AB InBev’s sales exceed pre-pandemic levels, but inflation eats into Q2 profits

BELGIUM – World’s largest brewing company Anheuser-Busch InBev has reported top-line growth of 3.2% in quarter 2 2021, ahead of the same quarter in 2019.   The brewer of Budweiser, Stella Artois, and Corona, produced second-quarter sales of US$13.5bn, a 27.6 percent jump on an organic basis, which strips out the impact of currency movements, acquisitions, and divestitures, from the same period in the previous year.  In Q2, 2021, total volumes for the world’s largest brewer grew 20.8%, compared to the same quarter in 2020 while total volumes for the first half of the year grew 17%.  Revenues for…

Read More

OPEC Fund signs US$30m loan to enhance productivity for smallholder farmers in Uganda

UGANDA – The OPEC Fund for International Development signed a US$30 million loan agreement with Uganda to help improve food security and incomes for more than 120,000 smallholder households in the northern and north-eastern regions engaged in the production and marketing of oil seeds (groundnuts, sunflower, sesame and soy). The National Oil Seeds Project is co-financed by the International Fund for Agricultural Development (IFAD) and the Ugandan government. The Ugandan government’s latest Agricultural Sector Strategic Plan highlights oil seeds as part of the four strategic commodities expected to lead the…

Read More

EABL narrowly misses complete performance turnaround with full year profit slipping by 1%

KENYA – The East African Breweries Limited (EABL) has reported 15% growth in revenue to Ksh 86 billion (US$791m), driven by smart investment behind brands, channel focus and innovations, which led to overall volume sales growing by 13%. The stellar top line performance was delivered on the back of a tough operating environment characterised by increased volatility due to COVID-19 imposed curfews and restrictions, depressed consumer spending and global supply chain disruptions. However, the company adapted to the pandemic, finding new routes to market including distributing products to consumers’ homes…

Read More

Heineken expands global footprint with addition of India’s United Breweries

INDIA – Dutch multinational brewing company Heineken has added India’s United Breweries Limited (UBL) to its expansive portfolio of brewing companies.   The announcement by Heineken follows a recent annual general meeting where the company notified shareholders that it had obtained control of UBL after taking its shareholding from 46.5% to 61.5%.  UBL has a proud history dating back more than a century in India’s beer industry and is currently the undisputed market leader in the country with a population of more than 1 billion people.   The company has a strong network of breweries across…

Read More

African milk processors Pearl Dairy, Blue Boat drive innovation in dairy sector with launch of new products

UGANDA – Uganda’s leading dairy processor, Pearl Dairy Farm Limited (PDFL), has expanded its milk offering with launch of its new UHT whole milk under its brand name Lato. The product launch comes days after the milk processor partnered with world’s leading food processing and packaging solutions company, Tetra Pak, to install a new Ush 9.25 billion (US$2.6m) packaging line. Leveraging on Tetra Pak’s Aseptic technology that keeps food safe and maintains its quality for a long duration of time, the new offering is said to have a shelf-life of…

Read More

Dairy giant Danone partners with FAO to build sustainable food systems in Egypt

EGYPT – French multinational dairy company, Danone has signed a partnership with The UN-Food and Agriculture Organization (FAO) aiming at improving nutrition, agriculture practices and food safety across Egypt for more sustainable food systems. The collaboration involves exchanging the most recent information on developing food safety problems as well as sharing data on food consumption and nutritional intakes in the North African country. Using Egypt as the pilot nation, the parties will use the information in order to enhance awareness and encourage the adoption of better eating habits. Furthermore, the…

Read More

TADB to support Tanzania’s soybean value-chain with financial backing from Clinton Development Initiative

TANZANIA – Tanzania Agricultural Development Bank (TADB), has entered into a strategic partnership with the Clinton Development Initiative (CDI), an initiative of the Clinton Foundation, that will allow the agri-bank to disburse up-to US$500,000 (TZS 1.15 billion) to unlock the soybean value-chain in Iringa Region, Tanzania. According to the Memorandum of Understanding (MoU) signed between the two parties, the partnership aims at enhancing financial accessibility to 29 Agriculture Marketing Cooperatives (AMCOs). The cooperatives will in turn impact 2,900 CDI supported farmers engaged in the production and marketing of soybeans, for…

Read More

Favourable weather drives up grain production in Bangladesh, Argentina and Australia

GLOBAL – Bangladesh, Argentina, and Australia are set to record bumper grain harvests in the marketing year (MY) 2021/22 thanks to a mixture of factors including favorable weather conditions, moderate precipitation during the planting and growing stages, and a higher total grain production area.  In Bangladesh, rice production in MY 2021/22 is forecast to increase to 36.2 million metric tons (MMT) of milled rice production, according to recently released GAIN reports.   In the report, USDA analysts noted that favorable weather and moderate precipitation during the planting and growing stages of Aus rice were responsible for these higher…

Read More

DSM acquires next-gen eubiotics platform start-up to bolster support for sustainable animal farming

USA – Dutch multinational Nutrition, Health and Sustainable Living company  Royal DSM has acquired eubiotics firm  Midori USA, Inc. (“Midori”) to bolster its sustainable farming portfolio.   According to a statement from DSM, the company already owns 38.5% of the shares of Midori. The recent deal saw the company acquire the remaining 61.5% for a consideration of US$63m.  Midori is a biotechnology start-up with a novel precision platform developing breakthrough targeted eubiotics that improve the health and environmental impact of animals.   The Boston Massachusetts-based startup has developed a technology platform that identifies glycans derived from natural food sugars that can precisely modulate how…

Read More

BrewDog plans a new experimental small batch brewery to double down on eclectic beer production

UK –  Scotland-based multinational brewery and pub chain BrewDog has announced plans of converting the entire old DogTap space into an experimental small batch brewery to enhance its capacity to produce eclectic beers.   In a LinkedIn post, BrewDog Founder and CEO James Watt noted that during the pandemic, the craft beer company had to reduce the amount of the more eclectic beers that it made to enable it survive the headwinds brought by the pandemic.  Even with these measures, BrewDog swung into the red last year as booming sales of its craft beers online during Covid-19 pandemic lockdowns failed to offset the impact of bar closures.  Despite…

Read More