Malaysian plantation giant FGV Holdings posted a first quarter net loss on Friday due to disruptions to its palm oil production and charges related to a land lease agreement, while warning of ongoing challenges from the COVID-19 pandemic.
A fifth of cocoa purchases by multinational companies in Ivory Coast must be fulfilled by local firms in an effort to improve competition in the world's largest cocoa-exporting economy, according to a government decree on Wednesday.
Italian foodservice equipment maker Ali Group has made a $3.3 billion cash offer for U.S. rival Welbilt , a source close to the matter said on Friday, surpassing an offer made for the company last month.
4 Min Read
BEIJING/SINGAPORE, May 28 (Reuters) - China’s massive livestock sector is set to snap up millions of tonnes of wheat from the country’s winter harvest that began this month, extending a run of crop-switching in animal feed and further cooling demand for corn imports.
Corn imports surged last year after a decline in stockpiles and production, pushing up prices and reshaping global grain markets as feed producers and pig farmers scoured the world for supplies.
At the same time, China’s feed sector purchased record volumes of cheaper wheat from the 2020/21 season for use as a substitute for corn, traditionally the main grain in animal rations. “Feed demand for wheat is expected to remain very high in the new crop year, as wheat still has obvious advantages against old corn, based on current prices,” said Li Hongchao, a senior analyst with trade website Myagric.com.