Topic of the week
Innovations in Milk Processing 2024: Trends and Expert Opinions
In today's world, relevant and in-demand innovations for industrial production are fundamental to the stable existence of businesses. This is true for both food product manufacturing companies and solution and technology supplier companies.
Global Plant-Based Protein Market Projected to Surge to $23.82 Billion by 2033, Growing at a 5.4% CAGR
The global plant-based protein market is poised for significant growth, projected to expand from USD 14.08 billion in 2023 to approximately USD 23.82 billion by 2033, advancing at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2033. This forecast is based on a comprehensive market research study by Custom Market Insights.
Kerry Group and Lakeland Dairies Maintain April Milk Prices Amidst Market Fluctuations
This week, Kerry Group announced that its milk price for April will remain consistent with last month’s rate of 41 cents per liter. The company confirmed that the total price return, inclusive of VAT and bonuses based on Kerry’s average milk solids for April, will be approximately 43.71 cents per liter.
Dodla Dairy Posts Stellar Financial Performance with Over 100% Net Profit Increase in Q1 2024
Dodla Dairy has reported a significant increase in its financial performance for the quarter ended March 2024, with net profits soaring by 107.86% to Rs 46.83 crore, up from Rs 22.53 crore in the corresponding quarter of the previous year.
Philippines Pursues Qatari Investment in District Cooling and Dairy Production to Enhance Self-Sufficiency
The Philippines is actively seeking Qatari investment in district cooling and dairy production to boost its domestic capabilities in these sectors. DTI Secretary Alfredo E. Pascual recently spearheaded a delegation to Doha, engaging in strategic discussions with Sheikh Mohamed bin Hamad bin Qassim al-Abdullah al-Thani, the Qatari Minister of Commerce and Industry, and other key business leaders.
Potential Impact on Dairy Prices as Fonterra Considers Selling Consumer Brands
Fonterra, a major player in the global dairy industry, is contemplating the sale of its renowned consumer brands as part of a strategic pivot towards becoming a global business-to-business provider of dairy nutrition products. The brands potentially on the selling block include household names such as Anchor, Mainland, Kāpiti, Anlene, Anmum, Fernleaf, Western Star, and Perfect Italiano.
Analysts: Sale of Fonterra's Consumer Division May Change Dynamics of Dairy Sector Development in Regions
Leading dairy market analysts commented to The Dairynews.today on plans by New Zealand's largest cooperative, Fonterra, to sell its consumer goods division.
Danone Finalizes Sale of EDP Business in Russia to Vamin R LLC
Danone has successfully completed the sale of its Essential Dairy and Plant-Based (EDP) business in Russia to Vamin R LLC, following the necessary regulatory approvals.
Bega Group and Perich Group are being considered as candidates to purchase Fonterra's B2C dairy business
Fonterra, the global dairy conglomerate, has announced a strategic overhaul that includes selling its well-known Australian cheese brands, Bega, Perfect Italiano, and Western Star butter. This move marks a return to the company's foundational activities of milk collection, processing, and sales, moving away from consumer business ventures.
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