World Grain -- December 2015 - (Page 12)

NEWSREVIEW News review Brought to you by Tiger pulls financial support from Dangote Flour Mills JOHANNESBURG, SOUTH AFRICA - In mid-November, Tiger Brands Ltd. informed the board of Tiger Branded Consumer Goods Plc (TBCG) - formerly Dangote Flour Mills Plc ²WKDWLWZLOOQRWSURYLGHDQ\IXUWKHU¿QDQFLDO support with respect to its investment in TBCG. Additionally, Alhaji Aliko Dangote, owner of Dangote Industries who also holds a 10% stake in Dangote Flour Mills, as well as Dangote Olakunle Alake, Asue Ighodalo and Arnold Ekpe, have resigned their appointments as directors of TBCG. Tiger Brands has said it is "currently exploring various alternatives with regard to its investment in TBCG." In 2012, Tiger Brands bought a majority stake of 63.4% in DanJRWH)ORXU0LOOVD1LJHULDQÀRXUSDVWDDQGULFHFRPSDQ\IRU million. This purchase has cost investors millions in write-downs. This latest turn of events follows the Oct. 8 announcement that 3HWHU0DWODUHWKH7LJHU%UDQGV/WGFKLHIH[HFXWLYHRI¿FHU &(2  is stepping down on Dec. 31. Also in 2014, executives at Haco Industries, a Kenyan subsidiary RI'DQJRWH)ORXU0LOOVWKDW7LJHUKDVDVWDNHLQRYHUVWDWHGLWV sales to reach operational targets. This preinvoicing and manipulation RISUR¿WVFRQWULEXWHGWRDGURSLQRSHUDWLQJSUR¿WLQWKHLQWHUQDWLRQDODQGH[SRUWXQLWGXULQJWKH¿UVWKDOIRIWKH\HDUHQGHG0DUFK 7LJHUWRRNDFWLRQDQG¿UHGWKHPDQDJLQJGLUHFWRURILWV.HQ\DQXQLW For more on Tiger Brands, see article on page 18. European Parliament rejects national GMO bans STRASBURG, FRANCE - The European Parliament on Oct. 28 rejected a draft E.U. law that would enable any E.U. member state to restrict or prohibit the sale and use of E.U.-approved genetically PRGL¿HGRUJDQLVP *02 IRRGRUIHHGRQLWVWHUULWRU\ The members called on the European Commission to table a new proposal and expressed concern that the law might prove unworkable or that it could lead to the reintroduction of border checks between pro- and anti-GMO countries. "Today's vote gave a clear signal to the European Commission. This proposal could turn on its head what has been achieved with the single market and the customs union," said rapporteur Giovanni La Via (EPP, IT), whose recommendation to reject the proposal was approved by YRWHVWRZLWKDEVWHQWLRQV³2YHUWKHODVWIHZPRQWKVVHULous concerns have been expressed about the lack of any impact assessment, the proposal's compatibility with the single market, and also whether it is actually feasible. There was no evaluation of the potential consequences or of other available options. I believe that this proposal could have negative consequences for agriculture in the E.U., which is heavily dependent on protein supplies from GMO sources. It could also have indirect negative effects on imports. Finally, there are concerns over whether this proposal could even be implemented, because there are no border controls in the E.U." COCERAL, FEDIOL and FEFAC, representing commodity collection and trade, oilseed crushing and compound feed and premix manufacturing, said on Oct. 28 they are relieved by the decision of the Plenary of the European Parliament to reject the commission's proposal. COCERAL, FEDIOL and FEFAC now urge the E.U. Farm Council to follow suit and equally reject the commission's proposal in order to maintain the needed legal certainty for business operators in the E.U. feed and livestock sectors, which are already facing a very challenging market situation. 12 Photo courtesy of European Union. The rejection is in line with the opinion of the relevant parliamentary committees and echoes the concerns voiced by affected food and feed supply chain industry sectors, the groups said. COCERAL, FEDIOL and FEFAC recently issued an economic impact assessment RQWKHFRPPLVVLRQ¶VSURSRVDO¿QGLQJWKDWVXEVWLWXWLQJ*0VR\ZLWK non-GM soy would lead to an increase in feed costs of around 10% for the livestock sector (i.e. €1.2 billion if four E.U. countries optedout or € 2.8 billion in the event that all E.U. countries did so), making livestock production in "opting-out" countries uncompetitive vis-à-vis not only non "opting-out" countries but also third countries, whether on the home or global market. The proposal, which would amend existing E.U. legislation to enable member states to restrict or prohibit the use of E.U.-approved JHQHWLFDOO\PRGL¿HGIRRGDQGIHHGRQWKHLUWHUULWRU\ZDVWDEOHGE\ the E.U. Commission April 22. The Commission suggested that this proposal should be modeled on another E.U. law, on GMO's intended for cultivation, which enWHUHGLQWRIRUFHLQHDUO\$SULO This allows member states to ban the cultivation of E.U.-approved GMOs on their territory. December 2015 / World Grain /

Table of Contents for the Digital Edition of World Grain -- December 2015

World Grain -- December 2015
Table of Contents
From the Editor-in-chief - Milling differs from Warren Buffett
Calendar of Events
Second Oilseed Congress scheduled for Feb. 9-10
News Review - Tiger pulls financial support from Dangote Flour Mills
European Parliament rejects national GMO bans
Olam 3Q operational earnings up
Wilmar’s oilseed, grain segment earnings surge
Ardent Mills stake to stay with ConAgra Brands
Noble Agri reports loss in quarter
The Andersons reports loss on Grain Group decline
IGP Institute names interim associate director
Cargill’s new South Korean feed mill is its largest in the world
ADM opens two plants in China
GSFMO privatizes its flour mills
GrainCorp 2015 earnings down
Tiger Brands year-end earnings offset by international operations
Cargill makes executive leadership changes
Glencore agricultural production up
Grain Market Review - Oilseeds
Country Focus - Spain
Feature - Going from margin to mainstream
Feature - Record Turnout in Dubai
Feature - IAOM takes show to Indonesia
Feature - Indonesia's milling giant may expand
Indonesia in numbers
Feature - An end to the bear market?
Feature - Big turnout expected for IPPE 2016
Feature - Shaping the global feed industry
Feed Operations - Bucket elevator selection and installation tips
Supplier News
Product Showcase
World Grain Archive
Ad Index/Reader Information Form International Faxback Program

World Grain -- December 2015