Louis Dreyfus to build coffee facility in Vietnam as Cargill eyes greater share of Asia-Pacific’s chocolate market

VIETNMAN – Agricultural commodity trading giant Louis Dreyfus Company (LDC) is expanding its presence in Vietnam through a new joint venture agreement with Poland-headquartered private label coffee company Instanta. Through the venture, the two companies are planning to build and operate a freeze-dried instant coffee plant in Binh Duong province, Vietnam. The joint venture will operate under the name ILD Coffee Vietnam, with construction expected to start in thefirst half of 2022 LDC says the joint venture presents another step in its strategy to pursue greater vertical integration and revenue…

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Vietnam dairy brand Vinamilk to launch in Philippines following partnership with Del Monte

PHILIPPINES – Vietnam Dairy Products JSC (Vinamilk), has partnered with Del Monte Philippines Inc. (DMPI) on a joint venture that will see vinamilk products launch in the Phillipines.  According to Dairy reporter, each company committed US$3 million to the project, which will use the co-brand of Del Monte-Vinamilk for its products.  The companies plan to leverage the brand equity of both corporations to make a presence in the highly lucrative Pilipino market.   The Philippines dairy market recorded robust growth in 2019 and is continuing to attract both regional and international players.   Additionally, the country has the second largest…

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Vietnam rice exports to plummet despite projected rise in production

VIETNAM – Vietnam is losing its market share for white rice to other competitors such as India and Thailand due to uncompetitive prices.  This is according to a recent Grain and Feed update by the United States Department of Agriculture (USDA).   In the report, USDA officials note that despite Vietnam white rice export prices declining from their peak of US$520 per MT in January to a low of US$490/MT in May 2021, prices of Vietnam five percent broken white rice continued to maintain a $100 per metric ton premium over India rice.  They further…

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ADM’s reports 76% rise in net earnings, expands feed premix offering with new acquisition

US — Agricultural commodities trading giant ADM started the year on a high note and has reported an impressive year-over-year earnings and sales growth during the first quarter of fiscal 2021.  Net earnings attributable to ADM in the first quarter ended March 31 jumped 76% to US$689 million from US$391 million recorded in the same period a year ago. Revenues for the first quarter, on the other hand surged 26%, climbing to US$18.89 billion from $14.97 billion. “I’m pleased to share with you results that demonstrate an outstanding start to…

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China soybean imports from US surge in March as Brazil temporarily halts import duties to curtail inflation

CHINA — China’s soybean imports from the United States in March increased 320% to 7.18 million tonnes as delivery from the world’s top soybean exporter Brazil delayed due to weather related interruptions. As a result of the delays, occasioned mainly by rain, imports from Brazil dropped 85% in March to 315,334 tonnes from 2.1 million tonnes in the same month in 2020. This, according to a report by Reuters, was the lowest monthly import total from Brazil since January 2017. Darin Friedrichs, senior analyst at StoneX, told Reuters the high…

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