Coffee quality at risk of diminishing due to climate change, new study finds

USA – Climate change has been identified as a significant stressor on the quality of coffee by researchers from the Friedman School of Nutrition Science and Policy at Tufts University and Montana State University.  The researchers found that coffee is primarily susceptible to water stress, increased temperatures and larger quantities of carbon dioxide in the atmosphere.  Coffee’s taste profiles are characterized by the amount of acidity, as well as the overall body and flavor, in a bean.   As weather patterns change, crops become stressed, putting at risk the once familiar…

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Africa’s first climate credit facility for agriculture launches in Kenya

KENYA – Africa’s first climate adaptation credit facility for agriculture, ADAPTA, has launched with US$ 1.5 million in funding from the Bill & Melinda Gates Foundation for Phase I in Kenya. ADAPTA will develop and test an innovative loan underwriting platform that incorporates agricultural technologies and climate-smart agriculture. The facility plans to use climate scoring algorithms to transform how banks and investors assess agricultural risk to unlock financing for farmers and Agri-SMEs. These innovations will be developed in partnership with the Alliance of Bioversity International and CIAT, part of the…

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Yili forays into the infant formula and nutrition with acquisition of stake in Ausnutria Dairy

CHINA –  Yili, China’s largest dairy company, is set to acquire a 34.33% stake in Netherlands-based producer of infant formula brands Ausnutria as a step to move into the infant formula and nutrition product business.  Yili is making the acquisition through its wholly owned subsidiary Hong Kong Jingang Trade Holding Co., Ltd.   Jingang will acquire a total of “531 million shares held by previous shareholders at a price of HK$10.06 per share, which represents approximately 30.89% of the total number of issued shares of Ausnutria,” the company said in a statement. “Ausnutria will issue 90 million…

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Grupo Bimbo enters US ready-to-eat popcorn market with acquisition of Popcornopolis

USA – Mexican multinational food company,  Grupo Bimbo has purchased gourmet popcorn brand Popcornopolis in an effort to expand its presence in the US snack market.   The acquisition whose terms were not disclosed was made by the mexican-based company through its U.S. snack division Barcel USA.    Popcornopolis offers indulgent flavors like Zebra, Unicorn and Double Drizzle, as well as what the company calls “better-for-you favorites” Nearly Naked and Kettle Corn.   The popcorn brand has been under the umbrella of the private equity group NexPhase Capital since 2019, and the partnership was focused…

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Hilton Food Group expands UK footprint with acquisition of meat supplier Fairfax Meadows

UK – International multi-protein food business Hilton Food Group has acquired UK meat supplier Fairfax Meadow Europe from Argent Holdings for £23.8m (about US$32.48m).  Fairfax Meadow operates four meat processing and packing facilities across the UK from whence it supplies some of the largest businesses in the UK hospitality and travel sectors.  Hilton says the acquisition, made through its Hilton Foods subsidiary, would improve its access to the out-of-home channel.  The company further noted that Fairfax Meadow will also help it in harnessing existing partnerships and contributing to further sustainable growth for…

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International Breweries grows revenue by 32.1% in Q3 2021 riding on consumer loyalty

NIGERIA – International Breweries Plc, the Nigerian unit of global brewer – AB InBev, has reported a 32.1% increase in revenue in the third quarter of 2021 to N46.43 billion (US$112.47m) from N35.15 billion (US$85.15m) recorded in Q3 of 2020. The leading beer maker has produced the strong top-line performance courtesy of its consistent efforts in availing quality products and expansion of its route to market. Its premium brands continue to gain unprecedented acceptance and loyalty from consumers. Meanwhile, its cost of sales also increased by 16% to N33.86 billion…

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Flour Mills of Nigeria shows consistent growth in performance reports 47% rise in revenue

NIGERIA – Flour Mills of Nigeria Plc, Nigeria’s leading integrated food and agro-allied group, has attained a 47% rise in revenue in the first six months of the year 2021/22 to N523 billion (US$1.27 billion), compared to N355 billion (US$859.97m) recorded in the corresponding previous period. According to the owner of the iconic food brand, Golden Penny, the positive performance was consistent across all key business segments in the group with the food, agro-allied and support segments all growing by more than 35%. “I am very pleased with our half…

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Kenyan supermarket chain Chandarana Foodplus extends fresh food offering to Nakuru County

KENYA – Chandarana Foodplus, a local Kenyan retailer has extended its footprint in the country with opening of a new branch in Nakuru town. The supermarket chain, which started as a small grocery shop in Nairobi, has rapidly grown to now boosting of 22 stores in the country, with 13 located in the capital and others based in Kisumu, Eldoret, Nanyuki, Kakamega and Mombasa towns. According to reports by The Star, Chandarana is the anchor tenant at the prestigious ultra-modern Golden Life Mall, a project of the Egerton University Retirement…

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Midroc Investment Group to beef up Ethiopia’s edible oil processing capacity with US$1 billion planned investment

ETHIOPIA – Ethio Agri-CEFT, subsidiary of Ethiopia’s largest diversified conglomerate, Midroc Investment Group, is seeking to invest US$1 billion in the establishment of a new edible oil processing complex in the country. The factory set to be the largest edible oil processing facility in the country, will also produce animal feed from the by-products. Ethio Agri-CEFT has been majorly undertaking oilseeds farming alongside other crops for the export market. The earmarked investment will enable the company to extend its operations along the value chain by engaging in processing of the…

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Hershey eyes premium milk market with new chocolate milk product

US- Leading American chocolate manufacturer, Hershey is seeking to enter the premium milk market through the launch of a co-branded chocolate milk series with the a2 Milk Company.  The chocolate milk is set to use a 2% reduced fat milk and is scheduled to hit retailers’ shelves beginning in January 2022 in 59 oz refrigerated cartons as well as in 8 oz shelf stable single, 6-pack and 18-packs.  The partnership with a2 brings Hershey into the premium milk space and provides the company with another way to promote its brand name beyond…

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