Milling & Baking News - January 10, 2023 - 24

TUES | 01 10 202 3
€41.4 in 2021. In December, Corbion said it
has begun a process to divest its non-core
emulsifiers business. Corbion said divesting
FOREIGN STOCKS, 2022 SHARE PRICE
PERFORMANCE
Marks & Spencer
Premier Foods
Greggs PLC
Tesco
Carr's Group
Associated British Foods
Tate & Lyle PLC
Sainsbury PLC
Finsbury Food Group PLC
Kerry Group
Greencore Group
Origin Enterprises
GrainCorp Ltd.
Nutrien Ltd.
Ajinomoto Co. Inc.
First Baking Co.
Nisshin Seifun
Nissin Foods Holdings
Nippn Corp.
Yamazaki Baking
Indofood
Olam Group
Wilmar International
Danone
Ahold nv
Corbion
DSM
Unilever
Barry Callebaut
Nestle SA
Aryzta AG
Alexandria Flour
East Delta Flour
Middle Egypt Flour
Middle and West Delta Flour Co.
North Cairo Flour
Upper Egypt Flour
Ebro Foods
Flour Mills of Nigeria
Tiger Brands Ltd.
24 MILLING & BAKING NEWS
United Kingdom
United Kingdom
United Kingdom
United Kingdom
United Kingdom
United Kingdom
United Kingdom
United Kingdom
United Kingdom
Ireland
Ireland
Ireland
Australia
Canada
Japan
Japan
Japan
Japan
Japan
Japan
Indonesia
Singapore
Singapore
France
The Netherlands
The Netherlands
The Netherlands
The Netherlands
Switzerland
Switzerland
Switzerland
Egypt
Egypt
Egypt
Egypt
Egypt
Egypt
Spain
Africa
South Africa
the emulsifier business will it to focus on
growing its core business, according to the
company, which did not set a timetable for
any transaction.
In Switzerland, Nestle SA, the
-58%
-3%
-30%
-23%
-22%
-22%
7.5%
-21%
8%
-26%
-51%
30%
-11%
4%
15%
-29%
-1%
24%
-2%
3%
6%
-17%
1%
-10%
-11%
-23%
-42%
6%
-17%
-16%
-4%
19%
34%
31%
50%
57%
30%
-14%
1%
16%
world's largest food company,
closed at 107.14 Swiss francs, down
16% from 127.44 Swiss francs in
2021. Nestle USA is leveraging its
30,000-strong workforce to spark
fresh innovation. Its New Business
Ventures group partners with
teams across the organization to
encourage " what if " projects, lending
expertise on early-stage trends
to test new products and business
models that appeal to the evolving
tastes of consumers. Nestle New
Business Ventures in 2022 piloted
a delivery service model for
freshly baked Toll House cookies,
delivering warm treats directly to
doorsteps in Washington.
Aryzta AG closed 2021 at 1.1
Swiss francs, down 4% from 1.14
Swiss francs at the end of 2021.
After disposing of its North
American assets in 2021, Aryzta's
businesses " have become more
embedded with our customers
around product innovation,
delivery of improved service levels
and cooperations to manage
the fast-moving inflationary environment, "
Urs Jordi, chairman,
noted in the company's annual
report issued in late September.
Zurich, Switzerland-based
chocolate maker Barry Callebaut
finished 2022 at 1829 Swiss francs,
down 17% from 2216 Swiss francs
in 2021. In December, Barry Callebaut
said it is adding liquid and
molding lines, as well as enhanced
dairy-free production capabilities,
as part of its latest expansion in
Chatham, Ont. White compound
production will be added in 2023,
the company said. The company
also introduced what it calls the
" second generation " of chocolate
at an Oct. 27 event in Venice, Italy.
The recipe for the chocolate contains
60% to 80% more cocoa, and
the chocolate contains 50% less
sugar than over 80% of the chocolate
consumed globally, according
to Barry Callebaut.
Share price movement in Japan
was mixed during 2022. Nisshin
Seifun, the Japanese holding company that
includes Nisshin Milling, the largest flour
mill er in Japan, and Miller Milling, a major
US milling company, closed at Y1653, down
less than 1% from Y1658 in 2021. Ajinomoto
Co. Inc., a multinational food and biotechnology
company, closed at Y4031, up 15%
from Y3497 in 2021.
Nippon Corp. (formerly Nippon Flour
Mills Co. Ltd.) declined 2% for the year,
falling to Y1620 from Y1656, but Nissin
Foods Holdings, a leading manufacturer
of instant noodles, increased 24% to
Y10420 from Y8390.
Baking leaders Yamazaki Baking and
First Baking Co. Ltd. posted mixed moves
in 2022. Yamazaki closed at Y1574, up 3%
from Y1528 in 2021. First Baking, meanwhile,
fell 29% to Y390 from Y553 in 2021.
Olam International, which supplies
food and industrial raw materials, delisted
in early March, returning to trading
in mid-March as Olam Group. Olam finished
2022 at 1.46 Singapore dollars, down
17% from 1.75 Singapore dollars at the end
of 2021 when the company was listed as
Olam International.
Wilmar International increased narrowly
to 4.17 Singapore dollars from 4.14
Singapore dollars in 2021.
Indonesia's Indofood, one of the largest
food producers in Asia, increased 6% to
R6725 from R6325 in 2021.
South Africa-based Tiger Brands Ltd.
increased in 2022, finishing at R21002, up
16% from R18100 in 2021.
Egyptian companies engaged in flour
milling posted gains in 2022, led by a 57%
increase at North Cairo Flour Mills. Other
increases included Middle and West Delta
Flour Co., up 50%; East Delta Flour Co., up
34%; Middle Egypt Flour, up 31%; Upper
Egypt Flour, up 30%; and Alexandria
Flour, up 19%. Two companies that had
been tracked in the past - South Cairo
and Giza Flour Mills and Egyptian Starch,
were largely unquoted in 2022 and comparisons
could not be drawn.
In Africa, Flour Mills of Nigeria PLC
increased 1% in 2022 after climbing 9% in
2021 and 32% in 2020. Flour Mills of Nigeria
primarily is involved in flour milling,
pasta production and cements production.
In Spain, Ebro Foods shares fell 14% to
€14.66 from €16.88 in 2021. Riviana Foods,
a business unit of Ebro Foods, in September
invested $80.6 million to expand and
renovate its processing and packaging
plant in Memphis, Tenn. MBN
- Eric Schroeder
bakingbusiness.com
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http://www.bakingbusiness.com
Milling & Baking News - January 10, 2023

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