Reuters — Beyond Meat, a U.S. maker of plant-based burgers and sausages, said it expects to more than double its revenue and report breakeven EBITDA this year, sending the its shares up over 21 per cent. The company said it expects to record revenue of $210 million in 2019 (all figures US$), with break-even earnings, […] Read more
Beyond Meat sees sales more than doubling in 2019
USDA lowers Canadian canola export forecast
MarketsFarm — The slowing pace of Canadian canola exports, linked to the country’s trade dispute with China, saw the U.S. Department of Agriculture lower its forecast for Canadian canola exports in the current 2018-19 marketing year. In its latest Oilseeds: World Markets and Trade report, USDA’s Foreign Agricultural Service said actual Canadian exports could end […] Read more
Trudeau optimistic about making progress to end China canola ban
Ottawa/Chicago | Reuters — Canada is optimistic it can make progress this year in talks to persuade China to allow imports of Canadian canola seed to resume, Prime Minister Justin Trudeau said on Friday, even as tensions between Ottawa and Beijing reach new highs. Trudeau spoke hours after an industry group said Chinese importers had […] Read more
China forecasts rising soy imports to make up for less canola
Beijing | Reuters — China on Friday raised its forecast for soybean imports during the 2018-19 crop year to 85 million tonnes, up from 83.65 million in last month’s outlook, after the country’s customs agency suspended some imports of rival oilseed canola. China’s ministry of agriculture and rural affairs said in its monthly forecast on […] Read more
Richardson to buy Wesson cooking oil brand
A household name in U.S. cooking oils is set to become part of Canadian grain handler and oilseed processor Richardson International. Chicago-based Conagra Brands said Tuesday it will sell its Wesson oil brand and related assets — including a 280,000-square foot U.S. processing plant at Memphis — to Richardson for an undisclosed sum. Wesson-branded retail […] Read more
Canola crushing steady
CNS Canada — Canada’s domestic canola crushing remains steady year over year. Statistics Canada data show 742,573 tonnes of canola seed crushed in June this year, which marks a slight rise from 731,124 in June 2017 and 702,716 in the same month of 2016. Domestic crushers processed 765,216 tonnes of seed in May of this […] Read more
A+W to launch pulseburger next month
Canada’s second-biggest burger chain plans to roll out a new non-meat burger in the Canadian market starting in July. A+W Food Services of Canada on Thursday announced a July 9 release date for what it’s dubbed the Beyond Meat Burger at all its restaurants across the country, in what CEO Susan Senecal called “the fastest […] Read more
Smucker drops bid to buy Wesson Oil after U.S. objects
Washington | Reuters — J.M. Smucker Co. said on Tuesday it will abandon its plan to acquire Conagra Brands’ Wesson Oil brand after the U.S. Federal Trade Commission had moved to block the deal arguing it would likely lessen competition and violate anti-trust law. Mark Smucker, CEO of J.M. Smucker, said “it is not in […] Read more
Canola study on Alzheimer mice seen as ‘huge stretch’
Upon review, a U.S. study of what happened to mice bred for Alzheimer’s symptoms when canola oil was added to their diet doesn’t translate to a risk for people, researchers and the Canola Council of Canada say. The mouse study, which was published last week by researchers from Temple University in Philadelphia, examined mice genetically […] Read more
Study finds canola oil unhelpful against Alzheimer’s in mice
A U.S. study of mice genetically engineered to model Alzheimer’s disease has found those on a diet rich in canola oil were more prone to certain markers of the disease than the same type of mice on regular chow. The Canola Council of Canada, the value-chain industry group for the world’s top canola-exporting country, said […] Read more
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