AgraCity has told customers it will be unable to deliver outstanding product in a timely manner this spring due to cash flowproblems
AgraCity says it is unable to fill orders
AgraCity has told customers it will be unable to deliver outstanding product in a timely manner this spring due to cash flowproblems
ADM quarterly profit falls on weak crush margins, announces layoffs
Chicago | Reuters – Grains merchant Archer-Daniels-Midland ADM.N reported a drop in fourth-quarter profit on Tuesday, pressured by weak oilseed crush margins and uncertainty over U.S. biofuel policy, and said it would be laying off up to 700 employees globally this year. Chicago-based ADM said it aimed to cut costs by $500 million to $750 […] Read more
Opinion: The barons of the dinner table
New book pulls back the curtains on ag mercantilists
Reading Time: 2 minutes Glacier FarmMedia – Manufacturers are “an order of men whose interest is never exactly the same with that of the public.” That quote is originally from the first economist, Scotland’s Adam Smith, almost 250 years ago, and is repurposed by writer Eric Schlosser in the foreword of Iowan Austin Frerick’s new book, “Barons: Money, Power, […] Read more
Tyson Foods shares sink on worries over consumer demand, third quarter
Reuters – Tyson Foods TSN.N shares were on track for their worst one-day decline in a year on Monday after the U.S. meatpacker warned that consumers are under pressure from persistent inflation and high commodity costs could weigh on upcoming results. The Arkansas-based meatpacker reported second-quarter sales that fell short of analysts’ estimates, though profits […] Read more
Indigenous entrepreneurs speak to issues in Canadian agriculture
Access to funding one of the biggest barriers, say Indigenous entrepreneurs
Reading Time: 2 minutes Glacier FarmMedia – Indigenous entrepreneurs spoke about the challenges they face in agricultural business, and the importance of community, at the recent Future of Food Conference in Ottawa. Wabanaki Maple CEO and founder Jolene Johnson, Manitoulin Brewing Company co-owner Nishin Meawasige and Kitasoo Development Corporation general manager Isaiah Robinson spoke on a panel moderated by […] Read more
Agri-processing incentive lands first big fish
New tax credit program takes off with potato processor’s expansion plan
Reading Time: 3 minutes The Alberta government’s new tax credit has found its first buyer one year after the program was announced. The Little Potato Company (TLPC) just opened its doors on a new $40 million processing plant in Nisku, south of Edmonton, the location of its initial plant. The tipping point appears to have been the government’s Agri-Processing […] Read more
Crop giant Louis Dreyfus posts lower profit on calmer markets
Like its rivals, the grains merchant has seen profits ease after last year’s surge
Reading Time: 2 minutes Reuters – Louis Dreyfus Company has reported that its first-half net profits and sales have fallen compared to a last year, when markets were boosted by upheaval from the war in Ukraine. One of the world’s largest crop merchants, its rivals include Archer-Daniels-Midland, Bunge and Cargill. The company reported a group net profit of US$568 […] Read more
Fake meat is mostly a fake-out for now
Meat alternative companies have made big boasts, but the numbers are on the side of real animal products
Reading Time: 2 minutes Beyond Meat, Inc. has had almost 15 years to build a product lineup that is, as its name claims, beyond meat. By some business metrics, it has. The company, whose market capitalization was pegged at US$1.3 billion when it went public in 2018, recently reported April-to-June 2023 sales of $102 million. That sounds like a […] Read more
You grow food, but have you ever thought about making it?
Reading Time: 3 minutes It doesn’t sound like a farm show — and it’s not — but primary producers are one of the target audiences for the soon-to-be-launched Agri-Food Innovation Expo. “The initial event is a conference with a small trade show, with a bit of a focus on those who wish to expand their farm business and get […] Read more
Alberta lamb business sale finalized
Reading Time: < 1 minute Quebec company Préval Ag has completed its purchase of the Alberta lamb processing plant and large feedlot of the defunct North American Lamb Company. “For us, sourcing locally is essential, and we will therefore be working closely with local producers to expand the marketing of our lamb products in the Canadian market,” Alex Fontaine, president […] Read more
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