Specialty ingredients supplier AAK appoints Sten Estrup as President Asia

SWEDEN – Provider of value-adding vegetable oils & fats, AAK has appointed food industry veteran and former chief executive at Biomega Group, Sten Estrup as the company’s new President of Asia. Following his appointment, AAK also noted that Sten will be part of the company’s Executive Committee and will be based at the company’s Singapore office. Estrup, a Danish native, joins Sweden-based company with more than 25 years of experience across the food and health industries, holding executive roles within operations, sales, marketing, and commercial development. Most recently, he was…

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Investcorp closes US$275m Asia food brands private equity joint venture vehicle

ASIA – Bahrain-headquartered global alternative investment manager, Investcorp has announced the first closing at US$275 million, of its Asia food brands private equity platform that the investment firm jointly runs with its Chinese partners. The platform was established in November last year by Investcorp, China Resources, one of the world’s largest owners and distributors of food brands in Greater China and Fung Strategic Holdings Limited, a member of Fung Investments aiming to invest US$500m in food brands and manufacturing sites in Asia. The investment platform primarily focuses on capturing the…

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Nafoods Group to invest in new value-added products processing facility

ASIA – IFC-backed Vietnamese agribusiness conglomerate, Nafoods Group has secured a US$5 million funding form the Finnish Fund for International Cooperation to support the company’s expansion plans. Nafoods plans to use the proceeds to set up a new value-added products processing facility at its Long An factory in southern Vietnam. The company intends to set up a new processing line for soft dried sugar and non-sugar tropical fruits with a 150MT monthly processing and an additional 150 MT production capacity for all natural cashew and peanut butters. The company said…

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Danone, Incofin IM partner to invest in businesses providing access to clean water in Africa, Asia

AFRICA – Danone, French multinational food-products corporation has partnered with Incofin IM, leading international impact fund manager to jointly invest in businesses providing access to clean water in Africa and Asia. The partnership will entail pooling capital from major investors to invest in innovative water businesses that provide affordable and safe drinking water to underserved populations to catalyse further growth for the entire water sector. Some of the targeted water businesses include decentralized solutions such as water kiosks, which deliver safely treated drinking water in gallons to the home or…

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World’s first sustainable rice partnership shortlisted for US$100m grant

ASIA – The Sustainable Rice Platform (SRP), a multi-stakeholder platform that seeks to promote efficiency and sustainability in the in the global rice sector, has been shortlisted for a US$100 million grant from the MacArthur Foundation. The platform has set out a goal of providing actors in the global rice sector with sustainable production standards and outreach mechanisms that contribute to an increase of global supply of affordable rice, improved livelihoods of rice producers and a reduction of the environmental impact of rice production. While acknowledging that rice is vital…

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Kemin Industries launches new antimicrobial solution for the food industry in Asia

SINGAPORE – Kemin Industries, a global ingredient supplier for the food and beverage industry, has launched the BactoCEASE, its all-natural food safety solution for the meat, poultry and seafood to the Asia-Pacific region. Kemin explains that BactoCEASE is a solution that delays the growth of bacteria in meat, poultry and seafood products, and proven to keep the total viable count of microorganisms within the regulated standard. The ingredients manufacturer said BactoCEASE can extend the shelf life of food products just as effectively as synthetic preservatives without negatively impacting the product’s…

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Germany funds US$22m initiative to boost agriculture sectors’ role in addressing climate change

GERMANY – Germany has launched a new €20m (US$22.3m) programme co-led by FAO and the United Nations Development Programme (UNDP) aimed at accelerating climate change action in developing countries’ agricultural and land use sectors. The initiative will be financed by the German Ministry of Environment, Nature Conservation and Nuclear Safety through its International Climate Initiative. The programme will support at least 10-12 developing countries in Latin America, Asia and Africa through accelerating and improving planning towards building climate change resilience in the regions. The aims to assist the countries to strengthen…

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Circulate Capital launches US$106m fund to address Asia’s ocean plastic crisis

ASIA – Singapore-based venture capital firm Circulate Capital, with founding investors and partners PepsiCo, Procter & Gamble, Dow, Danone, Unilever, The Coca-Cola Company has launched the US$106 million Circulate Capital Ocean Fund. The fund, touted as the world’s first investment fund dedicated to preventing Asia’s ocean plastic crisis is aimed at addressing the financing gap between private capital and resources needed by Asia’s wastewater sector. Circulate Capital’s mission is to demonstrate the investability of the waste management and recycling sectors to attract the billions of dollars of institutional investment capital…

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Asia requires an additional US$800bn investment to achieve food security, new report says

ASIA – To grow Asia’s food and agricultural industry into a sustainable size and ensure the region reaches a point where it can feed itself, an additional US$800 billion investment is required in the region. This is according to new a new report launched by the major global companies; PwC, Rabobank and Temasek during the Asia-Pacific Agri-Food Innovation Week. The report dubbed ‘The Asia Food Challenge Report: Harvesting the Future’ indicates that around US$550 billion is required to be invested around sustainability, safety, health and convenience. The region is urbanising…

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IRRI develops sustainable agricultural technologies to bolster production in Asia

ASIA – The International Rice Research Institute (IRRI) and the Asian Development Bank (ADB) are pursuing ways to increase investment for sustainable agricultural technologies. IRRI and ADB have completed a technical assistance project to help governments identify and prioritize appropriate climate-resilient agricultural technologies and practices for high-impact investment. Under the ADB technical assistance, IRRI and select national research organizations piloted the “Climate-smart practices and varieties for intensive rice-based systems in Bangladesh, Nepal, and Cambodia” project. The pilot project focused on three major components – which revealed that rice fields are…

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