Business Archives - Page 3 of 51 - Manitoba Co-operator

Viterra and G3 are dominant in wheat, while Bunge is dominant in canola, soy and corn. Combining them gives one company massive market power over the largest crops grown in and exported by Canada.

Comment: Bunge-Viterra merger has drastic implications for Canadian farmers

It’s time for farmers to once again have an owning stake in the grain system

By Cathy Holtslander July 25, 2023

Just five companies, known as the ABCD group, control up to 90 per cent of the world grain trade — and the B in this group is about to get much bigger. B is for Bunge, which has announced it is in the process of buying Viterra. The other ABCD companies are Archer Daniels Midland,

'The success of Canada’s economy doesn’t truly rely on a few favoured firms that are able to capture regulators and curry favour with politicians.' – Gord Gilmour.

Editorial, Op/Ed

Editorial: Checks and balances needed

By Gord Gilmour June 29, 2023

There’s a deepening need in Canada to increase oversight into competition in our economy, as evidenced by the latest food-related scandal. Canada Bread, an arm of the Mexican multinational Groupo Bimbo, just agreed to pay a $50-million settlement for its part in a bread price-fixing scheme. It was a conspiracy that ran for 14 to

News

Tyson Foods announces layoffs

By Tom Polansek June 23, 2023

Reuters – Tyson Foods, which is seeking to cut costs, will lay off 228 corporate employees in Illinois who declined to relocate to the meatpacker’s Arkansas headquarters, the company confirmed June 13. The company said it will eliminate 177 positions from an office in downtown Chicago and 51 positions in Downers Grove, a suburb of

News

Manitoba’s first potash mine begins production

Business plan focuses on local economic development

By Don Norman June 22, 2023

After decades of exploration and several attempts, Manitoba’s first potash mine is up and running. The Potash and Agri Development Corporation of Manitoba (PADCOM) mine is near Harrowby, 16 kilometres west of Russell. It is expected to produce between 100,000 and 250,000 tonnes of potash per year. “After years of researching the potential of this

The interior of Burcon’s Winnipeg Technical Centre.

News

Burcon adds processor scale-up services

Company says the move leverages its expertise and equipment to attract new business

By Don Norman June 19, 2023

Manitoba agri-food processors will soon be able to access Burcon’s protein processing equipment to help get their food products to market. Burcon NutraScience Corporation, which focuses on plant proteins and ingredients for the food and beverage sector, says it will offer start-to-finish product development services for processors. “We saw that gap in the industry and

Tyson’s costs to buy live cattle increased $305 million from last year.

News

Tyson Foods shares plunge

Deflated demand, inflated costs lead to surprise loss

By Granth Vanaik, Tom Polansek May 18, 2023

Tyson Foods Inc. shares plunged 16 per cent to a three-year low May 8 as the U.S. meatpacker posted a surprise second-quarter loss and cut its full-year revenue forecast amid slowing consumer demand. The weaker than expected results indicate cash-strapped shoppers are cutting back on meat spending in a high-inflation environment, while a shrinking cattle herd forces Tyson to pay more for

News

Corteva raises sales outlook after topping quarterly profit estimates

By Sourasis Bose May 15, 2023

Reuters – Agricultural chemical and seed company Corteva raised its full-year forecast May 3 after it beat quarterly profit estimates. The company’s performance was aided by higher prices and strong demand for seeds, sending its shares up two per cent in extended trade. Crop prices have scaled back after rising to record highs last year

News

Britain’s Tesco cuts milk price

By James Davey April 24, 2023

Reuters – Britain’s biggest supermarket group, Tesco, has cut the price of milk for the first time since May 2020, a possible early sign that a surge in food inflation may abate in coming months. In March, grocery inflation in the U.K. rose to 17.5 per cent, according to market researcher Kantar. The price rise

News

Merit’s fall may create small setback in Manitoba pea market

The sale of the cash-strapped processor won’t be finalized until the end of May, at least

By Dave Bedard, Geralyn Wichers April 24, 2023

Manitoba farmers may see reduced opportunity to sell peas this year, as the fate of protein ingredient processor Merit Functional Foods remains undetermined until at least the end of the month. “Then the question is, do I continue to grow peas or do I switch to another crop. That’s a decision that the growers have probably made by now,”

Markets, News

Brazil meatpacker Marfrig posts loss on shrinking North American demand

By Reuters March 13, 2023

Brazilian meatpacker Marfrig Global Foods has posted a fourth-quarter net loss of US$121 million, falling below estimates of a net profit for the quarter in part because of lower earnings in North America. Analysts polled by Reuters had estimated a net profit of $88 million for the last three months of 2022, down from a

Daily Network News

Women who fed a nation

U.S. grains: Soybeans rise on China demand hopes; corn and wheat rebound

U.S. livestock: Hogs rebound, cattle hit upward limits

Tag Archives Business

Comment: Bunge-Viterra merger has drastic implications for Canadian farmers

Editorial: Checks and balances needed

Tyson Foods announces layoffs

Manitoba’s first potash mine begins production

Burcon adds processor scale-up services

Tyson Foods shares plunge

Corteva raises sales outlook after topping quarterly profit estimates

Britain’s Tesco cuts milk price

Merit’s fall may create small setback in Manitoba pea market

Brazil meatpacker Marfrig posts loss on shrinking North American demand

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