Africa’s wheat consumption grows as imports hit 47million tonnes

AFRICA – Africa’s grain consumption has over the past decade posted remarkable growth amid increasing demand propelled by the increasing population and changing consumer habits. According to a report by World Grain, wheat was among the major grains that recorded significant increase in consumption. Wheat imports in the continent increased to 47 million tonnes from…

VTB Bank to acquire grain terminal from Novorossiysk Commercial in Russia

RUSSIA - VTB Bank, one of the leading universal banks of Russia has reached an agreement to acquire a grain terminal from Novorossiysk Commercial Sea Port (NSCP), a leading commercial sea port operator for an undisclosed sum. The deal will enable the VTB bank have more control over Russia’s main deep-sea grain export hub. The…

CBH Group expands grain storage capacity in Chadwick after US$11.4m investment

AUSTRALIA - The CBH Group has said that it has expanded its Chadwick grain receival site near Esperance after completing the US$11.4 million investment across its network. The company has added 80,000 tonnes of new permanent storage at the facility, expanding its capabilities in handling, marketing and processing grain while reaching its customers with better…

South Africa’s Pioneer Foods reports 7.8% growth in turn over

SOUTH AFRICA – Pioneer Foods, a South African food and beverage company has reported a 7.8% increase in its turnover during the four months ended 31st January 2019 period reports Business Day. The packaged food company attributed the performance to the increased prices of bread prices, wheat flour, rice and export fruit in its operating…

Premier Foods abandons plan to sell Ambrosia custard unit

UK – British food manufacturer has dropped plans to offload its Ambrosia brand which includes rice pudding and custards, which it had planned to sell for a consideration of about US$129 million. The company which makes Mr Kipling cakes has blamed difficult business climate as well as its huge debt which it had planned to…

Kellogg collaborates to test eye-tracking technology in retail stocking

USA - The Kellogg Company has partnered Accenture and Qualcomm to launch a a pilot test that uses eye-tracking technology in a virtual reality headset to determine the best way to stock shelves for retailers. The partnership looks to transform retail merchandising by enabling companies to do market research faster, more affordably, and on a…

Buhler reports 22% increase in turnover as integration of Consumer Foods continues

SWITZERLAND – World’s leading milling giant, Buhler Group has reported 22% rise in turnover for the year 2018 even as it continues to integrate the newly created Consumer Foods business. During the period, Buhler said it experienced continued organic growth in all businesses characterized by expanded market share, increased order intake, and higher turnover. The…

U.S. Grains Council president and chief executive Tom Sleight to retire

USA – President and Chief Executive Officer of the U.S. Grains Council (USGC), Thomas Sleight has announced plans to retire in the summer when his successor will be appointed by the firm’s Board of Directors. Tom was named president and CEO of the firm in 2012 after Thomas C. Dorr who also retired from USGC.…

Nestle India reports 9.6% growth in profits to US$47.96m in Q4

INDIA – Nestle India reported a 9.6% growth in net profits to US$47.896 million for its fourth quarter period ended 31st December 2018 up from US$43.76 million posted in the corresponding period in its previous financial year. The company total revenues in the period under review increased from US$417.16 million against US$372.26 posted in the…

IRRI strengthens partnership with University to enhance rice research

PHILIPPINES - The International Rice Research Institute (IRRI) has signed a memorandum of understanding (MoU) with Nagoya University in the Philippines to strengthen capabilities in rice research and education. The cooperation between IRRI and the University will run through a 15-year period bringing together expertise in rice-based agri-food systems with a goal to greatly contribute…