U.S. Sugar Refiner Woes Mount as Mexico Deal Seen Chocking Supply
The sugar trade agreement between the U.S. and Mexico reached last month, which at first appeared as a big win for the U.S. sugar industry, is reducing imports of raw sugar from Mexico used by U.S. refiners, cutting critical feedstock. After months of disputes, the two countries reached an agreement that would set quotas and price limits on Me
Read moreKellogg Cuts Sales Forecast as U.S. Cereal Sales Fall
Kellogg Co., the world’s biggest maker of breakfast cereals, has posted a decline in sales in the U.S., its biggest market, for a fifth consecutive quarter. The company cut its full year sales and profits forecasts as a result of the increasing popularity of alternative breakfast foods such as yogurt and breakfast sandwiches. The cut to
Read morePilgrim’s Pride Unveils $6.4 Billion Bid for Hillshire
Pilgrim’s Pride, a top U.S. chicken producer has announced an unsolicited $6.39 billion takeover bid for Hillshire Brands as part of a plan to develop a ‘leading branded’ meat group. If pursued, the deal would create an animal protein giant with combined sales of $12.4 billion, however it would also mean that Hillshire would be require
Read moreWestern Australia Dairy Taps Into Camel Milk Market
A dairy in Perth, Australia may have created a way to address the country’s feral camel problem and make a profit. Australia has 750,000 feral camels across its desserts and Steve Geppert has been hired to turn these feral camels into milking animals for the business. Camel milk is a profitable sector with prices of approximately $20 per
Read moreAmul Dairy Invests Rs150crore (US$24.37 million) in Cattle Feed Plant
In order to secure feed for its milk producers, Kaira District Cooperative Milk Producer’s Union (Amul Dairy) is investing approximately US$24 million to establish a cattle feed plant with a capacity to manufacture 1,000 tons per day. With the addition of the new plant Amul Dairy is set to become Asia’s largest cattle feed manufacturer w
Read moreFund Manager Duxton Buys Farms in New Zealand
Despite concerns over how the country regulates foreign agricultural investments, Duxton Asset Management has invested in seven New Zealand sheep and cattle farms. Duxton which focuses on global alternative investments in agriculture, and emerging markets manages a portfolio of approximately US$620 million. The Singapore-based fund manager
Read moreHarper to Conclude Canada-EU Trade Deal on Trip to Brussels
Canada’s Prime Minister Stephen Harper is travelling to Brussels to meet with the President of the European Commission José Manuel Barroso to conclude talk on the Comprehensive Economic and Trade Agreement (CETA). As a result of the agreement Canada has agreed to raise cheese import quotas from the current 20,000 tons to 37,000 tons and t
Read moreSwiss to Vote on Ban for Speculation in Agricultural Commods
Switzerland’s Young Socialist party gained 130,000 signatures which under the country’s direct democratic system is enough to require the country to hold a vote on whether to ban speculation in agricultural commodities. Under the Swiss system the parliament can also propose alternate legislation which is usually more moderate. Commerzb
Read moreAmericans Going GaGa Over Indian Tea
Tea sales in U.S. restaurants, grocery stores, and shops equaled $15.7 billion in 2012. This figure represents an increase of 32% from 2007 sales. Within two years sales are expected to grow to $18 billion. India ships 7-8 million kg of tea to the U.S. annually and tea drinking is growing at a faster rate than coffee drinking. In the l
Read moreChinese Bid to Buy Kimberley Land for Beef and Sugar Production
Kimberly Agricultural Investments, a Chinese investment group has submitted a bid to buy 15,000 hectares of farmland in the Kimberly region of Western Australia. The company is interested in developing a major sugar industry in the region, as well as a meat-works capable of processing 500,000 head of cattle a year. Kimberly Agricultural In
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