Palsgaard appoints Michael Skriver as new global CCO

DENMARK – Emulsifier manufacturer, Palsgaard has announced that Michael Skriver has joined the company as Chief Commercial Officer (CCO) effective  1st May 2021. According to a statement from Palsgaard, Michael joins Palsgaard after a distinguished international career, most recently as CCO of AAK Asia. He will be responsible for the further development of the company’s Sales, Application, Marketing and Product Management functions. He will be reporting to CEO Jakob Thøisen. Commenting on the appointment, Palsgaard CEO, Jakob Thøisen said: “Michael brings a wealth of experience in strategic commercial development and…

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New Zealand milk production forecast to reach record levels in 2021 despite of declining national dairy herd

NEW ZEALAND – Milk production in New Zealand, one of the largest dairy producers in the world, is forecast to attain record production levels in 2021 despite of a shrinking national dairy herd. According to projections from the United States Department of Agriculture, total milk production is forecast at 22.2 million metric tons (MMT), 1.2 percent above the 21.98 MMT produced in 2020. USDA attributes the expected uptick in dairy production to an adequate preparation from farmers for the second half of the New Zealand production season and a cow…

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IFC, Madagascar partner to develop insurance to protect smallholder farmers from risks

MADAGASCAR – Malagasy farmers stand to build stronger climate resilience, increase productivity, and easily access financial services thanks to an agricultural insurance program announced by IFC and the government of Madagascar. Under the program, IFC will help Malagasy insurance companies develop targeted insurance products to protect farmers from weather-related risks and other natural disasters that threaten their livelihoods and undermine creditor confidence. Agricultural insurance will help protect farmers from a wide range of natural disasters, including cyclones, droughts, floods, and pest invasions which cost the country an average of 1…

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Nigerian Breweries reports 26.9% Q1 revenue jump triggering impressive bottom-line growth

NIGERIA – Nigerian Breweries, subsidiary of Heineken International, has reported a 38.59% year-on-year growth in profit to N7.66 billion (US$18.7m) for the first quarter of 2021, up from the N5.53 billion (US$13.5m) reported in the corresponding quarter of 2020. The impressive bottom-line growth can be directly linked to the 26.98% increase in net revenue, buoyed by the increase in sales during the quarter. Its net revenue in q1 2021 was N105.68 billion (US$258.3m), up from the N83 billion (US$203.04m) it made from sales in the corresponding period of 2020. According…

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AB InBev names new CEO to succeed Carlos Brito, reports 17.2% rise in Q1 revenues

BELGIUM – Michel Doukeris, president of the AB InBev’s North America business, has been unveiled as the CEO designate, to take over from Carlos Brito who has been at the helm of the company for 15 years. Carlos Brito has been credited as the man behind Anheuser-Busch InBev transformation into the world’s largest brewer through a series of high-profile deals. Brito, a 60-year-old Brazilian, has worked with AB InBev for over 32 years and he oversaw the integration of U.S. brewer Anheuser-Busch with the Belgian-Brazilian conglomerate InBev. More recently, he…

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Saudi Arabia privatizes barley imports and distribution business

SAUDI ARABIA – The Saudi Arabian government has complemented the full privatization of barley imports and distribution business in line with its November 2020 decree.  The decision was implemented when the Saudi Grains Organization (SAGO) sold 1.84 million metric tons (MMT) of barley through an open and competitive bidding process to local grain traders. The quantity was made up of 1.42 MMT of barley stored at 22 packing terminals (mostly contract packers) and seven vessel loads of barley sailing to Saudi seaports carrying 60,000 MT each for a total of…

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Shoprite banks on home market, opens multiple stores in South Africa

SOUTH AFRICA – Africa’s largest retailer Shoprite Holdings, has expanded its footprints in its home-market, South Africa, launching four new stores across three provinces. Being on an expansion spree, the retailer broke the record of opening the new stores, within a span of three days, in the last week of April 2021 The supermarket chain owner has revealed that it has entered markets that were not previously served by the group and those showing strong population growth, introducing both the Shoprite and Checkers banners. The new outlets include: Checkers Jukskei…

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South African fryers maker Kombo King to expand market following Vumela investment

SOUTH AFRICA – Kombo King, a South African kitchen equipment supplier focusing on the fried food niche market, has received an undisclosed amount of investment from the Vumela Fund, established by FNB Business and Edge Growth. The company’s fryers enable retail stores to save on electricity usage, oil usage, kitchen space and the opportunity to increase customer service speed and increased menu offerings. Kombo King was founded in 2015 by entrepreneurs Zitulele KK Combi and Ari Jacobson in response to the growing demand for convenience foods at an affordable price…

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AGRA, Aceli partner to enhance capital flows for SMEs in agriculture sector

AFRICA – AGRA, a farmer-centred, African-led, and partnerships-driven institution, has joined hands with Aceli Africa to enhance capital flows to SMEs in the agriculture sector and support a financially inclusive agricultural transformation across Africa. Aceli Africa is a market incentive facility that offers financial incentives to mitigate risk and compensate lenders for the transaction costs of serving high-impact agricultural SMEs. The organization plans to support its 25 lending partners in mobilizing US$700 million in financing for agri-SMEs by 2025 with a focus on SMEs that are gender inclusive, improve food…

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Hilmar to build new cheese and whey facility in Kansas to meet rising demand

US – Hilmar Cheese Company, one of the world’s largest producers of high quality American-style cheese and whey products, has announced plans to build a new state-of-the-art cheese and whey protein processing plant in Dodge City, Kansas, United States. The new facility will help Hilmar Cheese Company meet the growing demand of its customers and the marketplace for cheese and whey products worldwide. According to a report by Grand Review Research, the global whey protein market size was estimated at US$8.7 billion in 2019 and is expected to expand at…

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