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SOUTH AFRICA – South African food producer Premier Group has posted a near 40% jump in annual profit despite increasing commodity prices and rising inflation According to the company, the headline earnings reported on June 6 correspond to earnings per share of 634 cents for the year ended 31 March, up from 453 cents a year earlier. In addition, the company…
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SOUTH AFRICA- MC (Mühlenchemie) is expanding its presence in Africa, opening its third African location, Stern Ingredients South Africa, with labs and a technology center. The other two existing locations include one in Lagos and one in Nairobi, and this new addition means that MC can perform the entire value-addition chain in flour improvement and fortification on-site, from sourcing, rheology,…
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SOUTH AFRICA- The BRICS (Brazil, Russia, India, China, and South Africa) foreign ministers concluded their meeting at Cape Town in South Africa, calling for full and effective implementation of the Black Sea Grain Initiative. These leaders strongly condemned terrorism in all its forms and manifestations whenever, wherever, and by whomsoever committed. The foreign minister recognized the threat emanating from terrorism…
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SOUTH AFRICA – Pioneer Foods, a subsidiary of PepsiCo South Africa has acquired the remaining half of Futurelife Health, eight years after buying its initial stake in the maker of nutrient-dense breakfast cereals and snacks. BizCommunity reports that the transaction, which is subject to some administrative condition’s precedent, is expected to close and be effective in the first week of…
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SOUTH AFRICA – Astral Foods, the largest integrated poultry producer in South Africa has hinted that it expects to report an 87% to 92% decrease in profits in its interim results, Engineering news reports. In a trading update, Astral said it now has reasonable certainty that both earnings per share (EPS) and headline earnings per share (HEPS) for the six…
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SOUTH AFRICA – South Bakels, the market leader for bakery ingredient solutions and supplier to the South African bakery industry, has announced the completion of its acquisition of Orley Foods, a subsidiary of Kerry South Africa for an undisclosed sum. South Bakels company produces and distributes a diverse range of premixes and specialized ingredients, catering to various bakery sectors. According…
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SOUTH AFRICA – Oilseed production in South Africa is forecast to reach a historic high of 3.6 million metric tons with a planted area of 1.8 million hectares in the marketing year 2023/24, according to the US Department of Agriculture (USDA). As a result, Post forecasts that South Africa’s oilseed export will reach a record high of 800,000 MT in…
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SOUTH AFRICA – South Africa expects to maintain its status as a net exporter of corn in MY 2023/24 with 2.3 million metric tons (MMT) of corn exports despite the flattened planted area, the Foreign Agricultural Service of the US Department of Agriculture (USDA) reports. According to USDA, South Africa’s corn crop for the MY 2023/24 could reach 15.8 MMT…
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SOUTH AFRICA – South African farmers are expected to harvest 2.65% more maize in the 2022/2023 season compared with the previous season, according to the latest forecast the by Crop Estimates Committee (CEC). According to CEC, the estimate for South Africa’s total corn crop (subsistence and commercial production) for the second summer crop is estimated at 15.88 million tonnes, up from…
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SOUTH AFRICA – Premier Group, one of the oldest and most renowned food producers in South Africa, saw its shares surge by more than 11% after its successful listing on the stock market, the company has reported. The company, owned by billionaire Christo Wiese’s private equity firm Brait, has a strong presence in the South African market with its top…
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