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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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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GROWMARK snaps up Allied Seed based in Nampa, Idaho USA

USA-Agricultural cooperative GROWMARK, the majority owner of Allied Seed, LLC, has acquired the remaining ownership held by GreenPoint Ag Holdings, LLC for undisclosed terms. The transactions include seed production facilities, wholesale and retail agronomy facilities, and Agway’s equity interest in CF Industries and Allied Seed L.L.C. Launched in 2000, Allied Seed, based in Nampa, Idaho, US, offers a full line…

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BASF, Cargill expand partnership to offer high-performance enzyme solutions to animal protein producers in USA

USA- Agri-solution giants, BASF and Cargill, have extended their animal nutrition cooperation by expanding their presence in the United States in the quest to offer high-performance enzyme solutions to animal protein producers. The expanded partnership was announced at the International Production & Processing Expo (IPPE), taking place this week at the Georgia World Congress Center in Atlanta, Georgia, US. The…

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Ardent Mills maintains strong quarterly result, reports Conagra Brands

USA-Ardent Mills, one of the largest milling companies in the United States, has maintained an upward trajectory in the second quarter that ended November 27, 2022, according to a Form 10-Q filing by Conagra Brands, Inc. with the Securities and Exchange Commission. Conagra Brands, Inc, one of North America’s leading branded food companies, owns a 44% stake in Ardent Mills. The remaining…

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Cargill expands joint venture with CHS as Uralchem eyes takeover of its assets in Russia

USA – Agribusiness giants CHS and Cargill have announced the intent to expand the scope of their joint venture, TEMCO, by adding the Cargill-owned export grain terminal in Houston, Texas. The Houston terminal has a capacity of six million bushels of storage and is located approximately 40 miles inland from the Gulf of Mexico via Galveston Bay. It can simultaneously hold 350 rail cars…

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Ynsect partners ADM, Corporativo Kosmos in US$106m North American expansion drive

NORTH AMERICA – Ynsect, a France-based insect protein company, is on a North American charm offensive to woo more North Americans into embracing insect-based foods into their diets. The company has kickstarted the process by unveiling plans to invest US$106.57 million in building insect ingredient production sites in the United States and in Mexico Construction will begin by late 2023 and…

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Regulate ingredients as feeds, not drugs: US feed industry association urges FDA

USA – The American Feed Industry Association (AFIA) has urged the Food and Drug Administration’s Center for Veterinary Medicine (CVM) to regulate feed ingredients as feeds and not drugs as it is the case. In its submission to the agency, the association noted that the current framework lengthens the time feed ingredients with environmental or production claims from make to…

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