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Month: April 2023

Brazil soybean acreage to increase in year 2023-24 after five spectacular successive seasons: USDA

BRAZIL- Brazilian soybean acreage and production is forecast to increase in the 2023-24 marketing year after impressive records in 2022-23, according to a Global Agricultural Information Network (GAIN) report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. According to the FAS report, Brazilian producers will expand the soybean planted area to reach 45.2 million hectares(ha) in…

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Nestlé Toll House launches two plant-based chocolate flavors for baking

EUROPE – Nestlé, the world’s largest food company has taken a major industry leap with the launch of two new Vegan chocolate chips under its Toll House brand, intended to add flavor to baking. According to the company, the move followed the call to meet the demand for plant-based products for baking referring to a 2021 report by market research…

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Imota Rice Mill seeks US$216M to fully exploit its production capacity

NIGERIA – The Lagos State government has signed a funding agreement with the Lagos Commodities and Futures Exchange (LCFE) to raise US$ 216M from investors to reinforce the Imota rice mill operations in a bid to exploit its capacity. Imota mill was commissioned by Nigerian President Muhammadu Buhari early this year as the country pushes toward self-sufficiency in rice production. The…

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Jospong Group partners Komptech in US$ 33M deal to boost rice production

GHANA – The Jospong Group of Ghana (JGC), a diversified holding company has signed a 30-million-euro (US$33.1 million) agreement with the Austrian company Komptech in an initiative to increase rice production in Ghana. The initiative, implemented by JGC, is part of an agro-industrial project integrating the production and processing of rice to meet domestic and export market needs. According to Ecofin Agency,…

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Zimbabwean sunflower production is projected to hit 90 479 tonnes in the 2022/23 season, an 8-fold jump

ZIMBABWE- The Zimbabwean sunflower production is projected to reach 90 479 tonnes from 11 117 tonnes reaped last season, an 8-fold jump owing to increased production by the small-scale farmers. The projected surge follows the Crop, Livestock, and Fisheries Assessment Report (CLAFA2) for 2022/23, which revealed that the expected harvest would end the surging imports of crude sunflower oil hence…

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International Grains Council revises global flour trade higher

ENGLAND- In its 20th April 2023 report, the International Grains Council (IGC) revised global wheat flour trade in 2022-23 up 500,000 tonnes from its previous forecast of 13.8 million tonnes.  The new 14.3 million tonnes estimate is still well below the five-year average and historical peaks. However, if realized, it would represent a 2% increase over the 2021-22 trade total…

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ADM Q1 earnings exceed expectations thanks to Ag Services & Oilseeds segment 

USA- ADM has posted revenue of US$24.07 billion in its first-quarter results ending 31st March 2023, beating Wall Street projections of US$23.48 billion.  Additionally, ADM’s Q1 2023 earnings per share (EPS) were US$2.12, significantly higher than the US$1.86 EPS reported in the previous year.  “Our continued strong performance in the first quarter demonstrates ADM’s unique ability to deliver results through…

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Purina PetCare leads Nestle’s organic growth in Q1 2023 results 

SWITZERLAND- Nestle recently released its quarter one 2023 financial results, with Purina PetCare emerging as the largest contributor to its organic growth, owing to good momentum for science-based and premium brands Purina ONE, Purina Pro Plan, and Friskies.  According to the results released on 25th April, Purina PetCare sales reached US$5,267 million in the first quarter, compared to US$4,629 million…

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Bühler wins the Swiss Marketing Excellence Award, confirms Interpack showcases with new offerings 

SWITZERLAND- Swiss technology group Bühler has won the Swiss Marketing Excellence Award for their campaign series – “The most satisfying production lines.”  According to the Swiss Marketing Forum- the organizers of the awards- these awards are considered “The Oscars” of the Swiss marketing scene and celebrate the most creative ideas and successful marketing projects of every year. Buhler has excellent…

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Cargill invests US$50M in Australian oilseed crush capacity to meet international demand 

AUSTRALIA- Cargill will spend US$50 million in Australian operations, upgrading and expanding its Newcastle, Narrabri, and Footscray oilseed crush facilities to meet rising international demand for canola and cottonseed oil. According to an announcement by Cargill, Australian canola is in high demand globally for its use across food products, biodiesel, and as a feedstock.  Cargill processes over 680,000 tonnes of…

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