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Crops, Reuters

InVivo in talks to acquire French agribusiness Soufflet

Firms see limited overlap outside grain trading

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Paris | Reuters — Co-operative group InVivo has entered exclusive talks to acquire family-controlled Soufflet in a deal that would create one of Europe’s biggest agricultural businesses with 10 billion euros (C$15.5 billion) in sales, the French firms said on Wednesday. The potential consolidation comes as France, the European Union’s largest agricultural producer, is trying […] Read more
Barley, Crops, Markets, Reuters

Barley trade routes redrawn as China tariff hits Australian farmers

China's barley purchases from Canada more than double last year's

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Sydney/Paris | Reuters — Out in Australia’s grain fields, farmers have started harvesting one of their biggest-ever barley crops, after drought-relieving rains convinced many to plant to the edges of their paddocks. Yet the tractors are working under the cloud of a new tariff imposed by China — seen widely as retaliation for Australia’s push […] Read more
Crops, Markets, Reuters

Louis Dreyfus to gain first outside investor

Abu Dhabi's ADQ fund to acquire indirect 45 per cent stake

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Paris | Reuters — Louis Dreyfus Co. (LDC) has agreed to sell a 45 per cent stake to Abu Dhabi’s ADQ, the companies said on Wednesday, the first outside investment in the family-owned commodity merchant’s 169-year-old history. The deal comes after a search by chairwoman Margarita Louis-Dreyfus for an investor to relieve debt built up […] Read more
Crops, Reuters

Louis Dreyfus expects tough year on trade war, swine fever

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Paris | Reuters — Agricultural commodity giant Louis Dreyfus warned on Monday that international trade tensions and a swine disease epidemic would continue to weigh on its activities in the rest of the year after pushing down first-half profit. The interim results reversed a rebound in group profits in the second half of last year […] Read more
Canola, Crops, Markets, Reuters

Shut out of China, Canada finds canola buyers in drought-damaged Europe

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Winnipeg/Paris | Reuters — Crop-scorching drought in Europe is providing Canadian canola farmers a timely new opportunity to move supplies that have piled up since China stopped buying this year. Rising European sales are taking some of the sting out of losing the Chinese market for Canadian farmers, although ICE canola futures prices are down […] Read more
Reuters

Louis Dreyfus top shareholder gets finance to buy out minorities

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Paris | Reuters – Margarita Louis-Dreyfus, top shareholder of commodity giant Louis Dreyfus Company (LDC), said she had secured financing for a deal that requires her to buy out family minorities, a move that has created uncertainty over the firm’s funding. Minority family shareholders asked in 2015 to sell 16.6 percent of LDC’s holding company […] Read more
Crops, Reuters

French court suspends pesticides over potential harm to bees

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Paris | Reuters — A French court suspended on Friday the licence for two pesticides made by Dow Chemical, citing uncertainty over environmental risks including their effects on bees. The preliminary ruling by an administrative court in the city of Nice overturned a decision by France’s health and environment agency ANSES in September to grant […] Read more
Crops, Markets, Reuters

Grain company hunt goes on for Glencore

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Geneva | Reuters — Commodities giant Glencore has made unsuccessful moves for three or four smaller targets in the grain sector this year as it seeks acquisitions to grow upstream, the head of its agricultural arm said. “We have looked at three or four possibilities in our core area already this year but couldn’t reach […] Read more
Crops, Reuters

Dreyfus shareholders agree to arbitration over stake sale

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Amsterdam/Paris | Reuters — Family shareholders of commodity trader Louis Dreyfus have agreed to arbitration talks to settle a long-running dispute over a share sale, sources familiar with the matter have told Reuters. The tussle concerns an attempt by minority shareholders to sell nearly 17 per cent of the group’s holding firm to Margarita Louis-Dreyfus, […] Read more

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