WORLD – Cargill has announced plans to cut around 200 technology roles globally as part of a strategic shift towards enhancing its digital and data capabilities.  A company representative stated that the restructuring aims to align the workforce with Cargill’s future technological and growth objectives.  The company assured support and care for the employees impacted by these changes. Despite the layoffs, Cargill is investing in its digital future.  Last month, the agribusiness giant revealed plans to establish a new office hub in Atlanta dedicated to its Digital Technology and ..read more

USA – Smithfield Foods, a pork producer and supplier, recently contributed US$10,000 and 30,500 pounds of protein to the Lumbee Regional Development Association, Inc. (LRDA).  This organization is dedicated to enhancing the social and economic conditions of Lumbee Indian communities in North Carolina. The donated food items included a variety of Smithfield® products such as Power Bites, smoked sausage, lunch meat, bacon, ham, hot dogs, chops, ribs, tenderloins, picnics, and ground pork.  These contributions will supply over 122,000 servings of nutritious protein to Lumbee tribe memb ..read more

TANZANIA – Tanzania Breweries Ltd (TBL), a subsidiary of AB InBev, has successfully sold its entire 60 percent stake in the beer manufacturing subsidiary Darbrew Ltd.  These moves are part of a strategic turnaround plan for TBL’s struggling and dormant units.  The sale of Darbrew Ltd was approved by TBL’s board on August 7, 2019, due to the subsidiary’s non-performance. However, the transaction faced delays for undisclosed reasons and was only completed during the accounting period ending December 31, 2023.   Darbrew Ltd was sold to a core shareholder, the Dar es Salaam City Co ..read more

SWITZERLAND – Nestlé, the multinational coffee company, has reported a 2.7 percent decrease in sales to CHF 45.0 billion (US$50.95M) for the first half of 2024.   Despite this decline, the company achieved organic growth of 2.1 percent, with a slight positive real internal growth (RIG) of 0.1 percent for the first half and 2.2 percent for the second quarter.   This improvement was observed across all zones and categories, driven by a pricing increase of 2.0 percent and an enhancement in real internal growth.  Geographically, organic growth was bolstered by strong performance in ..read more

SOUTH AFRICA—The South African Reserve Bank (SARB) has revealed that the country’s food inflation has declined for the seventh consecutive month to reach a four-year low of 4.1% on a year-on-year (YoY) basis in June 2024 compared to June 2023.   Food subcategories aside from bread, cereals, and meat continued to decline and were led by oils and fats. Annual bread and cereal inflation increased by 1.2% from May to 5.2% YoY in June 2024. According to SARB, this slight price increase reflects the drought-induced price increases in the grain market experienced in the past few months.  S ..read more

CABO VERDE – EU fishers have regained access to the abundant waters around Cabo Verde for the next five years, thanks to a recently signed Fisheries Partnership Agreement.  This deal not only allows fishing vessels from EU member states to operate in Cabo Verde’s waters but also emphasizes improved fisheries governance, marine environment protection, and job creation in the sector. Upon ratification, the agreement will permit EU vessels to catch up to 7,000 tonnes of tuna and associated species annually.  Cabo Verde, known for its vast maritime resources, encompasses a land area of ..read more

USA – Juicy Marbles, a leading innovator in the plant-based meat industry, has unveiled its latest product: plant-based Baby Ribs with bones.  This retail-ready product is an enhanced version of their previously limited-release Bone-In Ribs, incorporating feedback from customers to improve both taste and nutritional content. The new Baby Ribs feature a groundbreaking recipe platform called Marble 3.0, which ensures a clean label free of common binders and thickeners like methylcellulose.  Each serving delivers a complete amino acid profile with 32 grams of protein, and the product b ..read more

INDIA – United Spirits, a subsidiary of beverage giant Diageo, has acquired minority stakes in two promising Indian startups, V9 Beverages and Indie Brews and Spirits.  These strategic investments are aimed at tapping into the emerging trends of non-alcoholic drinks and coffee liqueurs in the Indian market.  V9 Beverages, a zero-alcohol spirit distiller founded in 2020, offers a range of non-alcoholic products including Sober Gin, Sober Whiskey, and Sober Rum.   United Spirits has purchased a 15 percent stake in V9 Beverages for Rs 22.9 million (US$273,570). This move aligns wi ..read more

MEXICO – Coca-Cola FEMSA, the world’s largest Coca-Cola franchise bottler by sales volume, has announced plans to expand its capacity to meet growing demand by setting up new production plants in Mexico and Brazil.   CEO Ian Craig shared that the company is executing a capacity expansion plan initiated last year, aiming for a 15 percent increase in capacity by the end of 2025.  Craig explained that Coca-Cola FEMSA is focusing on maximizing its current facilities by adding production lines and increasing the capacity of existing assets.   “Eventually, we will need a new plant to ..read more

UK – Lucozade, the renowned British brand of soft and energy drinks, is set to enhance its Alert brand portfolio with the introduction of two new flavors: Lucozade Alert Ultimate Energy and Lucozade Alert Zero Sugar.   These new offerings, available in 250ml cans, will be on shelves starting in August, catering to the growing consumer demand for smaller, convenient formats.  Lucozade Alert Ultimate Energy features a brand-new guarana flavor, while the Mango Peachade Zero 250ml can brings a zero-sugar option in a smaller size.   These launches aim to attract new shoppers to the ..read more