Cargill has just completed a “pivotal year”, says its annual report for 2015-16. The big question now is whether the world’s largest agricultural trading house will pivot back to growth.
The US company’s operating profit in its last financial year to the end of May was the lowest since 2011-12, dragged down by weak grain markets that form part of the broad slump in commodities prices.
In response to the downturn, Cargill executives are seeking to simplify and provide greater coherence to a 151-year-old company that has become a sprawling conglomerate. Cargill wants to expand in areas of existing strength and exit those activities where it has little or no competitive advantage.
> Read the full article in the Financial Times
Source: The Financial Times
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.