Global oilseed production to grow 5 percent in 2021/22 buoyed by rise in soybean output in the Americas

GLOBAL – The global oilseed production is forecast to grow 5 percent in 2021/22, primarily on growth in soybean output in the United States and South America, according to a recently released report by USDA. The USDA projects that about 632 million tons of oil seeds will be produced during the year under review due to record plantings. Soybean production is forecast to rise 23 million tons to 386 million, a 6-percent increase while production of all oilseeds is forecast to increase, with all but cottonseed and rapeseed reaching at…

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IFC, FMO to back Tunisian olive oil producer CHO Company with US$14m financing

TUNISIA – One of Tunisia’s largest olive oil producers, CHO Company is eyeing €12 million (US$14.4m) long-term financing facility from the International Finance Corporation (IFC)and Dutch development finance institution FMO. The proposed debt will finance the company’s permanent working capital and capital expenditures to support its strategy to increase its sales of bottled olive oil. “CHO’s overall goals through this project are its contribution to preserving linkages with farmers, maintaining jobs, and domestic value addition,” indicates FMO. The project’s contribution to market resilience will be through building capacity along the…

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Alliance Ginneries Limited invests US$11m in construction of soybean oil processing plant in Zambia

ZAMBIA – Alliance Ginneries Limited (AGL), a cotton ginning company operating in Southern Africa is seeking to diversify its operation by venturing into soybean oil extraction and refining. The company has commenced construction work for its new processing plant in Lusaka, Zambia to cost US$11m. The invested amount was raised by the company through impact investment. This was revealed by Prospero Zambia, a UKaid-funded private sector development entity, who supported Alliance Ginneries to close the deal. “Prospero is happy to have supported Alliance Ginneries with investment readiness technical assistance to…

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Egypt’s local production of edible oil, meal to rise following expansion of crushing capacity

EGYPT – Egypt to continue relying on oil seed imports as a result of expansion of its crushing industry and local production being far below demand levels. The main oil seeds utilized in the country for production of both edible oils and animal feeds are soybeans and sunflower seeds. In marketing year (MY) 2021/22, production of soybeans is expected to be 25,000 metric tons (MT), against local demand of 4.64 million metric tons (MMT), according USDA Foreign Agricultural Services in a GAIN report. The consumption rate is 2.2 percent up…

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South Africa’s edible oil imports to decline in 2021/22 resulting from rise in crushing capacity by 3%

SOUTH AFRICA – South Africa’s oil seed sector is expected to witness a bumper harvest in Marketing Year (MY) 2021/22, which will result to a drop in edible oil imports to 940,000 tons. Soybean oil imports are forecast to be around 130,000 tons and for sunflower seed oil to be at about 260,000 tons. According to a GAIN report prepared by USDA Foreign Agricultural Services, the decline will follow a 3% rise in edible oil imports in 2020/21 MY to around 950,000 tons. South Africa imported an estimated 150,000 tons…

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Ethiopia’s oil seeds production to marginally decline due to drop in sesame production

ETHIOPIA – Ethiopia’s oil seeds production i.e., sesame seed, Niger seed, and soybeans in marketing year 2020/21 (October to September) is estimated to reach 705,000 metric tons, slightly down by 0.3 percent over previous year. The production quantities of Niger seed and soybean during the period under review are estimated to increase by 2 and 14 percent, respectively, over last year’s level reaching 300,00 metric tons (MT) for Niger seed and 150,000 MT for Soybean. Expansion in planted acreage and improved yield due to good weather conditions are set to…

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Cameroonian SODECOTON to build US$45.5m cottonseed oil plant, Ethiopian edible manufacturer expands facilities

CAMEROON – SODECOTON, Cameroonian state- owned enterprise in charge of managing the cotton sector, has made preparation to construct XAF25 billion (US$45.5 million) cotton seed oil production plant in Tchabal Margol-Ngaoundéré, Adamaoua. This is in anticipation to a rise in cotton production to at least 400,000 tons per annum by 2025 in the country. The new oil production plant with a daily pressing capacity of 300 tons, will be the third similar infrastructure owned by SODECOTON, joining the facilities in Garoua and Maroua, reports Business in Cameroon. To facilitate funding…

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Grüninger develops new technology to produce palm-free vegan margarine

SWITZERLAND – Replacing solid palm fat with alternative oils in margarines will now become possible thanks to a new technology developed by leading Swiss producer of industrial and commercial margarines Grüninger AG. According to the company, the new technology makes it possible to produce palm-free, vegan and vegetarian margarines in which any off-note flavours are effectively taste-masked. The new technology is centred on a natural rosemary extract-derived antioxidant that extends the products’ shelf-life and increases heat stability during baking. Employed to overcome common hurdles that arise when replacing solid palm…

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Ethiopia opens mega edible oil processing factory worth US$113.7m to meet domestic demand

ETHIOPIA – Ethiopia has inaugurated the new PhiBela Edible Oil Factory worth Birr 4.5 billion (US$113.7m) in the Amhara regional state built by the multi-sectoral company, Belayneh Kinde Group. According to reports by New Business Ethiopia, the facility with a daily production capacity of 1.5 million litres of palm oil is deemed to be the largest edible oil factory in the country to potentially cover 60% of the country’s demand when fully operational. It will play a significant role of stabilizing the domestic market of edible oil before venturing into…

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Bidco Africa promotes health living with new Golden Fry cooking oil

Company name: Bidco Africa Product type: Cooking oil Innovation: Improved variant Bidco Africa Limited, one of the leading consumer good company in East Africa has launched an all-new Golden Fry cooking oil loaded with nutrients, in a bid to create a whole ‘healthwise’ community. According to the company, the nutritious cooking oil coming in a golden bottle with a refreshed new look is packed with antioxidants as well as vitamin A, D and E, among other nutrients. Its launch is in response to the rising cases of chronic diseases such…

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