Zimbabwe’s biggest flour miller National Foods to close down mills

ZIMBABWE – National Foods, Zimbabwe’s leading flour and food producer has announced that it plans to shut down its flour mills blamed on impeding foreign currency shortages in the country, according to ANA report. The Harare based food company had written to its customers indicating the intention to close down its flour processing factories in…

Tanzania’s sorghum market prices stabilize as supply improves

TANZANIA- Tanzania’s sorghum consumer price has stabilised following a surplus in the past four months, according to data released by the Ministry of Industry, Trade and Investment. The price is said to have remained low since July where a survey revealed that wholesale prices of a 100kg sorghum bag ranged from between US$17.32 to US$30.3,…

US wheat and corn to increase while soybean is projected to fall in 2019

USA – United States is projected to record an increase in both the number of acres and harvests of corn and wheat while soybean acres are expected to fall in the year 2019, according to U.S. Department of Agriculture’s outlook to 2028. The report suggests that after 2019, heat acres will decline and then flatten…

Astral Foods profit soars 78.7% on lower chicken feed costs in 2018

SOUTH AFRICA – South Africa’s leading integrated poultry producer Astral has reported 78.7% increase in group operating profit to US$134.99 million, resulting in an operating profit margin of 15%, ANA reports. According to the company, the year was supported by lower feed raw material costs, higher poultry selling prices as well as higher volumes across…

Zimbabwe’s fast food and retail operators re-open as the economy improves

ZIMBABWE – Zimbabwe’s fast food chains and retail operators have reopened their stores after closing down on difficult trading and economic conditions that rocked the country in the recent past. Among them KFC (Kentucky Fried Chicken) and OK Zimbabwe had blamed their closure on rising operational costs, shortages of fuel and raw materials among other…

Millers and packaging manufacturers deliberate mealie prices on high packaging costs

ZIMBABWE – Millers and packaging manufacturers are seeking to reach a consensus on mealie prices following an increase in the cost of packaging by over 500%. According to the Herald, the decision by manufacturers of packaging for mealie meal and bread to more than double their prices could see the prices of mealie meal going…