News

WHITE PLAINS, NEW YORK, U.S. — Despite significant accounting charges related to the company’s portfolio restructuring and headquarters relocation that dragged down financials, Bunge’s core business exceeded the company’s expectations for the third quarter, said Gregory A. Heckman, chief executive officer of the White Plains-based company.

“I don’t know that we could see a much more difficult environment than we’ve seen,” Heckman noted during an Oct. 30 conference call with analysts. “You can stack ASF (African swine fever), the on-again/off-again trade ...

CHICAGO, ILLINOIS, U.S. —Archer Daniels Midland Co. (ADM) has completed its acquisition of a controlling interest in Industries Centers, which will now be known as ADM Israel.

“By combining ADM’s unparalleled global network with the experience and capabilities of Industries Centers, ADM Israel offers customers in Israel unequalled service, including end-to-end supply chain management,” said Joe Taets, president of ADM’s Agricultural Services business unit. “We’re looking forward to expanding to offer both new and existing customers in Israel a wide array ...

KINGSTON, JAMAICA — Seprod Ltd. has partnered with Seaboard Corp. in an initiative that could see the companies develop a flour milling operation in Jamaica.

Richard Pandohie, chief executive officer of Seprod, told the Jamaica Observer that the companies are in the evaluation stage, trying to decide whether to acquire an international or local distribution entity or to build out a facility before the end of the year.

Tentative plans call for Seprod’s joint venture with Seaboard, known as Jamaica Grain & ...

CHICAGO, ILLINOIS, U.S. — In February one of Archer Daniels Midland Co.’s (ADM) corn processing complexes in Decatur, Illinois, U.S., was shut down twice due to a weather related power outage and a leak in one of its pipes.

“On Feb. 6, our Decatur corn processing complex suffered a weather-related power outage,” ADM said on March 24. “While working to restart the plant, we discovered a significant leak in a 72-inch pipe feeding cooling water to the mill. We shut the ...

CHICAGO, ILLINOIS, U.S. — Archer Daniels Midland Co. (ADM) board of directors has nominated Suzan F. Harrison to stand for election to the board at its upcoming annual stockholders’ meeting on May 4. Harrison, a 33-year veteran of Colgate Palmolive, is president of Global Oral Care and has served in several senior level positions at Colgate-Palmolive, including as president of Hill’s Pet Nutrition Inc. North America.

“Suzan Harrison would be a tremendous addition to ADM’s board of directors,” said Juan Luciano ...

KANSAS CITY, MISSOURI, U.S. — A proliferation of protein sources has made an impact on the food industry in recent years. Formulators may wish to do some homework on the ingredients, be they sourced from peas, beans or even algae. Is the supply of the protein source increasing? At what percentage may the ingredients be used in applications? Perhaps most importantly, how do they affect taste?

Experimenting with new protein sources may continue. The market for alternative proteins, or those beyond ...

MINNEAPOLIS, MINNESOTA, U.S. — For Cargill, a key goal is to be the most trusted source of sustainable products and services for its customers. To do that, the company is joining with others to build a food system that meets the needs of today while providing for the needs of tomorrow.

Ruth Kimmelshue, corporate senior vice-president of operations at Cargill.

“As we look to the future, we are ...

DENVER, COLORADO, U.S. — In December 2015, Ardent Mills unveiled plans to help U.S. wheat growers double organic wheat acres by 2019. Now, the flour-milling and ingredient company has expanded its producer program to a total of seven U.S. states and a Canadian province while adding more organic-certified milling and packaging locations along with storage.

Dan Dye, chief executive officer of Ardent Mills.

“Since our initial ...

WASHINGTON, D.C., U.S. — Russia is expected to be the world’s largest exporter of wheat in 2016-17, which, if realized, would mark the first time the nation has achieved the feat.

In its World Agricultural Supply and Demand Estimates (WASDE) issued Aug. 12, the U.S. Department of Agriculture (USDA) forecast Russia’s exports in 2016-17 at a record 30 million tonnes, reflecting a sharp increase in expected production.

The USDA raised Russia’s production forecast on “excellent growing conditions throughout the country and harvest ...