services for children under-five years, by improving health services, availing more diverse and nutritious food, and improving knowledge, attitude and practices on feeding, care and hygiene. The project will target forty districts or woredas in the country’s Amhara and Tigray regions, highlights African Development Fund. Child malnutrition remains a significant development challenge in Ethiopia. In the project…

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ADM’s reports 76% rise in net earnings, expands feed premix offering with new acquisition

US — Agricultural commodities trading giant ADM started the year on a high note and has reported an impressive year-over-year earnings and sales growth during the first quarter of fiscal 2021.  Net earnings attributable to ADM in the first quarter ended March 31 jumped 76% to US$689 million from US$391 million recorded in the same period a year ago. Revenues for the first quarter, on the other hand surged 26%, climbing to US$18.89 billion from $14.97 billion. “I’m pleased to share with you results that demonstrate an outstanding start to…

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Guinness Nigeria names Dr. Omobola Johnson as new Board Chair replacing retiring Mr. Babatunde Savage

NIGERIA – The Board of Guinness Nigeria Plc has announced the notice of retirement of its long-serving and indefatigable Board Chair, Mr. Babatunde Savage by June 30, 2021. After leading the board of Diageo’s Nigerian operating unit for over a decade, Mr. Savage will be replaced by the former Minister of Communication & Technology of Nigeria and Guinness Nigeria Board member, Dr. Omobola Johnson, who will assume the role of Board Chair with effect from 1st July 2021. Babatunde Savage was appointed Chair of the Board of Guinness Nigeria in…

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Nestlé launches super premium Nescafe coffee, to acquire core brands of The Bountiful Company for US$5.75bn

US – Swiss food manufacturing giant, Nestlé has expanded its Nescafé coffee portfolio with the addition of what it describes as a super-premium Nescafé that delivers new tastes through roasting innovation. According to Nestlé, the Nescafé Gold Blend Roastery Collection, is comprised of barista-style soluble coffees that harness the company’s unique expertise in roasting technology to deliver new taste profiles. The new portfolio is comprised of a ‘The Light Roast’  that has a smoother, more delicate taste, with notes of caramelized honey and toasted biscuit, and a ‘The Dark Roast’…

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Tanzania Breweries full year profit plummet by 41% impacted by decline in revenue, heightened expenses

TANZANIA – Tanzania Breweries Limited (TBL), a subsidiary of AB InBev has announced that its full-year profit for the year ended December dropped by 41%, impacted by the COVID-19 pandemic. The brewer’s net profit declined to Tsh. 89.08 billion (US$38.4m) from Tsh. 150.21 billion (US$64.7m) attained in the corresponding period in 2019. According to the maker of Castle Lager, its revenue slightly dropped by 6.2% to Tsh. 961.88 billion (US$414.7m) from Tsh. 1.025 trillion (US$442m). The decline is attributed to slowed down business as on-trade outlets registered reduced foothold due…

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7 food companies featured in Times 100 most influential companies

US – 7 food companies have been featured in TIME100 Most Influential Companies, a new list—and an expansion of Time Magazine’s iconic TIME100 franchise—that highlights businesses making an extraordinary impact around the world. In developing the list, TIME says it solicited nominations across sectors including health care, entertainment, transportation, technology and more from its global network of editors and correspondents, as well as from industry experts. The magazine then evaluated each one on key factors, including relevance, impact, innovation, leadership, ambition and success. Oatly, Beyon Meat, Tilray- food pioneers Oatly,…

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Nigeria’s CHI Limited debuts Hollandai Zero Yoghurt with no added sugar, artificial sweeteners and lactose free

NIGERIA – CHI Limited, Nigeria’s leading fruit juice, drinking yoghurt, evaporated milk, and snacks manufacturer, has expanded its nourishment offering with the introduction of Hollandia Zero Yoghurt. The new product is a premium innovative offering that combines the natural taste and nutrition of yoghurt, with unique benefits of Zero Added Sugar, Zero Artificial Sweetener & Zero Lactose. It is also a low-fat drinking yoghurt. “When you look at health trends today, you notice a growing community of consumers seeking to meet their weight goal. We sought ways to appeal to…

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