Sharp rise in operating profitability at Tereos in 2008/09 driven by a strong performance by diversification activities

Size: px
Start display at page:

Download "Sharp rise in operating profitability at Tereos in 2008/09 driven by a strong performance by diversification activities"

Transcription

1 Press release Lille, 10 March 2010 Sharp rise in operating profitability at Tereos in 2008/09 driven by a strong performance by diversification activities Sales of 3.3 billion Sharp rise in EBITDA to 429 million Continued expansion in Brazil and La Réunion. Strengthened partnership with cereal cooperatives Improved financial structure and ongoing debt reduction Outlook for 2009/10: EBITDA in excess of 500 million In 2008/09, in a difficult economic environment affected by volatile commodity prices and the end of the European Sugar Regime reform, the Tereos group reported a sharp rise in EBITDA and margins despite lower sales, driven by a solid performance in cereals processing in Europe and sugarcane processing in Brazil. Philippe Duval, Chairman of Tereos' Management Board, said: "In an environment that continues to be impacted by the economic crisis and highly volatile commodity prices, exchange rates and oil prices, the Tereos group reported a sharp rise in operating income while continuing to reduce debt. Our strong positions in sugar and alcohol in Europe, our diversification into cereals processing, the strengthening of our positions in Brazil and our expansion in La Réunion mean that we can look forward to the future with confidence. With the backing of our cooperative partners, cereal partners and financial partners, Tereos should continue to improve its operating performance in 2009/10. The Group is well set to become a key player in the current wave of consolidation in the agrifood business." 1

2 Financial performance m 2007/ /09 Change Sales 3, , % EBITDA % EBITDA margin 10.0% 13.0% +3 pts Net income (after price complements 1 ) % Net debt 1,684 1, % The Tereos group reported consolidated sales of 3,309.2 million in 2008/09 compared with 3,585.5 million in 2007/08, a limited fall of 7.7%. In Europe, Sugar & Alcohol sales fell by 5.9%, mainly due to lower benchmark prices in the European Union. Sales in the starch business fell by 17.7% under the combined effect of a shrinking market, lower prices and difficult conditions in the non-food sector. In Brazil, Sugar & Alcohol sales rose by 19.7% as a result of higher prices over the period. Consolidated EBITDA before price complements amounted to million compared with million in the previous period, a rise of 19.7% driven by a strong contribution from diversification activities, especially the group's cereals processing activities in Syral and BENP Lillebonne. While EBITDA at Tereos France remained stable at 153 million, EBITDA at Syral rose by 33.7% to 156 million over the period as a result of good positioning on high-margin products and cost controls coupled with a fall in cereals prices. Guarani in Brazil also contributed to the overall rise, reporting an increase in operating income to 67 million, while EBITDA at TTD in the Czech Republic rose to 25 million. Overall, diversification activities accounted for 61% of the group's sales and 64% of EBITDA. The EBITDA margin rose from 10% in 2007/08 to 13%. Current operating income before price complements rose sharply from million in 2007/08 to million in 2008/09. Net financial expenses totalled million at 30 September 2009, 9.6 million lower than in 2007/08. The improvement reflects a decline in the group's net debt and lower interest rates. After price complements, consolidated net income amounted to 76.8 million compared with million in the previous period. It should be noted that the figure for 2007/08 included exceptional income arising from compensation payments to Tereos France under the voluntary quota surrender plan. 1 Price complements: price supplements per tonne of sugar beet paid to cooperative partners 2

3 Ongoing debt reduction The group had a net debt/ebitda ratio of 3.71 in 2008/09 compared with 4.7 in the previous period. The Group is well within its banking covenants. Improved cash flow and reduced capital expenditure enabled the Tereos group to cut its net debt to 1,591.3 million, 5.5% lower than at 30 September Tereos France For the 2008/09 campaign, Tereos France had a quota of 1,188,000 tonnes. Sugar sales for all activities totalled 1,634,000 tonnes due to additional non-quota sales to export markets, the chemical industry and the yeast industry. Sales to the food industry in Europe are broadly stable. 66% of quota sugar sales to the food industry are outside of France. Sales of table sugar have risen significantly following an upturn in consumption. Alcohol sales fell slightly due to the effect of the economic crisis on our principal markets. The 2009/10 campaign was exceptional for Tereos France, with an excellent average yield of 94 tonnes per hectare at 16%, due in particular to favourable weather conditions. Tereos France's nine plants processed 15.5 million tonnes of sugar beet, 15% more than in 2008/09. With equilibrium on the market restored after the reform, it has been possible to reconstitute sales margins on quota activity. The opening of an export quota for non-quota sugar enabled the company to sell its entire surplus output on a global market characterised by shortages. Alcohol and ethanol sales have risen since the start of 2009/10. Cereal processing The European market for starch products fell by 6.8% in 2008/09, mainly in non-food sectors like the paper/paperboard and chemical industries. Faced with shrinking markets and falling commodity prices, the price of starch products also fell. In this context, Syral saw its sales of starch products decline but maintained its overall market share of 17% in a favourable overall trend. In the alcohol and bioethanol segment, Syral is consolidating its position as the leading supplier of high-quality grain alcohol for spirits and has seen its sales rise by over 30%. International In the Czech Republic (TTD), average yields reached record levels and the Dobrovice sugar plant and distillery ran at full capacity, confirming its position as Central Europe's leading facility. In Brazil, the 2009/10 campaign was marked by a surge in global sugar prices, dampened in Brazil by the appreciation of the real against the dollar. As a result of abundant rainfall, yields in terms of tonnes of sugarcane per hectare rose by 15%, though the sugar content, traditionally high in the Guarani region, fell by 6.5%. 3

4 Overall, Guarani's cane plantations increased by 11,400 hectares in the 2009/10 campaign to 217,600 hectares and Guarani processed 13.6 million tonnes of sugarcane in its five Brazilian plants over the period. This was similar to the figure in the previous period, due to an extended campaign which made up for the many stoppages caused by rain. Guarani's sugar production fell by 14% to 940,000 tonnes due to the lower sugar content of the processed canes. Bioethanol production fell by 5% to m3. In Mozambique, sugar production fell from 66,000 tonnes to 37,000 tonnes due to an exceptional drought during the 2009 campaign. Programmes to replant sugarcane and irrigate plantations are under way. The 2009 campaign in La Réunion was successful, yielding a harvest of 1,907,600 tonnes of sugarcane and 207,500 tonnes of sugar, compared with 194,000 tonnes in Events after 30 September 2009 In order to meet growing demand for high-quality grain alcohol from the spirits industry, Syral is building a new distillery at Selby in the UK. Situated in the heart of a wheat-producing area, the distillery will benefit from appropriate logistical connections and favourable industrial infrastructure. BENP's former plant at Origny has been relaunched as Distillerie de la Vallée de l'oise, producing high-quality grain alcohol for Bacardi. In February 2010, Guarani concluded an agreement alongside the Humus Group to acquire a 50% stake in Usina Vertente Ltda. The two partners will jointly operate the plant, which has a crushing capacity of 1.7 million tonnes of sugarcane and is located near Guarani's other factories. Vertente will produce about 117,000 tonnes of sugar and 72,000 m3 of bioethanol in the 2010/11 campaign. Guarani will bring a sugar plant into production on the site of the Tanabi distillery in 2010, producing 120,000 tonnes of sugar in a full year. At the end of 2009, Tereos concluded a preliminary agreement for the acquisition of a majority stake in Société Sucrière du Quartier Français, the holding company of the Quartier Français group. The Quartier Français group's sugar division produces 150,000 tonnes of sugar on La Réunion and 80,000 tonnes in Tanzania, in partnership with a Mauritian sugar producer. Tereos' sugar plant on La Réunion (Sucrerie de Bois-Rouge) together with that of the Quartier Français group (Sucrerie du Gol) will have a combined production capacity of 210,000 tonnes. The transaction will contribute to the consolidation and development of the cane/sugar/energy industry on La Réunion and to Tereos' refining and marketing activities in Europe and make Tereos Europe's biggest producer of cane sugar. The Tereos group has recently strengthened its links with its historical partners, the cereal cooperatives which, now grouped together within a single entity, Tereos Agro-Industrie, will be directly involved in the group's strategic decisions. 4

5 Outlook In a brighter environment across all its end markets, the Tereos group expects to see a further improvement in its operating performance in 2009/10, with EBITDA in excess of 500 million, once again demonstrating the resilience of the cooperative model and the wisdom of Tereos' long-standing diversification strategy. Acquisitions like those of Quartier Français in La Réunion and Vertente in Brazil will make a positive contribution to the group's performance. The group will also continue to improve its financial structure and reduce its debt. 5

6 About Tereos, a global producer of sugar, starch and alcohol Tereos is a cooperative agro-industrial group that specialises in the primary processing of sugar beet, sugarcane and cereals. Thanks to the commitment of the 12,000 French farmers who are its cooperative partners, the Tereos group has expanded considerably over the last twenty years, increasing its total production of sugar, starch and alcohol by a factor of 50. This expansion enables Tereos to respond to the challenge of increasingly international markets and volatile commodity prices. Its 33 production facilities in Europe, South America and Africa offer long-term outlets for 900,000 hectares of cultivated farmland. Tereos has a workforce of 13,500 permanent employees involved in producing and processing sugar beet, sugarcane and cereals and marketing a comprehensive range of sugars, starches and bioethanol, along with by-products used for animal feed and power generation. Thanks to its ability to anticipate future developments, its expertise, technological skills and knowledge of its markets, Tereos is now one of the world's leading players in its business areas. True to its long-term vision of agriculture, Tereos creates value from the natural resources it processes while reducing its environmental impact and offering employees a pleasant working environment. Key figures 12,000 cooperative partners 13,500 permanent employees 900,000 hectares of cultivated farmland 33 industrial facilities 3,000,000 tonnes of sugars 1,800,000 tonnes of starch-based products 1,500,000 m3 of alcohol and ethanol 3.3 billion in total sales Press contact Tereos Philippe Pelzer Tel: +33 (0) ppelzer@tereos.com Brunswick Agnès Catineau / Benoît Grange Tel: +33 (0) tereos@brunswickgroup.com 6

FACT SHEET MOLASSES FOR BIOENERGY AND BIO-BASED PRODUCTS

FACT SHEET MOLASSES FOR BIOENERGY AND BIO-BASED PRODUCTS FACT SHEET MOLASSES FOR BIOENERGY AND BIO-BASED PRODUCTS Brussels, 27 September 2017 WHAT IS MOLASSES? Molasses is a thick, sweet syrup obtained during the manufacture of beet or cane sugar. Molasses contains

More information

For personal use only

For personal use only ABNN 78 052 179 932 Company Announcements Australian Securities Exchange 24 February 2016 Australian Vintage Half Year Result to 31 December 20155 Branded Sales Dry Profit up by 80% % Key Points Net Profit

More information

ABN Australian Vintage Limited Full Year Result to 30 June 2018 Profit up 79% and Record Cash Flow

ABN Australian Vintage Limited Full Year Result to 30 June 2018 Profit up 79% and Record Cash Flow ABN 78 052 179 932 Company Announcements Australian Securities Exchange 29 August 2018 Key Points Australian Vintage Limited Full Year Result to 30 June 2018 Profit up 79% and Record Cash Flow Net Profit

More information

Ecobank s pan-african footprint. Africa-Asia trade flows

Ecobank s pan-african footprint. Africa-Asia trade flows Ecobank s pan-african footprint Africa-Asia trade flows Ghana, Côte d Ivoire and Nigeria: The changing face of West African cocoa Dr Edward George Head of Group Research, Ecobank Lagos, February 3rd 2016

More information

STATE OF THE VITIVINICULTURE WORLD MARKET

STATE OF THE VITIVINICULTURE WORLD MARKET STATE OF THE VITIVINICULTURE WORLD MARKET April 2018 1 Table of contents 1. VITICULTURAL PRODUCTION POTENTIAL 3 2. WINE PRODUCTION 5 3. WINE CONSUMPTION 7 4. INTERNATIONAL TRADE 9 Abbreviations: kha: thousands

More information

World of sugar PAGE 54

World of sugar PAGE 54 World of sugar More than 1 countries produce sugar, about 8% of which is made from sugar cane grown primarily in the tropical and sub-tropical zones of the southern hemisphere, and the balance from sugar

More information

Agriculture and Food Authority

Agriculture and Food Authority Agriculture and Food Authority Presentation by: SOLOMON ODERA Interim Head of Sugar Directorate Agriculture and Food Authority November, 2017 KENYA SUGARCANE INDUSTRY OUTLINE 1) Introduction 2) Kenyan

More information

Record exports in coffee year 2017/18

Record exports in coffee year 2017/18 Record exports in coffee year 2017/18 Total coffee exports increased each year since 2010/11 with a new record reached in 2017/18 at 121.86 million bags, 2% higher than 2016/17. In the twelve months ending

More information

2018/19 expected to be the second year of surplus

2018/19 expected to be the second year of surplus 2018/19 expected to be the second year of surplus Coffee year 2018/19 is expected to be the second consecutive season of surplus, as global output, estimated at 167.47 million bags, exceeds world consumption,

More information

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report

More information

Milk and Milk Products. Price and Trade Update. Weekly Newsletter. Milk and Milk Products. Price and Trade Update: April

Milk and Milk Products. Price and Trade Update. Weekly Newsletter. Milk and Milk Products. Price and Trade Update: April April Milk and Milk Products Price and Trade Update Weekly Newsletter Milk and Milk Products Price and Trade Update: April 1 PRICES: Remain depressed International dairy product prices began the year at

More information

Outlook for the World Coffee Market

Outlook for the World Coffee Market Outlook for the World Coffee Market 8 th AFRICAN FINE COFFEE CONFERENCE & EXHIBITION 17 to 19 February 2011 Arusha, Tanzania José Sette Executive Director a.i. 225 ICO composite indicator price Monthly:

More information

January 2015 WORLD GRAPE MARKET SUPPLY, DEMAND AND FORECAST

January 2015 WORLD GRAPE MARKET SUPPLY, DEMAND AND FORECAST January 2015 WORLD GRAPE MARKET SUPPLY, DEMAND AND FORECAST Table of Contents Executive Summary... 4 1. VARIETIES OF GRAPES... 6 1.1. White table grapes... 6 1.2. Red table grapes... 6 2. WORLD DEMAND

More information

Cocoa Prepared by Foresight October 3, 2018

Cocoa Prepared by Foresight October 3, 2018 Cocoa Prepared by Foresight October 3, 2018 TABLES Cocoa Bean Price Forecast... P. 4 World Cocoa Supply/Demand, Crop Year... P. 7 World Cocoa Production... P. 8 Cocoa Crops in Major Producing Countries...

More information

EU Sugar Market Report Quarterly report 04

EU Sugar Market Report Quarterly report 04 TABLE CONTENT Page 1 - EU sugar prices 1 2 - EU sugar production 3 3 - EU sugar import licences 5 4 - EU sugar balances 7 5 - EU molasses 10 1 - EU SUGAR PRICES Quota As indicated and expected in our EU

More information

ICC September 2018 Original: English. Emerging coffee markets: South and East Asia

ICC September 2018 Original: English. Emerging coffee markets: South and East Asia ICC 122-6 7 September 2018 Original: English E International Coffee Council 122 st Session 17 21 September 2018 London, UK Emerging coffee markets: South and East Asia Background 1. In accordance with

More information

Press release Vevey, October 18, Nestlé reports nine-month sales for 2018

Press release Vevey, October 18, Nestlé reports nine-month sales for 2018 Press release Vevey, October 18, 2018 Follow today's event live 14:00 CEST Investor call audio webcast Full details: https://www.nestle.com/media/mediaeventscalendar/allevents/2018-nine-month-sales Nestlé

More information

Foreword. Harvested area (hectares)

Foreword. Harvested area (hectares) OVERVIEW 3 SECTION 1 Foreword By Brian O Connell, Editor, Australian Sugarcane Brian O Connell. W elcome to the 2009 Australian Sugarcane Annual. At this time and in this space last year I was reflecting

More information

Consistently higher production and more exportable supplies from Thailand are major factors in the decline in world rice prices in 2014 and continued

Consistently higher production and more exportable supplies from Thailand are major factors in the decline in world rice prices in 2014 and continued Rice Consistently higher production and more exportable supplies from Thailand are major factors in the decline in world rice prices in 2014 and continued lower levels over the next ten years. Part of

More information

The supply and demand for oilseeds in South Africa

The supply and demand for oilseeds in South Africa THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report

More information

2016 was Telepizza Group s best year for chain sales 1 and EBITDA growth over the last decade

2016 was Telepizza Group s best year for chain sales 1 and EBITDA growth over the last decade Telepizza Full-Year Results for 2016 2016 was Telepizza Group s best year for chain sales 1 and EBITDA growth over the last decade Chain sales 1 grew by 7% to 517M while Underlying EBITDA rose by 10% to

More information

REMARKS BY PAUL BULCKE, GROUP CHIEF EXECUTIVE OFFICER, NESTLÉ S.A. MEDIA CONFERENCE, NAIROBI, FRIDAY, JULY 2, 2010

REMARKS BY PAUL BULCKE, GROUP CHIEF EXECUTIVE OFFICER, NESTLÉ S.A. MEDIA CONFERENCE, NAIROBI, FRIDAY, JULY 2, 2010 REMARKS BY PAUL BULCKE, GROUP CHIEF EXECUTIVE OFFICER, NESTLÉ S.A. MEDIA CONFERENCE, NAIROBI, FRIDAY, JULY 2, 2010 Disclaimer This speech might not reflect absolutely all exact words spoken. This speech

More information

$ BUY STARBUCKS CORPORATION (SBUX) Rena Kaufman. Valuation Methodology. Market Data. Financial Summary (7/1/2018) Profile. Financial Analysis

$ BUY STARBUCKS CORPORATION (SBUX) Rena Kaufman. Valuation Methodology. Market Data. Financial Summary (7/1/2018) Profile. Financial Analysis STARBUCKS CORPORATION (SBUX) Market Data Market Cap (intraday): $69,991M Enterprise Value (Aug 9, 2018): $74,898M Enterprise Value/EBITDA (ttm): 14.97x Rena Kaufman $51.88 - BUY Valuation Methodology Method

More information

Brazil Milk Cow Numbers and Milk Production per Cow,

Brazil Milk Cow Numbers and Milk Production per Cow, TABLE OF CONTENTS 1. Brazil 1.1. Brazil Milk Market Introduction 1.1.1. Brazil Cow Milk Market Production and Fluid Milk Consumption by Volume, 1.1.2. Brazil Milk Cow Numbers and Milk Production per Cow,

More information

Coffee market settles lower amidst strong global exports

Coffee market settles lower amidst strong global exports Coffee market settles lower amidst strong global exports The ICO composite indicator price declined by 1.2% in February 2018 to an average of 114.19 US cents/lb. Indicator prices for all three Arabica

More information

2017 FINANCIAL REVIEW

2017 FINANCIAL REVIEW 2017 FINANCIAL REVIEW In addition to activity, strategy, goals, and challenges, survey respondents also provided financial information from 2014, 2015, and 2016. Select results are provided below: 2016

More information

ACOS ETHIOPIA CASE STUDY

ACOS ETHIOPIA CASE STUDY OUR HISTORY It was only 2005 when Acos Ethiopia came to light from a pioneering idea of forward thinking people, the Pedon family. Ethiopia then was an even more challenging environment than it is now,

More information

EMBARGO TO ON FRIDAY 16 SEPTEMBER. Scotch Whisky Association. Exports of Scotch Whisky; Year to end of June 2016 (2016 H1)

EMBARGO TO ON FRIDAY 16 SEPTEMBER. Scotch Whisky Association. Exports of Scotch Whisky; Year to end of June 2016 (2016 H1) EMBARGO TO 00.01 ON FRIDAY 16 SEPTEMBER Scotch Whisky Association Exports of Scotch Whisky; Year to end of June 2016 (2016 H1) VOLUME UP 3.1% to 531 MILLION bottles VALUE DOWN SLIGHTLY BY 1.0% TO 1.70

More information

Sunflower seed COMMODITY PROFILE

Sunflower seed COMMODITY PROFILE Contents 1. Description of the industry............................ 1 2. Marketing structure................................. 3 3. Strategic challenges................................ 6 4. Other information..................................

More information

March 22, 2018 I Ratings. Sugar. Credit metrics improve but regional diversity prevails and challenges ahead. Background

March 22, 2018 I Ratings. Sugar. Credit metrics improve but regional diversity prevails and challenges ahead. Background Sugar Credit metrics improve but regional diversity prevails and challenges ahead March 22, 2018 I Ratings Background Driven by firm sugar prices resulting from favourable sugar balance, credit metrics

More information

FACT SHEET MOLASSES AS A FEEDSTOCK FOR APPLICATIONS FROM FEED TO ENERGY

FACT SHEET MOLASSES AS A FEEDSTOCK FOR APPLICATIONS FROM FEED TO ENERGY FACT SHEET MOLASSES AS A FEEDSTOCK FOR APPLICATIONS FROM FEED TO ENERGY Brussels, 10 November 2017 WHAT IS MOLASSES? Molasses is a thick, sweet syrup obtained during the transformation of beet or cane

More information

Prices for all coffee groups increased in May

Prices for all coffee groups increased in May Prices for all coffee groups increased in May In May 2018, the ICO composite indicator increased by 0.7% to an average of 113.34 US cents/lb, following three months of declines. Prices for all coffee groups

More information

The state of the European GI wines sector: a comparative analysis of performance

The state of the European GI wines sector: a comparative analysis of performance The state of the European GI wines sector: a comparative analysis of performance Special Report November 2017 1. Overview of a growing global wine market Wine is one of the most globalised products. The

More information

Preliminary unaudited financial results for the full year ended 30 June Amount for this reporting period

Preliminary unaudited financial results for the full year ended 30 June Amount for this reporting period Marlborough Wine Estates Group Limited Results for Announcement to the Market Preliminary unaudited financial results for the full year ended 30 June 2017 Reporting Period 1st July to 30th June 2017 Previous

More information

K+S Acquires Leading South American Salt Producer

K+S Acquires Leading South American Salt Producer Kassel, A New Position in the Worldwide Salt Business: K+S Acquires Leading South American Salt Producer On Saturday, 22 April 2006, K+S signed the agreement to acquire Chilean salt producer Sociedad Punta

More information

J / A V 9 / N O.

J / A V 9 / N O. July/Aug 2003 Volume 9 / NO. 7 See Story on Page 4 Implications for California Walnut Producers By Mechel S. Paggi, Ph.D. Global production of walnuts is forecast to be up 3 percent in 2002/03 reaching

More information

Financial Results for Fiscal Year Ending December 31, February 12, 2016 Suntory Beverage & Food Limited

Financial Results for Fiscal Year Ending December 31, February 12, 2016 Suntory Beverage & Food Limited 2016 SUNTORY 2013 BEVERAGE SUNTORY BEVERAGE & FOOD & LIMITED. Limited. All Rights All Reserved Rights Reserved. Financial for Fiscal Year Ending December 31, 2015 February 12, 2016 Suntory Beverage & Food

More information

Coffee market ends 2016/17 coffee year in deficit for the third consecutive year

Coffee market ends 2016/17 coffee year in deficit for the third consecutive year Coffee market ends 2016/17 coffee year in deficit for the third consecutive year The ICO composite indicator continued its downward trend that started at the end of August, averaging 124.46 US cents/lb.

More information

Peet's Coffee & Tea, Inc. Reports 62% Increase in Second Quarter 2008 Diluted Earnings Per Share

Peet's Coffee & Tea, Inc. Reports 62% Increase in Second Quarter 2008 Diluted Earnings Per Share Peet's Coffee & Tea, Inc. Reports 62% Increase in Second Quarter 2008 Diluted Earnings Per Share EMERYVILLE, Calif., July 31, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Peet's Coffee & Tea,

More information

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report

More information

DELIVERING REFRESHING SOFT DRINKS

DELIVERING REFRESHING SOFT DRINKS BEVERAGES DIVISION DELIVERING REFRESHING SOFT DRINKS Swire Beverages manufactures, markets and distributes refreshing soft drinks to consumers in Hong Kong, Taiwan, Mainland China and the USA. 46 215 PERFORMANCE

More information

Coffee prices rose slightly in January 2019

Coffee prices rose slightly in January 2019 Coffee prices rose slightly in January 2019 In January 2019, the ICO composite indicator rose by 0.9% to 101.56 US cents/lb as prices for all group indicators increased. After starting at a low of 99.16

More information

1

1 1 Introduction In his 213 budget, the then chancellor George Osborne abolished the beer duty escalator which increased beer duty by 2 per cent above the rate of inflation. A 1p cut in duty was also announced.

More information

SMALLHOLDER TEA FARMING AND VALUE CHAIN DEVELOPMENT IN CHINA

SMALLHOLDER TEA FARMING AND VALUE CHAIN DEVELOPMENT IN CHINA SMALLHOLDER TEA FARMING AND VALUE CHAIN DEVELOPMENT IN CHINA Intersessional Meeting of the Intergovernmental Group on Tea Rome, 5-6 May 2014 Cheng Fang, Economist, Trade and Markets Division, FAO Yanjiong

More information

Global Flavor and Fragrance Market Report

Global Flavor and Fragrance Market Report Global Flavor and Fragrance Market Report ---------------------------------------------------------------- 2012 Executive Summary The flavor and fragrances (F&F) industry involves companies that develop

More information

Coffee Holding Co. Inc. Buy Price Target: $6 Key Statistics as of 4/29/2016. Thesis Points: Company Description: JVA: NYSE

Coffee Holding Co. Inc. Buy Price Target: $6 Key Statistics as of 4/29/2016. Thesis Points: Company Description: JVA: NYSE Coffee Holding Co. Inc JVA: NYSE Analyst: Sector: Peter Ostrowski Consumer Staples Buy Price Target: $6 Key Statistics as of 4/29/2016 Thesis Points: Market Price: Industry: Market Cap: 52-Week Range:

More information

July 19, 2018 I Industry Research Sugarcane FRP increased to Increase in sugarcane FRP for season Rs.275 per quintal for

July 19, 2018 I Industry Research Sugarcane FRP increased to Increase in sugarcane FRP for season Rs.275 per quintal for Sugarcane FRP increased to Rs.275 per quintal for 2018-19 sugar season Contact: Madan Sabnavis Chief Economist madan.sabnavis@careratings.com 91-022-6754 3489 Bhagyashree C. Bhati Research Analyst bhagyashree.bhati@careratings.com

More information

The supply and demand for oilseeds in South Africa

The supply and demand for oilseeds in South Africa THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report

More information

Seeka Limited. Retail Investors March 2019

Seeka Limited. Retail Investors March 2019 Seeka Limited Retail Investors March 2019 Orchard-to-market excellence Seeka is an international fresh produce business In Australia Grow, process and market - Kiwifruit - Nashi pears - European pears

More information

Outlook for FCOJ in 2019/20

Outlook for FCOJ in 2019/20 December 2018 Outlook for FCOJ in 2019/20 The Orange Juice Market Moves Towards Balance RaboResearch Food & Agribusiness far.rabobank.com Andrés Padilla Senior Analyst Beverages +55 11 5503 7000 Contents

More information

Downward correction as funds respond to increasingly positive supply outlook

Downward correction as funds respond to increasingly positive supply outlook Downward correction as funds respond to increasingly positive supply outlook Coffee prices fell sharply at the end of April as institutional investors sold off their positions. The coffee market continues

More information

Record Exports for Coffee Year 2016/17

Record Exports for Coffee Year 2016/17 Record Exports for Coffee Year 2016/17 Total exports in September 2017 reached 8.34 million bags, compared to 9.8 million in September 2016. While coffee year 2016/17 registered a decrease in its final

More information

WORLD OILSEEDS AND PRODUCTS

WORLD OILSEEDS AND PRODUCTS WORLD OILSEEDS AND PRODUCTS 218 / World Oilseeds and Products: FAPRI 2004 Agricultural Outlook World Soybean and Soybean Products The world soybean price climbed strongly in 2003/04, driven by robust demand

More information

Boston Beer Company, Inc. SELL Price Target: $110 Key Statistics as of 04/29/2016. Thesis Points: Company Description: NYSE:SAM

Boston Beer Company, Inc. SELL Price Target: $110 Key Statistics as of 04/29/2016. Thesis Points: Company Description: NYSE:SAM Boston Beer Company, Inc. NYSE:SAM Analyst: Sector: Lionel Krupka Consumer Disc. SELL Price Target: $110 Key Statistics as of 04/29/2016 Market Price: Industry: Market Cap: 52-Week Range: Beta: $156.08

More information

Coffee market ends 2015/16 in deficit for the second consecutive year

Coffee market ends 2015/16 in deficit for the second consecutive year Coffee market ends 2015/16 in deficit for the second consecutive year The coffee market settled up by 5.5% in September, mostly driven by a steady increase in Robusta prices supported by concerns over

More information

Milk and Milk Products. Price and Trade Update: October

Milk and Milk Products. Price and Trade Update: October October Milk and Milk Products Price and Trade Update Weekly Newsletter Milk and Milk Products Price and Trade Update: October 1 INTERNATIONAL PRICES: Weak import demand causes prices to fall International

More information

Soft Commodity Markets - Upcoming Milestones, and How the Market Could Be Affected

Soft Commodity Markets - Upcoming Milestones, and How the Market Could Be Affected Soft Commodity Markets - Upcoming Milestones, and How the Market Could Be Affected September 15, 2014 Judith Ganes President J. Ganes Consulting, LLC Weather & Politics Current Weather Expectations El

More information

Chile. Tree Nuts Annual. Almonds and Walnuts Annual Report

Chile. Tree Nuts Annual. Almonds and Walnuts Annual Report THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report

More information

Financial Results for Fiscal Year Ending December 31, February 13, 2017 Suntory Beverage & Food Limited

Financial Results for Fiscal Year Ending December 31, February 13, 2017 Suntory Beverage & Food Limited 2017 SUNTORY 2013 BEVERAGE SUNTORY BEVERAGE & FOOD & LIMITED. Limited. All Rights All Reserved Rights Reserved. Financial Results for Fiscal Year Ending December 31, 2016 February 13, 2017 Suntory Beverage

More information

On the margins: Third Party Certification among Papua New Guinea smallholder coffee producers

On the margins: Third Party Certification among Papua New Guinea smallholder coffee producers On the margins: Third Party Certification among Papua New Guinea smallholder coffee producers Tim Martyn Agribusiness Specialist Land Resources Division Secretariat of the Pacific Community Suva, Fiji

More information

Paper and Pulp Foreign Trade

Paper and Pulp Foreign Trade 1 FORESTRY PRODUCTS INDUSTRIAL OPERATIONS DIVISIONS 2 Sector Department 1 Paper and Pulp Foreign Trade During 1998, international trade in paper and pulp totaled some US$ 87.5 billion (Figure 1), corresponding

More information

IN THIS ISSUE FEBRUARY Financial Calendar: Late September 2014 Annual Results Announced. 26 March 2014 Interim Results Announced

IN THIS ISSUE FEBRUARY Financial Calendar: Late September 2014 Annual Results Announced. 26 March 2014 Interim Results Announced FEBRUARY 2014 Welcome to our latest Global Dairy Update. This update is part of Fonterra s commitment to informing our farmers and wider stakeholders about the global dairy market, trends in New Zealand

More information

INDIA S SUGAR MARKET DYNAMICS:

INDIA S SUGAR MARKET DYNAMICS: INDIA S SUGAR MARKET DYNAMICS: ABINASH VERMA, DG, INDIAN SUGAR MILLS ASSOCIATION 2 AN OVERVIEW OF INDIAN SUGAR INDUSTRY Products and production 3 Annual sugar production is in the range: 25-28 million

More information

For personal use only

For personal use only 11 December 2013 FONTERRA MAINTAINS FORECAST FARMGATE MILK PRICE FOR 2013/14 SEASON AND CONTINUES INVESTING IN THE FUTURE Forecast Fonterra Co-operative Group Limited is maintaining its forecast Farmgate

More information

Foodservice EUROPE. 10 countries analyzed: AUSTRIA BELGIUM FRANCE GERMANY ITALY NETHERLANDS PORTUGAL SPAIN SWITZERLAND UK

Foodservice EUROPE. 10 countries analyzed: AUSTRIA BELGIUM FRANCE GERMANY ITALY NETHERLANDS PORTUGAL SPAIN SWITZERLAND UK Foodservice EUROPE MARKET INSIGHTS & CHALLENGES 2015 2016 2017 2020 Innovative European Foodservice Experts 18, avenue Marcel Anthonioz BP 28 01220 Divonne-les-Bains - France 10 countries analyzed: AUSTRIA

More information

DECEMBER 2015 HALF YEAR RESULTS BRANDED SALES DRIVES PROFIT UP BY 80% 24 th February 2016

DECEMBER 2015 HALF YEAR RESULTS BRANDED SALES DRIVES PROFIT UP BY 80% 24 th February 2016 DECEMBER 2015 HALF YEAR RESULTS BRANDED SALES DRIVES PROFIT UP BY 80% 24 th February 2016 Disclaimer The information in this presentation is general advice, given in good faith and derived from sources

More information

Gender equality in the coffee sector. Dr Christoph Sänger 122 nd Session of the International Coffee Council 17 September 2018

Gender equality in the coffee sector. Dr Christoph Sänger 122 nd Session of the International Coffee Council 17 September 2018 Gender equality in the coffee sector Dr Christoph Sänger 122 nd Session of the International Coffee Council 17 September 2018 Gender equality and the Sustainable Development Agenda Achieving gender equality

More information

The Protein Era Challenges and opportunities for traditional and novel protein sources

The Protein Era Challenges and opportunities for traditional and novel protein sources The Protein Era Challenges and opportunities for traditional and novel protein sources Sara Girardello - LMC International Ltd Feed Protein Vision, Amsterdam 6-7 th March 2018 2018 LMC International. All

More information

Germany is the largest importer of cheese and UK and Italy are the second- and third-largest importers.

Germany is the largest importer of cheese and UK and Italy are the second- and third-largest importers. EXTRACTSFROMTHEREPORT 1.Introduction 1.1. Background The cheese market has been one of the most dynamic food segments in the last 20 year with steady growth in production, consumption and international

More information

North America Ethyl Acetate Industry Outlook to Market Size, Company Share, Price Trends, Capacity Forecasts of All Active and Planned Plants

North America Ethyl Acetate Industry Outlook to Market Size, Company Share, Price Trends, Capacity Forecasts of All Active and Planned Plants North America Ethyl Acetate Industry Outlook to 2016 - Market Size, Company Share, Price Trends, Capacity Forecasts of All Active and Planned Plants Reference Code: GDCH0416RDB Publication Date: October

More information

donors forum: Project development/ funding AND Partnership Fair

donors forum: Project development/ funding AND Partnership Fair 122ND SESSION OF THE INTERNATIONAL COFFEE COUNCIL AND ASSOCIATED MEETINGS donors forum: Project development/ funding AND Partnership Fair 18 SEPTEMBER 2018, 14:30-16:30 INTERNATIONAL MARITIME ORGANIZATION

More information

Acreage Forecast

Acreage Forecast World (John Sandbakken and Larry Kleingartner) The sunflower is native to North America but commercialization of the plant took place in Russia. Sunflower oil is the preferred oil in most of Europe, Mexico

More information

M03/330/S(2) ECONOMICS STANDARD LEVEL PAPER 2. Wednesday 7 May 2003 (morning) 2 hours INSTRUCTIONS TO CANDIDATES

M03/330/S(2) ECONOMICS STANDARD LEVEL PAPER 2. Wednesday 7 May 2003 (morning) 2 hours INSTRUCTIONS TO CANDIDATES c PROGRAMA IB DIPLOMA PROGRAMME PROGRAMME DU DIPLÔME DU BI DEL DIPLOMA DEL BI M03/330/S(2) ECONOMICS STANDARD LEVEL PAPER 2 Wednesday 7 May 2003 (morning) 2 hours INSTRUCTIONS TO CANDIDATES! Do not open

More information

World sugar market. Platts/Kingsman EU conference Geneva 14th of April Benoît Boisleux

World sugar market. Platts/Kingsman EU conference Geneva 14th of April Benoît Boisleux World sugar market Platts/Kingsman EU conference Geneva 14th of April 215 Benoît Boisleux One year evolution of world prices NY 11 (2 nd month continuation) Cts/lb 2 Kingsman EU conf 8 April 214 NY 2nd

More information

Dairy Market. November 2017

Dairy Market. November 2017 Dairy Market Dairy Management Inc. R E P O R T Volume 20 No. 10 November 2017 DMI NMPF Overview U.S. Cheddar cheese prices hit a 10-month high in October, while butter prices softened but remained well

More information

Citrus: World Markets and Trade

Citrus: World Markets and Trade United States Department of Agriculture Foreign Agricultural Service Citrus: World Markets and Trade Oranges Global orange production for 2012/13 is forecast to drop over 4 percent from the previous year

More information

Economics Higher level Paper 2

Economics Higher level Paper 2 Economics Higher level Paper 2 Wednesday 4 November 2015 (morning) 1 hour 30 minutes Instructions to candidates ydo not open this examination paper until instructed to do so. yyou are not permitted access

More information

Global Dissolving Pulp Market Outlook China

Global Dissolving Pulp Market Outlook China Global Dissolving Pulp Market Outlook China RISI Asian Conference May 2017 Rod Young Chief Economic Advisor China Is The Driving Force Behind Dissolving Pulp Demand Viscose fibers lead the development

More information

China Sugar Industry Report, Oct. 2012

China Sugar Industry Report, Oct. 2012 China Sugar Industry Report, 2012-2014 Oct. 2012 STUDY GOAL AND OBJECTIVES This report provides the industry executives with strategically significant competitor information, analysis, insight and projection

More information

China s Export of Key Products of Pharmaceutical Raw Materials

China s Export of Key Products of Pharmaceutical Raw Materials China s Export of Key Products of Pharmaceutical Raw Materials During the period of the 62nd API China& INTERPHEX CHINA, China Pharmaceutical Industry Association released its annual Report on Analysis

More information

... AND IT OWNS AN 8.8% 8% STAKE IN GRUPO FINANCIERO BANORTE, WHICH HAS A MARKET VALUE OF AROUND US$750 MILLION

... AND IT OWNS AN 8.8% 8% STAKE IN GRUPO FINANCIERO BANORTE, WHICH HAS A MARKET VALUE OF AROUND US$750 MILLION NOVEMBER 2010 I. COMPANY OVERVIEW GRUMA IS THE WORLD S LARGEST CORN FLOUR AND TORTILLA PRODUCER, WITH OPERATIONS IN THE UNITED STATES, MEXICO, VENEZUELA, CENTRAL AMERICA, EUROPE, ASIA, AND OCEANIA... RGB

More information

Tea Statistics Report 2015

Tea Statistics Report 2015 Tea Statistics Report 215 Introduction This report presents the scope and scale of the UTZ tea program in 215. Throughout this report tea also includes rooibos unless otherwise specified. The statistics

More information

DEVELOPMENTS IN TURKISH STEEL INDUSTRY AND OUTLOOK

DEVELOPMENTS IN TURKISH STEEL INDUSTRY AND OUTLOOK DEVELOPMENTS IN TURKISH STEEL INDUSTRY AND OUTLOOK Dr. Veysel YAYAN Secretary General Turkish Iron and Steel Producers Association OECD Steel Commitee Meeting 17-18 May 2007, İstanbul 1 Crude steel production

More information

International Market Trends on Cocoa Trade for Sustainable Development Programme

International Market Trends on Cocoa Trade for Sustainable Development Programme International Market Trends on Cocoa Trade for Sustainable Development Programme Global Cocoa Trends: Production Primary cocoa growing regions are Africa, Asia and Latin America. Africa accounts for 70%

More information

CHAPTER 6 COMPARISON BETWEEN THE SUGAR INDUSTRY OF INDIA, BRAZIL, EUROPEAN UNION, THAILAND AND AUSTRALIA

CHAPTER 6 COMPARISON BETWEEN THE SUGAR INDUSTRY OF INDIA, BRAZIL, EUROPEAN UNION, THAILAND AND AUSTRALIA CHAPTER 6 COMPARISON BETWEEN THE SUGAR INDUSTRY OF INDIA, BRAZIL, EUROPEAN UNION, THAILAND AND AUSTRALIA CHAPTER 6 COMPARISON BETWEEN THE SUGAR INDUSTRY OF INDIA, BRAZIL, EUROPEAN UNION, THAILAND AND AUSTRALIA

More information

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report

More information

LETTER FROM THE EXECUTIVE DIRECTOR

LETTER FROM THE EXECUTIVE DIRECTOR E LETTER FROM THE EXECUTIVE DIRECTOR COFFEE MARKET REPORT December 2008 Price levels in December confirmed the downward trend recorded in the coffee market since September 2008. The monthly average of

More information

Nestlé three-month sales: 3.9% organic growth, 3.0% real internal growth, full-year outlook confirmed

Nestlé three-month sales: 3.9% organic growth, 3.0% real internal growth, full-year outlook confirmed Press release Vevey, 14 April 2016 Follow today's event live 08:30 CEST Investor call audio webcast Full details: http://www.nestle.com/media/mediaeventscalendar/allevents/2016-3m-sales Nestlé three-month

More information

The alcoholic beverage market in Mexico. Consumption and trends

The alcoholic beverage market in Mexico. Consumption and trends The alcoholic beverage market in Mexico. Consumption and trends According to figures from INEGI, revenue from the alcoholic beverage market not including beer rose from 3,061 million pesos in the first

More information

Majestic Wine 2013/14 Interim Results

Majestic Wine 2013/14 Interim Results Majestic Wine 2013/14 Interim Results Key Competitive Advantages > > Excellent customer service delivered by highly trained store teams > > Taste before you buy, free to attend wine events and wine courses

More information

Coffee market continues downward trend

Coffee market continues downward trend Coffee market continues downward trend Since August 2017, the ICO composite indicator price has declined in each month except January 2018. The composite indicator decreased by 1.1% in March 2018 to an

More information

Australian Vintage Ltd. December 2017 Half Year Results 21 st February 2018

Australian Vintage Ltd. December 2017 Half Year Results 21 st February 2018 Australian Vintage Ltd. December 2017 Half Year Results 21 st February 2018 Australian Vintage Ltd. December 2017 Half Year Results Disclaimer The presentation has been prepared by Australian Vintage Limited

More information

QUARTERLY REVIEW OF THE PERFORMANCE OF THE DAIRY INDUSTRY 1

QUARTERLY REVIEW OF THE PERFORMANCE OF THE DAIRY INDUSTRY 1 QUARTERLY REVIEW OF THE PERFORMANCE OF THE DAIRY INDUSTRY 1 The information in this document is from sources deemed to be correct. Milk SA, the MPO and SAMPRO are not responsible for the results of any

More information

Yum! Brands Drive Profitable International Expansion. Graham Allan YRI President

Yum! Brands Drive Profitable International Expansion. Graham Allan YRI President Yum! Brands Drive Profitable International Expansion Graham Allan YRI President Yum! International Division Agenda... 2006 Results/2007 Outlook Building Our Global Brands Future Growth Another Strong Year

More information

Three-month sales April 20, 2017 Nestlé three-month sales 2017

Three-month sales April 20, 2017 Nestlé three-month sales 2017 Three-month sales 2017 1 Disclaimer This presentation contains forward looking statements which reflect Management s current views and estimates. The forward looking statements involve certain risks and

More information

GLOBAL DAIRY UPDATE KEY DATES MARCH 2017

GLOBAL DAIRY UPDATE KEY DATES MARCH 2017 MARCH 2017 GLOBAL DAIRY UPDATE European milk production decreased for the seventh consecutive month, while the US remains strong. The rate of decline in New Zealand production is easing. US exports continue

More information

Nestlé first-quarter sales: 4.3% organic growth, full-year outlook confirmed

Nestlé first-quarter sales: 4.3% organic growth, full-year outlook confirmed Press release Follow today's events live 08:30 CET Investor webcast Full details: http://www.nestle.com/media/mediaeventscalendar/allevents/2013- first-quarter-sales This press release is also available

More information

Volatility returns to the coffee market as prices stay low

Volatility returns to the coffee market as prices stay low Volatility returns to the coffee market as prices stay low Daily coffee prices hit their lowest level in 19 months during August, as commodity markets worldwide were negatively affected by currency movements

More information

Uruguay Cow Milk Market Production and Fluid Milk Consumption by Volume,

Uruguay Cow Milk Market Production and Fluid Milk Consumption by Volume, TABLE OF CONTENTS 1. Uruguay 1.1. Uruguay Milk Market Introduction 1.1.1. Uruguay Cow Milk Market Production and Fluid Milk Consumption by Volume, 1.1.2. Uruguay Milk Cow Numbers and Milk Production per

More information

STATE OF THE VITIVINICULTURE WORLD MARKET

STATE OF THE VITIVINICULTURE WORLD MARKET STATE OF THE VITIVINICULTURE WORLD MARKET April 2015 1 Table of contents 1. 2014 VITIVINICULTURAL PRODUCTION POTENTIAL 3 2. WINE PRODUCTION 5 3. WINE CONSUMPTION 7 4. INTERNATIONAL TRADE 9 Abbreviations:

More information