Pioneer Foods Ltd., South Africa’s second-largest food producer by value, said it would spin off its poultry business within 12 months after it wrote down the unit’s value by 232 million rand ($23 million).
The patchwork of tiny rice paddies that have decorated the terraced hillsides and alluvial plains of Japan for centuries is under threat as the government presses aging farmers to consolidate holdings or switch crops.
Illovo Sugar Ltd., Africa’s largest producer of the sweetner, said full-year profit will probably rise by as much as 10 percent as lower cane yields and a “difficult” market counter the benefits of a weaker rand.
South Africa should give better protection to sugar producers in the wake of low global prices caused by excess exports from Brazil, according to Tongaat Hulett Ltd., the country’s second-biggest producer of the crop.
Egypt scrapped import tariffs on raw and white sugar, applied last year as a measure to protect its domestic industry, after finding lower capacity utilization and profitability weren’t caused by increased imports.
Hamburg is emerging as the biggest European beneficiary of Russia’s entry into the World Trade Organization, which is spurring feeder services from Germany’s largest port and cementing its status as a container transfer hub between Asia and the Baltic Sea.