Philippines bans use of trans fat to control spread of non-communicable diseases

PHILIPPINES – The Philippines government is stepping up efforts to protect its people from non-communicable diseases with a new order against the production of industrial trans fats.  Titled the “National Policy on the Elimination of Industrially Produced Trans-Fatty Acids for the Prevention and Control of Non-Communicable Diseases,” the new administrative order (AO) aims to remove trans fats from the Fili by 2023.  Under the AO, industrially produced TFA and processed food products containing TFAs shall be prohibited from being produced, imported, and distributed for commercial sale.  Once it becomes effective, it will be illegal to sell Partially-Hydrogenated Oils (PHO) to…

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Summit Agricultural Group to invest US$200m in setting up North America’s largest wheat protein facility

US — Summit Agricultural Group is acquiring Prairie Horizon Agri-Energy, a US-based biorefinery, in an effort to expand its presence in North America’s wheat protein processing sector.  Prairie Horizon is a renewable fuel corn ethanol producer with a production capacity of 40 million gallons per year.  Summit Agriculture, however, plans to convert the facility into one of the largest wheat protein processing facilities in North America.  To achieve this goal, the company plans to invest US$200 million in the development of the ingredients plant and is expected to be operational within two years.  The wheat protein produced at…

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Mathews Company launches new grain dryer line as Argentine farmers mull ditching soybean for corn

US —Mathews Co. (M-C), a family-owned global manufacturer of grain dryer equipment, has launched its newest grain dryer product line, the Fusion Series.  The Fusion Series includes familiar features such as a welded base, Pinnacle 20|20 controls, and M-C Trax remote monitoring and control which enhance the efficiency and effectiveness of the grain drying process.  The Pinnacle 20|20 is a PLC-based control system with a large customizable touchscreen that has remote connectivity for operational monitoring and control, and intuitive troubleshooting and help features.   M-C Trax, on the other hand, allows users…

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Moët Hennessy, Campari partner to build a European ecommerce platform for wines and spirits

US – French-based premium alcoholic manufacturer Moët Hennessy and maker of Italian alcoholic liqueurs Campari Group have partnered to build a European eCommerce platform for wines and spirits. The 50/50 joint venture will look at investing in wines and spirits eCommerce companies to enable them take advantage of the popularity of consumer shift to online purchases amid the Covid-19 pandemic.  Under the terms of the agreement, Campari will transfer its stake in Tannico – an alcohol eCommerce platform that it acquired last year – into the newly-formed joint venture for €25.6 million.  Tannico owns a majority stake in Ventealapropriete.com, an online…

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Food delivery platform Elmenus raises US$10m pre-Series C funding to drive expansion plans

EGYPT – Elmenus, the Cairo-based food discovery, ordering, and delivery platform, has announced that it raised US$10 million in pre-Series C funding round lead by Egyptian payments firm Fawry. New York-based hedge fund Luxor Capital, and Egyptian property developer Marakez, also participated in the deal. It is important to note that Luxor is no guest in the food delivery scene as it has previously backed companies like Zomato, Glovo, and Gopuff. Elmenus is their first investment in the Middle East. Elmenus aims to use the funds to expand to more…

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Botwana retailer Choppies turns to profitability courtesy of restructuring efforts

BOTSWANA – Botswana based retailer, Choppies Enterprises Limited has attained its first profit since 2016 of P37.7 million (US$3.4m) in the six months ended 31 December 2020, a rise from the loss of P139.2 million (US$12.56m) attained in 2019. According to the company, the turnaround performance is attributed to the benefits from restructuring the business following the exit from underperforming investments. Despite the impressive bottom-line performance, the group’s revenue decreased by 8.7% to P2.711 billion (US$244m). This decline was a result of negative volume growth due to the impact of…

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Kenya’s Lake Region Economic Block to benefit from US$1.1m fish processing plant

KENYA – Kenya’s county government, Kakamega, has commissioned a fish processing plant with a capacity to process 30 metric tonnes of fish per day, providing a ready market for farmers in the 14-member Lake Region Economic Block (LREB). The facility which has been under construction since 2009, received initial financial backing of Ksh. 60 million from the National Government with the county government spending another Ksh20m. To propel the finalization of the project, the investor running the factory, DAS Limited invested Ksh40 million. “The County Government appreciates our partners, the…

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Cargill invests US$45m into production of soluble fibres to meet Europe’s demand for low-calorie products

EUROPE – American multinational food corporation Cargill is investing US$45 million into production of soluble fibers in an effort to meet demand for low calories products in Europe.  According to a statement from the company, the investment will be pumped into Cargill’s existing facility in Wroclaw, Poland where construction of a soluble fiber products line is already underway. The company is expecting its initial offerings to be fully commercialized in the second half of 2022.  The move marks the company’s first entry into the European soluble fibre market and comes amid a growing demand for reduced-sugar products. Demand for low-sugar products grows…

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Global nuts supplier RRF, USAID to boost West Africa’s cashew nut value chain with US$3m investment

WEST AFRICA – Red River Foods (RRF), a leading global supplier of nuts, seeds, dried fruit, and specialty snacks, has entered into a US$3 million co-investment partnership with the USAID-funded West Africa Trade & Investment Hub (Trade Hub), to build a sustainable root to market channel for West Africa’s cashew nut produce into the U.S. market. This partnership builds on the U.S. Government’s Prosper Africa initiative to increase two-way trade and investment between the United States and Africa, as nearly US$32 million in exports are anticipated from activities to boost…

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PepsiCo revenues jump 20.5% in Q2 buoyed by recovering out-of-home consumption

US – PepsiCo, a US-based multinational food and beverage company, has reported a 20.5% increase in net revenue in its second-quarter results buoyed by easing pandemic restrictions in its major markets across the world.  For the quarter ending 12 June 2021, the company posted net revenues of US$19.22 billion, compared with the US$15.95 billion recorded for the same period last year.   The company’s PepsiCo Beverages North America division put in a strong performance in Q2 with a 24% increase in net revenue, while volume increased by 15%.  PepsiCo says that it gained market…

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