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USA- The New York Stock Exchange has notified Benson Hill, a food technology company, that it is not in compliance with the NYSE’s continued listing standards due to the company’s stock price falling below US$1 per share for a consecutive 30-day trading period. Benson Hill, which commenced trading on the NYSE in February 2021 at a price of US$11 per…
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NETHERLANDS- Viterra’s revenue reached US$28 billion in the first half of 2023, up 18% from US$24.3 billion recorded in the first half of last year, mostly driven by record sales volumes and the completed acquisition of Gavilon. In its financial report, released on 13th September, Viterra said that the earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first…
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CÔTE D’IVOIRE – Dekel Agri-Vision PLC, a United Kingdom-based agro-industrial company with subsidiaries in Côte d’Ivoire, has announced that crude palm oil and palm kernel production soared in August linked to the good performance of its Ayenouan project. From the update, the company said its financial outcomes for August were significantly robust when compared to the results from August last…
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SOUTH AFRICA – RCL Foods has reported an annual headline earnings per share slump of 45%, attributing the dip to increased production costs, load-shedding, and the extra sugar levy it had to pay. The company, which reported its year-to-end-June results on 4 September on the Johannesburg Stock Exchange, said that its key businesses particularly Rainbow chicken, bakery, and pet-food businesses…
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NIGERIA – Flour Mills of Nigeria PLC has recorded a sluggish operating profit due to a foreign exchange loss of N22.5 billion (US$29M) in the last quarter, giving rise to a loss before tax of N9.3 billion (US$12.09 million) for the first quarter ended June 30. World Grain, however, reports that the company has recorded impressive revenue, hitting N456.38 billion…
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SINGAPORE- Olam Group, one of the world’s biggest agricultural commodity traders, recently announced that it is targeting the Singapore-Saudi IPO of its agricultural unit by the first half of 2024. According to Euromoney, there have been much fewer listings in the recent past that go beyond real estate investments, and Olam’s listing will be a welcome exemption. Moreover, going ahead…
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USA – Post Holdings, a consumer-packaged goods holding company has reported net sales of US$1.9bn, an increase of 21.9% on the prior year on the back of a strong performance in its pet food and foodservice categories. Rob Vitale, president, and chief executive officer at Post Holdings, while announcing the company’s third-quarter earnings for the three-month period ended June 30,…
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USA – Ingredion, a leading global provider of ingredient solutions, has recorded robust profit growth from its operations in the second quarter of fiscal 2023, as production adjusts in response to shifting consumer demands. According to the company’s president and CEO James P. Zalie, net income for the quarter that ended June 30 was US$ 163 million, equal to US$2.46…
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USA- Benson Hill, a food technology company, is seeking partnerships to bolster its position in the animal feed market after entering a partnership with ADM to scale the production of high-protein soy ingredients for the North American market in August 2022. “The next step in our evolution will include more robust partnership models to leverage the full power of our…
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INDIA – Adani Wilmar, a leading packaged food company in India has denied speculation that the parent company, Adani Group was mulling the disposal of the 44% interest in the Adani Wilmar venture to raise funds for capital purposes. Headed up by chairman Gautam Adani, the Indian conglomerate kicks back after an initial Bloomberg News report that the flagship company of…
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