Field Notes: Australian water entitlements drop in value; IFM Investors and Graincorp sign MoU on sustainable aviation fuel
Agri Investor
Global coverage of the deals, firms and people driving agri-business today
Australian water entitlements drop in value; IFM Investors and GrainCorp sign MoU on sustainable aviation fuel; Helios Investments LLC hits $200 million first close on CLEAR Fund; Rabobank 's pork quarterly shows confidence returning; Rural Funds Management Limited to sell Dyamberin cattle station; L Catterton invests in Chinese beverage company Viee.
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First look
Australian water markets turn choppy
Australian water entitlements have fallen to their lowest value in three years, presenting potential opportunities for investors before government buybacks push prices higher. Economic adviser Aither 's latest report shows the Aither Entitlement Index dropping 4 percent for the second consecutive year, with values now 12 percent below their February 2023 peak.
They said it
“The countries or companies that seek these credits have to be very vigilant, so they do not play into the hands of those who unscrupulously carry out this type of crime”
Brazil’s environment minister Marina Silva urges international buyers of carbon credits to use caution after allegedly fraudulent offset schemes were uncovered on stolen land in the Amazon, in an interview with the Financial Times.
Fund watch
Helios Investments hits $200m for CLEAR Fund
Africa-focused private equity firm Helios Investment Partners has raised approximately $200 million in anchor commitments from eight institutions to reach a first close for its Climate, Energy Access and Resilience (CLEAR) Fund, which has a target of $400 million.
LP commitments have come from a raft of development finance institutions, including British International Investment , the European Investment Bank (EIB) , InfraCo Africa , the UK’s Foreign, Commonwealth and Development Office, via its Mobilist programme, among others.
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Pork
Pork quarterly shows mixed months ahead
The latest edition of Rabobank 's Global pork quarterly for Q3 2024 reports that positive factors are set to support confidence in pork supply chains in the coming months, but that significant risks remain. Concerns are particularly heightened around global trade dynamics, after China launched an anti-dumping probe into pork imports from the European Union. Continue reading...
Deals
IFM signs MoU to explore SAF
IFM Investors is leading an effort to establish a domestic renewable fuels industry in Australia in partnership with Australian petroleum company Ampol and agribusiness GrainCorp . The project, expected to cost more than A$2 billion, will seek to produce more than 500 million liters of sustainable aviation fuel annually – about 6 percent of Australia’s jet fuel demand as of 2023.
Moo-ving on: Australian wagyu property hits the market
Rural Funds Management Limited has listed its 1,728-hectare Dyamberin cattle property in New South Wales with an asking price of more than A$20 million. Acquired in 2018 for A$13.4 million, the property was leased to Stone Axe Pastoral Company , a wagyu producer and Roc Partners portfolio company.
VC fundraising
Agrovision , a vertically integrated grower, packer, shipper and marketer of superfruits, closed a $100 million funding round led by Aliment Capital that valued the business at more than $1 billion.
Growlink , a controlled environment agriculture provider of advanced IoT controllers, sensors and cultivation software, raised $2 million in a seed round led by Casa Verde Capital .