Russia's grain harvest is set to grow by about 5 million tonnes a year thanks to its incorporation of four Ukrainian territories, Agriculture Minister Dmitry Patrushev said on Tuesday. "Considering the arable land that exists there, I think at least 5 million tonnes of grain will be added to the Russian savings box.
Nestle will spend more than 1 billion Swiss francs by 2030 on efforts to source coffee sustainably, the food company said on Tuesday, more than double its previous pledge. The move provides more evidence of how major consumer goods businesses are making changes to decades-old operational systems due to climate change concerns.
Japanese trading company Marubeni Corp (MARUF) said on Tuesday it had so far received $3 billion from the sale of U.S. unit Gavilon's grain business to commodities trader Glencore Plc's Viterra arm.
ICE exchange on Monday said that deliveries of raw sugar at the expiration of the October contract totaled 14,652 lots, or around 745,000 tonnes, confirming numbers from traders released on Friday. The exchange said that all the sugar to be delivered is of Brazilian origin.
Europe has experienced its worst bird flu crisis ever this year with nearly 50 million poultry culled, and the persistence of the virus over the summer has raised the risk of widespread infections next season, the EU's Food Safety Agency said.
Russia may start providing trade finance to importers of its grain as sanctions imposed on Moscow since it sent troops to Ukraine affect this financial instrument, Agriculture Minister Dmitry Patrushev said.
-French plant-based food company Bonduelle reported lower annual profits on Monday, hit by the COVID-19 crisis, bad crops, supply chain disruption and rising inflation.
A fifth vessel chartered by the United Nations World Food Programme, NEW ISLAND, has arrived at Ukraine's Black Sea port of Chornomorsk and will deliver Ukrainian wheat to Somalia, Ukraine's infrastructure ministry said on Sunday. Ukraine has already shipped wheat to Ethiopia, Yemen and Afghanistan under the programme.
Food giant Nestle plans to stop sourcing from subsidiaries of Astra Agro Lestari, a major Indonesian palm oil producer accused by environmental groups of land and human rights abuses. The move comes as multinationals face increased reputational and legal pressure from consumers and governments to clean up their global supply chains in the fight against climate change.
A U.S. appeals court refused on Friday to order U.S. Sugar to delay the closing of its deal to buy Imperial Sugar Co while the U.S. Justice Department presses on with its fight to stop the $315 million deal. The U.S. Court of Appeals for the Third Circuit in Philadelphia issued an order refusing to temporarily halt the deal while it hears arguments over whether it should proceed.
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