India export prices stay high on strong demand as local supplies dry up

INDIA – Rice export prices from India have hit their highest level since April 2021, benefiting from firm demand, stretched supplies, and elevated rates in Thailand. This comes at a time when supplies in India are also tightening after New Delhi decided to end its COVID-era free food program and replace it with a cheaper program.  During this price surge,…

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Tiger Brands appoints Pieter Craill as new Finance Director for cereals

SOUTH AFRICA – South African packaged goods company Tiger Brands has appointed Pieter Craill as the Financial Director for cereals effective from 1 February 2023. Peter joins the company from confectionery products maker Aldor Africa where he held the position of head of finance and administration. He previously served as the Chief Finance Officer of Mister Sweet, a major confectionery…

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Evonik invests US$27.3M to upgrade German methionine intermediates plant

GERMANY-Evonik, a world leader in specialty chemicals, has invested €25M (US$27.3M) in developing and expanding its methyl mercapto-propionaldehyde (MMP) production plant, an organic compound that is integral in the production of DL-methionine. Evonik, with a presence in more than 100 countries globally, said that the investment in Wesseling, Germany, is in line with its move to strengthen its world-scale global…

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ADM reports 60% jump in full-year profits, forecasts strong crush margins and high demand in 2023

USA- Archer-Daniels-Midland Co, (ADM), a major U.S. grains merchant, has posted an  annual net income profit of US$4.34 billion, a record 60% jump when compared to the same period last year.   The Chicago Illinois-based company ascribed the record growth in profits to robust soy crushing margins and hefty global demand for crops in Q2 that ended Dec 31, 2022.…

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Scoular debuts new name for food ingredients business to showcase capabilities in providing innovative ingredients to customers

USA — American commodity trading company Scoular has renamed its food ingredient business: Scoular Food Innovation in an effort to showcases its capabilities in providing innovative ingredients to customers. The company further notes that the new name reflects its “food industry expertise and experience supplying on-trend ingredients to meet growing consumer demand.” “Scoular has long been a reliable partner delivering…

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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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Brazil set for another record-breaking grain harvest in 2023, corn production forecast up by 8%

BRAZIL – Brazilian agricultural production is expected to continue growing in 2023, maintaining the trend of producing another record-breaking grain harvest, according to a report from the Foreign Agricultural Service (FAS) of the United Sates Department of Agriculture (USDA). In the report, the FAS post in Brazil maintained its corn planted area forecast at 22.5 million hectares (ha) for MY…

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BoMill launches ‘BoMill InSight’ to help millers optimize grain sorting operations

SWEDEN-The Swedish agritech company BoMill AB has launched a grain sorting solution brand BoMill InSight™, the first equipment of its kind, capable of sorting individual grains on their inner properties on a commercial scale. BoMill InSight features advanced grain sorting solution capabilities allowing for segregation of grains kernel by kernel, at an industrial speed of up to 15 metric tons…

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India records 13% drop in wheat prices after the government releases grain for flour millers

INDIA-Wheat prices in India have fallen nearly 13 percent following Prime Minister Narendra Modi’s government decision to release 3 million tonnes to bulk users such as flour millers. Following the directive, wheat prices in New Delhi fell to Rs 28,290 (US$347.11) a tonne, down 13 percent from last week’s high owing to low stocks. The decision did not however have…

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General Mills divests natural tortilla snacks company “Food Should Taste Good” 10 years after its acquisition

USA – General Mills has divested natural tortilla snacks company “Food Should Taste Good” to Real Food from the Ground Up for undisclosed sum. Founded in 2006 by Peter Lescoe, Minnesota-based Food Should Taste Good makes natural tortilla chips from corn, multi-grains, and black bean chips in a variety of flavors. The company also carries non-GMO credentials, producing plant-based snacks…

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