Tanzania government decides to buy cashew nuts stock as dealers cry foul

TANZANIA - Tanzanian President John Magufuli has officially announced that the government would buy all cashew nuts from farmers at about US$1.44 (3,300 Tanzanian shillings) a kilogram. This was after private buyers were reluctant to buy the crop due to disagreement in purchase prices. To support implementation of the directive, President Magufuli directed the Tanzania…

Zimbabwe government considers sale of stake in consumer goods company Olivine

ZIMBABWE – The government of Zimbabwe is considering selling of its stake in Olivine Industries to an external investor to get more capital for reviving the firm’s operations, reports the Herald. The revival of the fast moving consumer goods company is also anticipated to reduce the import bill for cooking oil and some groceries. Olivine…

Pure Oil invests US$9m to support soya farming in Zimbabwe

ZIMBABWE - Pure Oil Industries, the manufacturer of ZimGold cooking oil has invested US$9 million to support farmers growing soya beans, a critical raw material in the production of edible oils, reports the Herald. Zimbabwe which is facing shortage of cooking oil, has also limited availability of foreign exchange for importation of the major ingredients…

Cargill India launches ‘NatureFresh Acti Heart’ to expand edible oil portfolio

INDIA - Cargill India has launched 'NatureFresh Acti Heart', a healthy blended cooking oil, eying to expand increase its market share in the premium segment within two years. The new product, blended equally with Canola and rice bran oils and according to the company, it has high Omega 3 content than other products in the…

Bidco Africa and Safaricom form partnership to boost edible oil production

KENYA - Consumer goods manufacturer, Bidco Africa and Kenyan communications company Safaricom have formed a partnership that aims to boost oil crop farming and reduce reliance on imports of the commodity. According to Business Daily, the two will work together with Migori County to promote sunflower and soyabeans farming in the region. Safaricom will support…

FoodBusinessAfrica.com grows, shifts to dedicated server to meet rising demand

KENYA– Africa’s leading food, beverage and milling industry website Foodbusinessafrica.com has over the last year received overwhelming growth in traffic, with a record 10.5 million hits and 650,000 visitors over the past year, thanks to the website’s dedicated and growing readership in Africa and across the world. The increased readership has necessitated the website to…

Nestle and PepsiCo to end partnership with Indonesia’s palm oil company Indofood

INDONESIA - Global confectionary brands, Nestlé and PepsiCo have announced that they are cutting ties with Indofood, Indonesia’s largest food and palm oil production company. According to Eco-business, the two companies, both long time business partners of Indofood, have ended direct and indirect sourcing of palm oil from IndoAgri, a Singapore-listed subsidiary of Indofood, due…

National Microfinance Bank to finance palm oil cultivation to cut on imports

TANZANIA - The National Microfinance Bank of Tanzania has ventured into financing palm oil cultivation with an aim to increase production as well as cover deficit met through imports. Daily News reports that the bank is expected to partner with the Tanzania Agricultural Development Bank Limited (TADB) in boosting palm oil production in Kigoma Region.…

Canada’s ban on trans fat oils in foods officially kicks off

CANADA – Canada has officially marked the the beginning of a ban on its partially hydrogenated oils (PHOs), the largest source of industrially produced trans fat in foods. FoodingredientsFirst reports that trans fats raise “bad” cholesterol levels (low-density lipoprotein) in the blood, which is a risk factor for heart disease; they also reduce the blood…

Excitement galore greets new products winners at the Awards ceremony

KENYA– There was excitement as the winners of the new products category were announced at the just concluded  Africa Food Industry Excellence Awards ceremony that took place on September 14, 2018 in Nairobi, Kenya. On an evening full of pomp and colour, Coca-Cola Beverages Africa, East African Breweries Ltd (EABL) and Bio Food Products showed their…