Olam Food Ingredients to develop dairy processing plant in New Zealand

NEW ZEALAND – Olam Food Ingredients, the ingredients arm of Singapore-headquartered food and agri-business company-Olam, has announced plans of setting up a new dairy processing facility in the North Island town of Tokoroa, New Zealand. The new processing plant investment by the global leader in natural and sustainable ingredient solutions, follows 10 years as an investor in the New Zealand dairy sector. It will become part of a global network that spans 20 major milk consumption markets, such as South-East Asia, China, the Middle East, and Africa further cementing its…

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Olam, IITA, E4D partner to support 5,000 Uganda coffee farmers improve their livelihoods

UGANDA – Olam Food Ingredients has partnered with the International Institute of Tropical Agriculture (IITA) and the GIZ Employment and Skills for Development in Africa (E4D) program to improve the livelihoods of 5,000 coffee farmers in the Mount Elgon region of the country. The project which is set to run for the next two and a half years aims to improve farmers’ livelihoods by enabling them to optimize their investment in coffee, earn more from other on-farm activities, and thus reduce the living income gap by 20 percent. This will…

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Olam International re-affirms commitment to protect wildlife, biodiversity in Congo through renewal of partnership

CONGO – Global food and agri-business firm, Olam International has renewed it partnership agreement with the Wildlife Conservation Society and the Republic of Congo to protect the country’s wildlife and biodiversity around the Nouabalé-Ndoki National Park in northern Congo. This innovative tripartite agreement was first signed in 1999 through Olam’s wood and forestry subsidiary, CIB, to mark the establishment of the PROGEPP (Nouabalé-Ndoki National Park Peripheral Ecosystems Management Project), which operates across three Forest Management Units (FMU). The Nouabalé-Ndoki National Park was created in 1993 with strong support from the…

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Olam to list food ingredients unit in London after first half profit jump

SINGAPORE – Agricultural commodity trading company Olam has picked London for the initial public offering of its multibillion-pound food ingredients business, as it looks to tap growing investor interest in healthy eating and nutrition.  The listing of Olam Food Ingredients (OFI) is part of a business overhaul flagged last year, under which it created two new core operating businesses: OFI and Olam Global Agri (OGA).  Reuters, citing people privy to the matter, said that the company is considering raising about 2 billion pounds (US$2.8 billion) from the IPO, funds which will…

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Olam Food Ingredients to acquire US private label spices manufacturer Olde Thompson for US$950m

US – Olam Food Ingredients has announced that it is acquiring Olde Thompson, a leading US private label spices and seasonings manufacturer, at an enterprise value of US$950 million. The company said the acquisition was made through its wholly owned subsidiary Olam Holdings Inc. According to a statement by the Singapore based firm, the acquisition aligns with its vision and accelerates its growth strategy of delivering sustainable, natural, value-added food and beverage ingredients and solutions. Established in 1944, Olde Thompson operates two highly automated bi-coastal facilities in Bayonne, New Jersey…

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Olam Food Ingredients establishes systems to rid cocoa supply systems of child labour and deforestation

UK – Olam Food Ingredients (OFI), a leading supplier of cocoa beans and cocoa ingredients, has announced the successful establishment of child labour and deforestation monitoring systems covering its entire supply chain. Child labour is defined by the International Labour Organisation as work that endangers children or interferes with their schooling. In the cocoa industry, the problem of child labour is rampant. The Payson Center for International Development and Technology Transfer estimates that approximately 1.8 million children in the Ivory Coast and Ghana may be exposed to the worst forms…

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Olam’s 2020 annual report, a reflection of a company committed to sustainable growth

SINGAPORE – Global food and agri-business company Olam International has released its 2020 Annual Report, highlighting its key achievements for the year with a particular focus on financial achievement and progress in sustainability commitments. The company noted in its report that it successfully navigated the pandemic and emerged stronger, with a robust operational financial performance in 2020. The company’s overall annual revenues went up 8.6%, totaling US$35.8 billion, including US$12.5 billion for its food division, despite the ongoing coronavirus pandemic. In the report, Olam was also proud of the significant…

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Olam secures US$1.45Bn financing facility to bolster its sustainability sourcing platform

SINGAPORE –  Leading global food and agri-business company,  Olam International Limited has secured a US$1.45 billion facility to help fund activities carried out over its AtSource sustainability insights platform. According to Olam, AtSource is  a “sustainability insights platform” which gives customers a view of their supply chain sustainability parameters. The agribusiness company further notes that the platform also provides insights into how the its customers can effect positive change within the ecosystem and create value for all.  Roel Van Poppel, CEO of AtSource, explains that the sustainability platfrom was created…

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Olam full year profits jumps 36% even as it makes significant progress in business re-organisation

SINGAPORE – leading food and agri-business company Olam International Limited (OIL), has reported a 36% jump in Profit after Tax and Minority Interests for the full year ending December 2020. This is despite of the company operating during a difficult work environment occasioned by the COVID-19 pandemic. During the year, Olam also reported that it had made significant progress in reorganization of its businesses. According to a statement from Olam, the reorganization process will create two new coherent operating groups that are well-positioned for further growth. Creation of two distinct…

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Nigeria wheat value chain players undertake initiative to bolster the sector

NIGERIA – Nigeria’s wheat value chain players and the government are rallying up support to boost the sector’s performance. According to reports by Nigeria News Agency, the Flour Milling Association of Nigeria (FMAN) has provided support to 800 farmers in Kano, Kebbi and Jigawa States to accelerate wheat cultivation. The farmers were provided with improved seeds variety, fertilisers, chemicals and 50 threshers under a soft loan scheme designed to enhance farmer access to inputs and extension services. Further to that, FMAN, in collaboration with Oxfam and agricultural research institutes, have…

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