Saudi dairy Almarai’s net profit increases to $453m in 22
Saudi dairy giant, Almarai, recorded a 12.5 percent increase in net profit to SR1.7 billion ($453 million) in 2022, compared to SR1.5 billion recorded the previous year, driven by bakery and dairy segments. The Tadawul-listed firm saw its revenue rise by 18 percent to hit SR18.7 billion in 2022 from SR15.8 billion in 2021. The company’s revenue increase was mainly driven by its bakery segment, which was…
Changing the narrative about the power of dairy protein
Muscle-building” cookies, “refueling” smoothies and “satiating” breakfast foods often rely on protein to make such marketing claims — but not just any protein. Many food formulations are fueled by dairy proteins, namely whey, in one of its many formats. The choice of protein is an important marketing tool of the product’s “power.” Unfortunately, marketers are…
Danone Vows to Cut Methane Emissions From Milk by 30%
Danone aims to cut methane emissions from its fresh milk supply chain by almost one-third over the next seven years, becoming the first major food company to set targets in line with a pledge by 150 countries to reduce emissions of the greenhouse gas from cows’ burps. The Activia maker said steps including better management of…
Dairy prices edge up, volumes ease at auction – GDT events
International milk prices edged up but volumes fell in this month’s second Global Dairy Trade (GDT) auction on Tuesday. The GDT Price Index was down 0.1%, with an average selling price of $3,393 per tonne. The index lost 2.8% at the previous auction held on Jan. 3, the average selling prices being $3,365 per tonne,…
Despite price increases, dairy products continued to over perform in 2022
Dairy staples like milk, yogurt, and cheese continued to dominate the dairy segment in 2022, though numbers aren’t at pre-pandemic levels yet. Still, innovations in many dairy products are helping the category see increases as 2023 approaches. In its latest report, the International Dairy Deli Bakery Association (IDDBA) showed dairy sales were up 20% at…
Sports nutrition ingredients market to double
In good and times and bad, it is difficult to match the excitement of sports. Going hand-in-hand are sports nutrition products, which are difficult to top in the dairy industry regarding future growth. According to Global Market Insights, the sports nutrition ingredients market will hit a “grand slam” from 2023 to 2032. The market size…
Chinese localities supporting dairy farmers amid tough market conditions
Chinese animal husbandry associations and dairy industry associations have stepped up efforts to support dairy farmers and resolve the difficulties facing the industry, according to the Dairy Association of China (DAC). In the latest move, officials from husbandry associations and dairy industry associations in East China’s Shandong Province and North China’s Shanxi Province have had…
Supporting the Pakistan Dairy Industry
Historically, Pakistan has been a major player in the global dairy market. Its important role is reflected in the sector growth of 3.26 per cent in 2020-21, accounting for about 61.89pc of agriculture value additions and 14.06pc of the country’s GDP. As such, it is an important source of foreign exchange earnings, as well as…
World food prices hit record high in 2022 despite December fall
World food prices eased in December marking the ninth consecutive monthly fall, but gained more than 14 per cent in 2022 compared to the previous year, to reach the highest since records began, the UN food agency said on Friday. The Food and Agriculture Organization’s (FAO) food price index, which tracks international prices of the…
AMPE and MCVE updated to reflect further cost inflation
Processing costs for dairy products were subject to further inflationary pressures in the third quarter of 2022, reducing the value of our market indicators AMPE and MCVE. These changes will be implemented in the January update (due out 27 Jan). In Q3 2022, electricity costs saw the largest quarterly increase, rising by 28% on average from the…