Milling Middle East & Africa-Week 20, MidWeek News

LATEST AFRICAN & MIDDLE EAST NEWS

Foreafric to acquire majority stake in SIMS

MOROCCO –?Flour miller Forafric Maroc, a fully-owned subsidiary of Forafric Global PLC has declared its plans to acquire 90% of the share capital and voting rights of Société Industrielle de Minoterie du Sud (SIMS), a public limited company based in Marrakech ..?. .?MORE

Maize prices in Kenya hits historic high of KES 6100 amid shortage

KENYA?–?Maize prices in Kenya hit a historic high of KES 6,100 (US$44.44) for a 90-kilogram bag,??adding more pressure on flour and pain to the consumers who are already grappling with the high cost of living.?.?.?MORE

Kenya to cut down US$ 875.6M import on edible oils

KENYA –?The government of Kenya plans to halt?import bill for edible oils, which has skyrocketed to Sh120 billion (US$ 875.6M) annually through robust production .??.?.?.?MORE

ABE?receives?first batch of locally produced wheat

EGYPT –?The Agricultural Bank of Egypt (ABE) has announced that it has received the first batch of locally produced wheat in 2023, amounting to about 277,000 tonnes?.?.?.?MORE

Ghana partners Korea in a US$27M rice development project

GHANA –???The government of Korea has launched a US$27 million rice development project to boost rice production and aid Ghana’s quest to achieve national food security.?.?.?MORE

LATEST WORLD NEWS

Global wheat production forecast up 1.5M tons as Argentine prolonged drought dissipates: USDA

GLOBAL-?World wheat production is forecast at 789.8 million tons for 2023/24, up 1.5 million from 2022/23, as Argentina?expects to recover from severe drought, according to a?WASDE report by the USDA?. . .?MORE

Bayer foresees dismal 2023 results due to inflation and reduced prices

GERMANY-?Bayer estimates that its 2023 results will come in at the lower end of its targeted range, due to?cost inflation and a slump in prices of glyphosate-based weedkillers?. . .?MORE

Insights from our latest issue of MILLING MEA Magazine

ICYMI: In your latest Issue of Milling Middle East & Africa:

Discover the story behind Cake City, one of the leading cake shops in Kenya. Also in the issue, read about the status of the grain industry in Nigeria, the recent updates on Sorghum production in Africa as well as flour blend optimization tips for both millers and bakers.?

GrainCorp registers US$134m net profit to increased oilseed crush volumes?

AUSTRALIA-?GrainCorp reported US$134 million?in net profits for the first half of the 2023 financial year ending?March 31, led by an increase in oilseed crush volumes and a?canola bumper crop?.?.?.?MORE?

USA to have its smallest wheat harvest since 1957 in year 2023/24: USDA

USA-?In 2023/24, wheat harvests in the USA plains will likely be the lowest in nearly seven decades due to expected?drought, according to a WASDE report by the USDA?.?.?.?MORE

IFF launches new vital gluten replacer amid mixed Q1 financial results?

USA-?International Flavors & Fragrances (IFF) recently launched its?Enovera 2000 range in Europe, a vital gluten replacer?for whole wheat bread. .?.?MORE