World Grain - April 2023 - 12

NEWS REVIEW
Gavilon rebrands to Viterra
OMAHA, NEBRASKA, US - Gavilon has been officially
rebranded as Viterra across its business in the United States
and Mexico, following Viterra Ltd.'s purchase of the grains
origination and storage and food ingredients business of
Gavilon Agriculture Investment Inc. in 2022.
The acquired assets are in major growing areas across the
United States, with access to major railroads, rivers and ports.
Omaha, Nebraska, will continue to be the headquarters for
Viterra's US and Mexico business.
The Viterra name and logo rolled out across the United
States and Mexico on Feb. 27, and this process will continue
until all aspects of the Gavilon brand have been updated. This
change will not impact any open contracts, banking information,
or tax identification numbers, the company said.
Bioceres HB4 Wheat gains approval in Brazil
ROSARIO, ARGENTINA - Argentina-based Bioceres Crop
Solutions Corp. announced on March 3 that CTNBio, the
National Biosafety Commission of Brazil's Ministry of Science,
Technology, and Innovation, has concluded the safety evaluation
of Bioceres' HB4 Wheat, providing full approval for commercialization
and cultivation in Brazil.
Brazil is the second country where regulatory agencies have
cleared HB4 Wheat for cultivation, after Argentina, and completes
the approval processes for the company's wheat target
markets in Latin America. Brazil plants 2 million to 3 million
" Today's launch of the Viterra brand across our operations
in the US and Mexico sets the stage for the continued growth
and investment across our network, " said Rayner Freyberg,
chief executive officer of Viterra US and Mexico. " We will
continue to look for ways to strengthen our business and create
additional opportunities for our employees, producers and
customers. "
Viterra's intent to acquire the assets of Gavilon, a wholly
owned US-based subsidiary of Marubeni America Corp., was
first announced in January 2022. The transaction closed on
Oct. 3 for $1.125 billion, plus working capital and subject to
other price adjustments.
Viterra, based in Rotterdam, Netherlands, is the crop trading
business spun out of Glencore in November 2020.
hectares of wheat annually and, together, both countries account
for 90% of South America's wheat acreage. The approval of the
GM wheat variety builds on Brazil's previous approval for food
and feed use of HB4 Wheat flour in November 2021. In addition
to opening the Brazilian market to the technology, the decision
clears the path for commercialization in Argentina through channels
other than Bioceres' identity-preserved HB4 program.
HB4 Wheat also is approved for food and feed use in the
United States, Colombia, New Zealand, Australia, South Africa
and Nigeria, and for feed use in Indonesia.
Viterra posts successful year fresh off Gavilon acquisition
ROTTERDAM, NETHERLANDS -Viterra executives said
the company experienced its most successful year on record
in 2022 in part because of market conditions, record production
in main export regions and completion of its acquisition
of Gavilon.
The company posted record EBITDA of $2.65 billion for
the year ended Dec. 31, 2022, a 21% increase from the previous
year. Revenue increased 35% to $54 billion predominantly
due to significant rallies in core commodity prices, particularly
for soybeans, wheat, feed grains and vegetable oils,
as well as the incorporation of Gavilon in October.
With the acquisition of Gavilon, a leading grain handler
with headquarters in Omaha, Nebraska, US, Viterra added
New sorghum could boost yields in Zimbabwe
PATANCHERUVU, INDIA - A collaborative effort between
the International Crops Research Institute for the Semi-Arid
Tropics (ICRISAT) and the Pan African Seed Co., the Seed Co
Group, has led to the development of a new hybrid of white
sorghum (great millet) that has a yield potential of up to 8
tonnes per hectare. If realized, the boost in yield could give
farmers in Zimbabwe a 25% yield increase over existing varieties,
according to ICRISAT.
12
Research on the new hybrid was conducted through
the Sorghum and Pearl Millet Hybrid Parents Research
Consortium (SPMHPRC).
Dr. Hapson Mushoriwa, ICRISAT's principal scientist for
eastern and southern Africa, said the new hybrid matures between
85 and 118 days. He also noted that it has good resistance
to common leaf diseases and its strong straw structure
helps maintain plant stability.
April 2023 / World Grain / www.World-Grain.com
110 up-country sites in all primary growing areas across the
United States. It was Viterra's second largest acquisition in its
history at $1.1 billion plus $1.8 billion working capital.
In addition, Viterra completed the construction of a vegetable
oil refinery in Fokto, Hungary, that complements its existing
crush facility at the same site. It can produce feedstocks
for renewable fuels as well as edible oil for human consumption
from a variety of oilseeds, including sunflower seeds,
rapeseeds and soybeans.
The outlook for 2023 is positive, while market conditions
are expected to normalize. Underlying demand for core commodities
remains strong, and a record crop is expected in
Australia and a top-three record crop in Canada.
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World Grain - April 2023

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