Ardent Mills acquires US chickpea supplier Hinrichs to meet growing demand for pulses

US — Ardent Mills, a leading flour milling and grain handling company, has completed the acquisition of Hinrichs Trading Company, a US-based chickpea sourcing, cleaning and packaging business. Based in Pullman, Wash., HTC operates across five locations in Washington and Montana and boasts of more than 30 years of experience in the production and supply of chickpeas. The company also has long-term production contracts with chickpea growers across US production areas. Ardent Mills said the acquisition represents another step in the company’s strategic plan to expand its specialty ingredient capabilities…

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Rising demand of fish products boost Oceana Group’s bottom line performance recording 5% jump in profit

SOUTH AFRICA – Africa’s largest fishing company, Oceana Group, has continued its growth trajectory started three years ago, reporting a rise in profit before tax by 5%, headline earnings per share up 4%, and earnings per share up 13% at the interim stage. Group CEO, Imraan Soomra said that demand remained strong right across its product spectrum, despite the COVID related supply chain disruptions. “I am particularly pleased that we have maintained our growth trajectory in this environment, delivering further earnings growth after a strong performance last year. “Furthermore, we…

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SIG to launch tethered caps for carton packs to help manufacturers meat sustainable packaging goals

EUROPE – SIG, a leading manufacturer of aseptic packaging, has announced plans to launch tethered caps for its beverage cartons in Europe in the second half of 2021 in an effort to help manufacturers improve the sustainability profile of their packaging. According to a statement from the company, the redesigned caps do not compromise on convenience and will be compatible with existing filling machines and closure applicators. This will save food manufacturers from major capital expenditures in the transition to the new packaging format. Additionally, SIG’s new tethered caps are…

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Honeywell Flour Mills boasts of 73% rise in full year profit attributed to operational efficiency

NIGERIA – Leading flour milling company in Nigeria, Honeywell Flour Mills Plc has recorded an all-time high revenue of N109.5 billion (US$266.8m) in the year ended March 2021, reflecting a 36% jump over N80.4 billion (US$195.9m) posted in the previous year. The rise in earnings is attributed to increased production output and more efficient operational capabilities at its factories in Apapa, Sagamu and Ikeja. Despite the increase in production activities, challenges with forex and COVID-induced disruptions in global trade, affected the sourcing of raw and packaging materials leading to cost…

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Kenyan extension service provider FarmMoja receives backing from social investor ADAP Capital

KENYA – FarmMoja, a Kenyan based provider of training and extension services to smallholder farmers, has received an undisclosed amount of investment from ADAP Capital LLC, to enable it expand operations. The support was issued through ADAP’s Fund 2, making it its 12th portfolio investment and 23rd for ADAP to date. According to ADAP, FarmMoja’s model of delivering effective end-to-end agricultural development has the potential to transform millions of productive global agricultural producers across the region. “The investment from ADAP Capital comes at a critical time for us as a…

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Africa focused fin-tech startup LendXS BV sells 21% stake to IDH to jointly accelerate smallholder financing

AFRICA – IDH Farmfit Fund, the catalyzing smallholder finance facility of IDH, has signed an agreement to acquire a 21% ownership stake in fintech scale-up company LendXS BV. IDH is a sustainable trade initiative that restores flourishing markets with better jobs, better incomes and a better environment while LendXS, is a fin-tech start-up by the Financial Access Consulting Services BV (FACS), the former ING Bank emerging markets banking advisory subsidiary. The investment marks the start of a unique collaboration that is expected to unlock access to credit for many farmers.…

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Kerry expands presence in Latin America with new taste facility in Mexico

MEXICO – Kerry, a multinational food ingredients company based in Ireland, has announced the opening of a new taste facility in Irapuato, Mexico, as it looks to strengthen its position in the Latin American market. According to Kerry, the new facility is expected to significantly expand the company’s offerings across a range of food and beverage categories, including refreshing and alcoholic drinks, snacks, meat, dairy and bakery. The facility is expected to primarily serve Kerry’s customers in Mexico, Central America, the Caribbean and the Andean region. According to Marcelo Marques,…

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Afreximbank boosts capacity of food safety compliance in Africa with establishment of first quality assurance centre in Nigeria

NIGERIA – African Export-Import Bank (Afreximbank), a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade, has commenced the construction of an Africa Quality Assurance Centre (AQAC) in Ogun State, Nigeria. Construction of the state-of-the-art facility commenced on 25th February 2021 and is expected to kick-start operations by the second quarter of 2022. The Ogun State AQAC is strategically located on a 5-hectare plot of land allocated by the Ogun State Government along the Lagos-Ibadan Expressway. The project site is 65km from Lagos, Nigeria’s main port city…

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Cargill begins construction of new palm oil facility in Indonesia to meet rising demand

INDONESIA – American global food corporation Cargill has announced that it is building a new US$200 million palm oil refinery in Lampung, Indonesia. The Lampung investment follows an announcement late last year of a US$20 million project to expand and modernise the company’s palm oil production facility in Port Klang, Malaysia. According to a statement from Cargill, construction work on the new facility has already begun and is expected to be completed late next year. Cargill says that recent years have seen strong demand for palm oil as its low…

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