Food, fuel price shocks to last at least 3 years – World Bank
World Bank expects energy prices to rise more than 50% Global food and fuel price shocks linked to the Russia-Ukraine war are set to last until at least the end of 2024 and raise the risk of stagflation, the World Bank said in its latest Commodities Market Outlook report. In its first comprehensive analysis of…
Why Lanka’s failed dairy experiment is glass half full
It was sometime in 1997. In Colombo, in the basement banquet hall of a five-star hotel, the “milk man of India” was addressing a press conference to announce a $20 million joint venture between the National Dairy Development Board and Sri Lanka’s state-owned MILCO. It would be called Kiriya — kiri being the Sinhalese word…
Four Startups Are Remaking Milk To Shape The Future Of Dairy
There’s no disputing the industrial dairy complex is problematic, particularly when it comes to fighting the climate crisis. Dairy farms across the world are a major contributor to the total greenhouse gas emissions over the life cycle of milk and other dairy products. We’re profiling four alternative dairy startups from around the world that are…
World’s largest precision fermentation facility to be set up by Remilk
Following the close of $120 million in Series B funding,Remilk, the food-tech innovator reimagining dairy, announced it will build the world’s largest full-scale precision fermentation facility on more than 750,000 square feet of newly acquired land within The Symbiosis project, a pioneering sustainable industrial ecosystem, in Kalundborg, Denmark. This next major milestone demonstrates Remilk’s continued leadership in the rapidly…
Anchor Dairy, Fonterra Brand Launches Organic carbonzero Certified Butter
Back and butter than ever! Anchor Dairy , the consumer brand of the globally-known New Zealand Dairy Co-operative Fonterra , is celebrating Earth Day early with the launch of its Organic carbonzero Certified Butter. . New Zealand has one of the lowest on-farm carbon footprints in the world, making Anchor uniquely qualified to offer a butter option to…
Slash the sugar in dairy products and use natural sugar alternatives
Dairy products made with natural sugar alternatives — and that deliver a satisfactory sensory experience — will resonate with today’s consumers. According to the American Heart Association, American adults consume an average of 77 grams of sugar per day, more than three times the recommended amount for women (25 grams) and more than twice that…
Dairy prices drop, volumes rise at auction SMP prices crashed by 4.2%
International milk prices fell while volumes rose in this month’s second Global Dairy Trade auction held by GDT Events. The GDT Price Index fell 3.6%, with an average selling price of $4,855 per tonne, in the auction held on Tuesday. The index fell 1% at the previous sale, according to GDT Events. A total of 22,179 tonnes was sold…
Supply chain companies play a “critical” role in reducing dairy emissions
There’s an urgent need to reduce — and remove — carbon in the atmosphere to stave off the most destructive impacts of climate change. But reducing methane emissions may be the fastest way to curb global warming. One particularly crucial industry to focus on: the dairy sector, according to a new report from the Transform to Net zero…
Profits of Saudi dairy giant Almarai climb 9% to $112m in Q1
Saudi-based dairy giant Almarai has recorded a 9-percent increase in profit for the first quarter of 2022 on the back of higher revenue. Net profit rose to SR420 million ($112 million) from SR385 million a year ago, a bourse statement revealed. Results were attributed to a hike in revenue of 23.6 percent and gross profit of 7.8 percent, even…
Global dairy alternatives industry to generate $55.4 billion by 2031
According to a report by Allied Market Research , the global dairy alternatives industry generated $13.1 billion in 2020 and is anticipated to generate $55.4 billion by 2031 witnessing a CAGR of 13.99% from 2022 to 2031. The market researchers attributed the growth to several factors, including a rise in the number of people allergic to dairy,…