Nigeria’s annual palm oil imports down to US$500m, unveils self-sufficiency plans

NIGERIA – Nigeria's palm oil imports have declined about 302,000 metric tonnes worth US$500 million as the country embarks on efforts to become self-sufficient in palm oil through increasing local production. This according to Mr Godwin Emefiele of Central Bank of Nigeria (CBN) who was speaking during a meeting with stakeholders in the Palm Oil…

AAK invests US$32m in expansion of its production facility in China

CHINA – AAK, supplier of vegetable oils and fats for specialized products has said that it will invest US$32 million (SEK 300 million) at its production facility in Zhangjiagang, China. The company said the investment will seek to increase capacity and support volume growth with a focus on Special Nutrition and Bakery segments. The investments…

Gulf Capital invests US$22m in Tunisia’s olive oil producer CHO Company

TUNISIA – Gulf capital, a Middle East – based asset management firm, has invested US$22 million in Tunisia’s largest organic and natural olive oil producer, CHO Company. Abdelaziz Makhloufi, founder and chairman of CHO Company, said that the funding will facilitate the company’s growth and expansion plan and infiltration into the global market. “Gulf Capital’s…

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…

Tanzania spends US$83m annually on edible oil imports

TANZANIA - Tanzania is spending at least US$83.19 million annually on edible oil imports despite the country’s potential to grow and produce edible oil, statistics from agriculture ministry reveals, IPP media reports. The country has a potential to produce adequate quantities of cooking oil thus experts were called on come up with a comprehensive plan…

Bidco Africa wins top most award at Energy Management Awards ceremony

KENYA– Agribusiness and manufacturing giant Bidco Africa has been declared the overall winner of the coveted Energy Management Award at the awards ceremony held in Nairobi, Kenya. The awards, themed ‘Setting the pace in resource efficiency towards competitive local manufacturing’, awarded over 20 companies that have achieved significant reductions in their energy consumption through implementation…

Zambeef completes majority stake sale of Zampalm to IDC

ZAMBIA - Zambeef Products Plc has announced that it has completed the sale of its majority stake in its wholly owned subsidiary and oil producer, Zampalm Ltd to the Industrial Development Corporation of Zambia Limited (IDC) for US$16 million in cash. Zampalm Ltd was incorporated in 2009, has some 409,506 palms planted on its plantation, supplies…

United Refineries diversifies with new range of vegetable juice

ZIMBABWE - United Refineries Limited (URL), innovative producer of brands in personal care, hygiene and value added agro-products categories has diversified its operations into a new range of vegetable juice. The Bulawayo-based manufacturer is a subsidiary of Grindrod Limited and produces fast moving consumer goods, such as cooking oils, soap, stock feed and salad cream,…

Olivine to invest US$5m in margarine plants

ZIMBABWE - Fast moving consumer goods manufacturer Olivine Industries will invest $5 million in the final phase of the margarine processing technology and soap plant upgrade. Margarine production at Olivine was being hampered by old equipment, some of it dating back to 1947, which saw the firm losing a considerable market share to other brands.…

Demand for infant formula ingredient continues to grow – Advanced Lipids

CHINA - The demand for infant formula containing SN-2 palmitate – an ingredient that mimics the fatty acid profile in human milk – has soared over the past decade and will continue to grow, according to Advanced Lipids. Advanced Lipids is a joint venture established by Enzymotec, a leading biotech company specializing in lipid-based bio-functional…