Angola food import bill jumps to US$2.8B driven by rice, wheat, and palm oil imports

ANGOLA – Angola’s food import bill jumped to US$2.8 billion in 2022 thanks to a significant jump in food prices in the international market, Statistics director of the National Bank of Angola (BNA) Joel Futi has revealed. According to Futi, food prices accounted for 40% of the rise in the food import bill while volumes only accounted for 13.6%. Rice,…

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US Air Force moves to stop construction of wet corn mill by Chinese company

USA — The United States Air Force has moved to stop a Chinese company from constructing a wet corn mill in North America for national security reasons. The mill by Fufeng USA is a subsidiary of Fufeng Group Ltd., which is based in Qingdao, Shandong Province, China, is within 12 miles of a US air force base. Concerned about its…

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Zimbabwe makes steps towards wheat self-sufficiency with imports declining 11% in 2022

ZIMBABWE- Zimbabwe is making progress towards attaining self-sufficiency in wheat with import volumes declining 11% from 210 million kilograms in 2021 to 186 million in 2022. Zimbabwe which historically used to import 80 percent of wheat annually, has made steps towards increasing local production to substitute imports which end up depleting valuable foreign exchange reserves. Despite reduce imports, Zimbabwe still…

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Zambia intensifies campaign to recruit more farmers into rice production to meet local demand

ZAMBIA- The government of Zambia, under the Market Oriented Rice Development Project (MOReDeP), is on course to meet a target of farmers in the quest for increased rice production. The Market-Oriented Rice Development project (MOReDeP) has kickstarted the recruitment practice in Luapula Province, located in the northern part and among the top 5 rice producers of the country. Luapula Province…

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Sohar Flour Mills inaugurates US$52M facility to boost Oman’s grain storage capacity

OMAN-Sohar Flour Mills, a subsidiary of Oman Flour Mills, has inaugurated a new US$52 million grain storage facility to boost the country’s strategic grain reserve capacity. The facility with a capacity of 160,000 MT is in the Sohar Industrial Port, an essential deep-sea port lying at the center of global trade routes between Europe and Asia. The inauguration ceremony for…

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AFC steps up support for wheat production, surpasses hectarage target by 14%

ZIMBABWE-AFC Land and Development Bank, a Zimbabwean commercial banking, insurance, and leasing focusing on agricultural development, has confirmed a 14% rise in wheat hectarage in a US$10.5M investment. According to Ms. Caroline Mozhendi, the AFC Holdings group head of strategy, marketing, and communications, the initial target was 10,000 hectares but through its aid, the farmers realized 11,409 hectares under wheat.…

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Olam Group schemes on listing Olam Agric dual IPO by the first half of 2023

SINGAPORE – Singapore commodity trader Olam Group has outlined plans to list its majority-owned agri-business subsidiary, Olam Agri Holdings, as early as the first half of 2023. As per the company’s press release, plans are underway to list its majority-owned agri-business subsidiary, Olam Agri Holdings Pte. Ltd. (“OAHPL”), which holds the Olam Agribusiness, as early as H1 2023 (the “Olam…

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Zimbabwe Mercantile Exchange to aid GMB in national grain reserve management

ZIMBABWE-Zimbabwe Mercantile Exchange (ZMX), a sustainable marketing firm in commodity exchange, has been appointed to aid the Grain Marketing Board (GMB) in the management of the country’s Strategic Grain Reserve (SGR).   Established in 1931, GMB is the country’s leading grain trade and Marketing Company responsible to accord local grain producers a fair share of the local and export markets…

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Pakistani flour millers urge Punjab government to lift the wheat export ban to tame widespread shortages

PAKISTAN -Pakistan Flour Mills Association Khyber-Pakhtunkhwa chapter has called on the government to lift the ban on wheat movement from Punjab and increase the wheat quota as a measure to address the ongoing shortage. Then the ban imposed on May 13, 2022 affected all private wheat exports amid widespread loss of yield due to abnormal heat waves in the major…

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Kenya’s maize supply in jeopardy as traditional trade partners find lucrative markets elsewhere

KENYA- Kenya might have to find new suppliers for maize imports as Uganda and Tanzania, the country’s traditional source markets find new lucrative buyers for their maize crop. According to Business Focus, a Ugandan local daily, the two countries which both share a border with Kenya are now opting to sell their maize to South Sudan and the United Arab…

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