Iran sanctions lifted, but rising Saudi tensions threaten food trade
The lifting of sanctions against Iran will open up new possibilities for the food sector, but growing tensions with Saudi Arabia makes GCC trade less certain.
Archives for January 28, 2016
Coffee boom brewing at Gulfood
Next month’s Gulfood will have a distinct coffee flavour, as the booming regional coffee sector hits around US$6.5bn – or 8% of the global coffee market.
Middle East shines in tough Brazil agribusiness export market
Brazil’s agribusiness sales to the Middle East totalled US$7.2bn in 2015, making up 8% of the country’s agribusiness exports, and staying steady while other regions fell in value.
Philippines and New Zealand establish food safety pact
The Philippines has signed an agreement with New Zealand to strengthen co-operation in food safety between the countries.
Feature
Orchard process provides cool solution to heat stressed vines
Evaporative cooling systems are being used in South Australian vineyards as part of a project to protect grapes during heat waves ahead of harvest.
Almarai profits up 14%, but costs set to soar
Almarai announced a 14.4% increase in annual profits, to US$510m, but said it expected costs to rise US$133m in 2016 due to increased costs, as it bought US land worth US$31.8m.
Vietnam targets food poisoning reduction as a priority in 2016
Food safety officials in Vietnam have highlighted the prevention of food poisoning outbreaks among its priorities for 2016.
Dateline Southeast Asia
Gaining a picture of Vietnam’s tastes through its new product launches
Vietnam is in the midst of near-10% annual growth in overall food sales, according to Innova research, which names rising affluence and an ongoing expansion of the country’s mass grocery retail industry as the main catalysts for this increase.
Del Monte eyes KSA and Jordan farms
Del Monte is planning to acquire farms in Saudi Arabia and Jordan, to add to its current UAE and Turkey sites, and is planning new regional product launches at Gulfood.
Savola annual profit down 13%, as new CEO takes over
Savola’s full-year profits were down 13.5% on 2014 at US$478m thanks to a subsidiary sale, as Q4 profits beat analyst predictions, and the firm announced a new CEO appointment.
Fonterra cuts forecast milk price
Fonterra Co-operative Group Limited has reduced its forecast Farmgate Milk Price for the 2015/16 season from $2.97 (NZ$4.60) per kgMS to $2.68 (NZ$4.15) per kgMS.
REPORTS FROM THE 2016 IDFA DAIRY FORUM
Globalization and adaptation: The future of dairy cooperatives
Globalization, information and innovation will be essential components for dairy cooperatives over the next decade, industry executives said at the 2016 IDFA Dairy Forum.