South Africa reduces wheat import tariff by 45% in March

SOUTH AFRICA - South Africa’s wheat imports tariff has declined by 45% to US$32.78 per tonne following a drop in international wheat prices, based on a report by the Agricultural Business Chamber (Agbiz). The reduction is a reprieve for millers such as Pioneer Foods, Godrich Flour Mills, Premier Foods Ltd and others who have been…

Lower corn sales plunge Monsanto’s Q2 revenue with 1.1% fall in net sales

USA - Monsanto, the publicly traded American multinational agrochemical and agricultural biotechnology corporation has reported a 1.1% fall in net sales to US$5.02bn in the three months ended February 28 compared to a year earlier. The company recorded US$181m drop in corn seed sales, US$181m drop in corn seed sales with US sales being the…

Africa Rice and IRRI join hands to enhance capacity in rice production

COTE D’IVOIRE - Africa Rice Center and the International Rice Research Institute (IRRI) have agreed to expand their partnership to enhance research and develop capacity for rice production in Africa. A stronger partnership means to harness synergies in addressing the growing needs in the rice sector and in the long run impact positively on rice-based…

Africa Rice launches mobile app for low-cost rice weed control

COTE D’ IVOIRE - Africa Rice Centre has unveiled a free mobile app, ‘RiceAdvice-WeedManager’ a tool to help African rice farmers manage and control weeds most effectively and at a lower cost. The program aims to improve efficiency, productivity and in the long-run create value to farmers in rice environments ranging from rain-fed uplands to…

High refined sugar prices grow Dangote Sugar’s revenue by 20%

NIGERIA - Dangote Sugar, the Nigerian refined sugar manufacturer grew its revenue by 20.44% to US$568.28 million in its full year ended December 31, 2017 attributed to high prices of refined sugar. The company posted a profit before tax of US$149m, a 173% increase from US$54.52million recorded in the corresponding period of last year. According…

Kenya corn production to rebound, high wheat output forecast

KENYA - Kenya’s corn and wheat production is expected to increase to 3.2 million tonnes and 360,000 tonnes in the 2018/19 MY, according to a report from the Foreign Agricultural Service of USDA. Corn production will increase 10% from 2.9 million tonnes in 2017-18 due to an improvement in weather conditions after a prolonged drought…

South Africa’s oilseed production set to hit a record high of 2.4m tonnes

SOUTH AFRICA - South Africa’s oilseeds production is forecast to hit a record high of 2.4m tonnes with increased utilization of soybeans and sunflower seeds likely to affect oilseed meal imports that could drop by 14% to 480,000 tons. This is particularly driven by increased soybean plantings, with post forecasts by USDA that a record…

South Africa’s sugar tax starts operation, joins UK and Ireland

SOUTH AFRICA - South Africa’s sugar tax billed as a new health-promotion levy has started operation, requiring consumers to pay 2.1 cents per gram of added sugar or other sweetening matter that exceeds four grams per 100ml. On the other hand, sugar-sweetened drinks of which the sugar content is not disclosed on the packaging would…

New flour blending law to utilize other local grains to curb food shortage

KENYA - The Kenyan government is seeking to enact a regulation that will require millers to include other local, under-consumed grains such as cassava, millet, and sorghum in flour blends to ensure sufficient production of food. The government is making commitment to enhance food security by including the subsistence-produced crops into the national food chain,…

Hershey Company announces its holistic cocoa sustainability strategy

USA - The Hershey Company, an American company and one of the largest chocolate manufacturers in the world has announced Cocoa For Good, its holistic cocoa sustainability strategy. This comprehensive strategy addresses the most pressing issues facing cocoa-growing communities: poverty, poor nutrition, at-risk youth, and vulnerable ecosystems. According to the company, it seeks to bring…