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Tag: Commodity & Trade Updates

Viterra partly credits Gavilon acquisition for stellar 2022 performance 

NETHERLANDS- Viterra experienced its most successful year on record in 2022, partly due to favorable market conditions, record production in major export regions, and completing its acquisition of Gavilon. Gavilon recently rebranded to Viterra after its acquisition by the Rotterdam-based grain handler in 2022.  With the acquisition of Gavilon, headquarters in Omaha, Nebraska, US, Viterra added 110 up-country sites in…

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LDC credits diversified global footprint for resilient Grains & Oilseeds 2022 results

NETHERLANDS – Louis Dreyfus Company (LDC) credits its diversified global footprint for the resilient performance of Grains & Oilseeds platform in 2022 as it reported a 44% increase in net profit, netting just over US$1 billion compared to US$697 million in 2021. Reporting its financial performance on March 2022, LDC cited significant challenges affecting the Grains and Oilseeds platform in…

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Global chickpea shortage may be easing shortly as cultivation increases 

GLOBAL- According to Tony Roelofs, Columbia Grain, Inc. (CGI)’s pulses vice president, the global chickpeas’ dearth could dissipate this year as more acreage goes to chickpea cultivation.  Global supplies of chickpeas decreased by as much as 20% in 2022 due to harsh weather conditions impacting U.S. production and international war cutting off exports from Ukraine and Russia. This shortage affected…

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CHS names Sarah Bovim Vice President of Government Affairs

USA- CHS Inc., a US-based agribusiness cooperative, announced the appointment of Sarah Bovim as vice president of government affairs on March 20.  Bovim brings more than 17 years of experience to CHS, leading government affairs and public policy for Whirlpool Corp. and Albertsons Companies (ACI), one of the largest US food and drug retailers. Before working in the private sector,…

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Russia extends black sea grain deal by 60 days

GLOBAL- On monday, 13th March 2023, Russia agreed to allow an extension of the Black Sea grain deal for 60 days, instead of 120 days, pushing the deadline two months into the future.  The last few weeks have carried an air of anticipation of the renewal of the Black Sea grain deal, whose 18th March deadline was looming. There have…

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Africa ventures deeper into Europe in search of wheat as supplies from Russia, Ukraine dry up

AFRICA – The impact of the Russo-Ukrainian war has forced many millers from the Eastern and Southern parts of Africa to venture deeper into Europe in search of a stable supply of wheat. This was revealed by Marvin Jaeger, AIT Regional Manager Africa, and the Middle East while presenting the 2023 wheat update to attendees at the just concluded Milling…

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Russia’s wheat exports to Algeria nearly quadrupled to 1.3 million tonnes in 2022 

RUSSIA- In 2022, Russia exported around 1.3 million tonnes of wheat to Algeria which is four times what Algeria imported from Russia in 2021- the Russian news agency Interfax reported.  Citing data from the export center of the Ministry of Agriculture, Interfax provided that the North African country imported 330,000 tonnes of wheat from Russia in 2021.  According to Eduard…

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Global wheat protein market to reach US$3.65 billion in 2026: Research and Markets

GLOBAL- The global wheat protein market could reach US$3.65 billion by 2026, according to a Research and Markets report.    The Wheat Protein Global Market Report 2022: by Product Type, Form, Nature, Application, and Region provides strategists, marketers, and senior management with the critical information they need to assess the global wheat protein market. The wheat protein market consists of sales…

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Global Soybean meal market to reach US$94.2 billion by 2031: Allied Market Research

GLOBAL- The global soybean meal industry is anticipated to generate US$94.2 billion by 2031, witnessing a CAGR of 4.9% from 2022 to 2031, according to Allied Market Research. The report, “Soybean Meal Market by Nature …, by Sales Channel…: Global Opportunity Analysis and Industry Forecast, 2021-2031“, was published last month. According to the report, the global soybean meal industry generated…

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Gavilon officially rebrands to Viterra in the US and Mexico after 2022 acquisition 

USA- Gavilon has finally rebranded as Viterra across its business in the United States and Mexico, following Viterra Ltd.’s purchase of the grains origination and storage and food ingredients business of Gavilon Agriculture Investment Inc. in 2022. Gavilon has been storing and distributing grains, oilseeds, and feed and food ingredients, to domestic and global markets, and will now be doing…

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