ALL AGRI #Export

Wilmar generated $67.4 billion in revenue last year, a 0.3% increase year-on-year. The agrifood giant earned $1.2 billion in annual profit, meaning its $729 million “security deposit” is equal to about 60% of Wilmar’s entire 2024 net Sncome. Indonesian prosecutors accuse Wilmar of bribing officials to obtain the permits in 2022, during a national cooking oil shortage.

July ICE NY cocoa (CCN25) Monday closed up +730 (+8.63%), and July ICE London cocoa #7 (CAN25) closed up +214 (+3.69%).Cocoa prices on Monday recovered from early losses and settled sharply higher as signs of a slowing pace of Ivory Coast cocoa exports sparked short covering in cocoa futures

The findings, published in Nature Geoscience, reveal that the Afar region in Ethiopia is underlain by a plume of hot mantle that pulses upward like a beating heart.The team's discovery reveals how the upward flow of hot material from the deep mantle is strongly influenced by the tectonic plates—the massive solid slabs of Earth's crust—that ride above it.

It is important to note that cheap imported sugar does not translate to cheaper sugar for retail consumers. Imported sugar ends up on retail shelves at a similar price to locally grown sugar, with inflated profits going to importers of offshore sugar.South Africa has seen a steady rise in sugar imports over the past year, despite the local sugar industry being able to fully supply the region’s domestic and commercial needs whilst leaving extra to export.

Released on Friday, the report highlights significant increases in expected yields for key crops such as maize, soybeans, and dry beans, despite the challenges posed by late rains across many regions. The CEC's projected commercial maize crop stands at a robust 14.644 million tons, which is an impressive 13.96% or 1.794 million tons larger than the previous year's yield.

Over the period under review, consumption showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 2.5%. Over the period under review, consumption reached the peak volume at 115M tons in 2019; however, from 2020 to 2024, consumption remained at a lower figure. The value of the sugar crop market in Africa expanded remarkably to $163.3B in 2024, picking up by 5.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the market value increased by 6.1% against the previous year. Over the period under review, the market hit record highs at $169.7B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

IndexBox has just published a new report: Africa - Roasted Coffee (Not Decaffeinated) - Market Analysis, Forecast, Size, Trends And Insights. The demand for roasted coffee in Africa is on the rise, leading to a forecasted growth in market volume to 1.9M tons and market value to $13.8B by the end of 2035. Despite a deceleration in market performance, the industry is expected to expand with a CAGR of +1.4% for volume and +2.6% for value from 2024 to 2035.

With geopolitical developments shaping the world, Africa is expectedly changing with the times. It has gone far, particularly with Russia, opened new directions in bilateral economic cooperation after their joint historic summits. It is also time to make a critical appraisals of Russia’s policy towards Africa. By next year 2026, Russia’s strategic plan to ensure and support food security may fade away its its policy mainstream. First and second summits witnessed agreements and declarations signed to tectonic applause with an unwavering decision characterized by increasing food and agricultural products including grains and chicken meat across Africa.

The value of the cashew nut market in Africa surged to $890M in 2024, growing by 19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $1.5B in 2018; however, from 2019 to 2024, consumption stood at a somewhat lower figure.

FARMERS have sold 2 million kilogrammes (kg) of sesame seeds, with the Zambezi Valley catchment leading both the production and sales volume of the crop since the marketing season commenced mid-last month. This surge in sales coincides with calls from contractors advocating for an increase in production of the crop to meet the growing demand from international markets, with countries like Turkey, India and China topping the list. Sesame is increasingly recognised as a key export commodity with the potential to generate substantial foreign currency for Zimbabwe.

Africa is steadily rising in prominence and becoming more central within the global oil market. This is according to the regional lender Afreximbank, which, in its July Oil Market Update and Outlook, highlights significant changes and progress underway in the continent’s oil sector.

Demand for coffee is growing globally - but despite much of it being grown on the continent, very little is roasted locally to be sold and drunk there. West African Entrepreneur Hadi Beydoun wants to change that. In this week’s special episode of the Next Africa Podcast, Jennifer Zabasajja heads to Abijan in the Ivory Coast to meet Hadi, the founder of Cafe Continent, to find out how he’s planning to bring homegrown, home-roasted coffee to the African market. Then Bloomberg’s Soft Commodities reporter Mumbi Gitau gives her analysis of the state of the global coffee market and Africa’s place in it.