This week, Mondelēz International has called for 100 percent sustainability in palm oil sourcing as the company challenges suppliers to act faster to eliminate deforestation. Tate & Lyle and Land O’Lakes SUSTAIN are collaborating to advance conservation practices on Midwest farms sourcing sustainable corn. Meanwhile, Azelis has extended its distribution partnership with Tate & Lyle and the new mandate will become effective as of 1 January 2019. Barry Callebaut announced that Standard & Poor’s Financial Services LLC (Standard & Poor’s) upgraded the company’s long-term issuer rating to investment grade BBB-, up from BB+.
In brief: Sustainability
Mondelēz has amplified its call for suppliers of palm oil to embrace its goal of 100 percent sustainability and transparency across the industry. The company has challenged its supply chain and the entire sector to be sustainable and transparent in the production of palm oil since 2010, according to the company. Nevertheless, there is more the industry can do in the palm oil supply chain in order to prevent deforestation, it comments. Mondelēz suppliers have achieved “industry-leading” levels of traceability with its Palm Oil Action Plan, but there still remains a gap between the current state and their goal of 100 percent sustainability and 100 percent transparency.
Tate & Lyle and stewardship solutions provider Land O’Lakes SUSTAIN are to collaborate to advance the conservation practices on US Midwest farms – specifically in sourcing sustainable corn. The relationship enables Tate & Lyle, a significant user of US-grown corn, to enhance sustainable agriculture by helping farmers target and measure the impact of their environmental stewardship efforts. The collaboration leverages the Truterra Insights Engine, a new interactive on-farm digital platform from Land O’Lakes SUSTAIN, that helps farmers scale their environmental stewardship efforts and assess return-on-investment in real time, acre-by-acre. In turn, the Truterra Insights Engine supports Tate & Lyle to have greater visibility of its environmental footprint beyond the factory gates, enabling the company to make informed decisions about their supply chain strategies.
In brief: Business
In the same week, Azelis extended its distribution partnership with Tate & Lyle, which will see Azelis distribute Tate & Lyle’s texturants, low and no-calorie sweeteners, fibers and stabilizers to Poland, Czech Republic, Slovakia, Romania, Croatia and Slovenia. The new mandate, effective 1 January 2019, builds upon Tate & Lyle’s existing collaboration with Azelis in the UK, France, Spain, Portugal, Ireland, Serbia, Hungary and Morocco and reinforces Azelis’ position as a distributor of innovative food ingredients and specialty chemicals, says the company.
Andrey Zhukov, Market Segment Director Food & Health at Azelis, comments: “We are thrilled with the continued expansion of our partnership with Tate & Lyle. Our track record, transparency and continued growth instill confidence in our partners to collaborate with us on new territories. With the addition of Tate & Lyle’s extensive product range to our current portfolio and their strength in delivering innovative solutions, we are boosting our offer to customers in these regions.”
In brief: Other highlights
Barry Callebaut reports that Standard & Poor’s Financial Services LLC (Standard & Poor’s), one of the most important providers of credit ratings, has upgraded the company’s long-term issuer rating to investment grade BBB-, up from BB+. The upgrade of Barry Callebaut’s rating to investment grade by Standard & Poor’s comes after the recent update by Moody’s of Barry Callebaut’s long-term issuer rating to investment grade. Standard & Poor’s upgrade reflects the company’s improvements in operating performance regarding profitability and cash flow generation. The rating is reportedly also supported by the company’s ongoing growth momentum in emerging markets and above-industry-average volume growth in mature markets.
US-based agricultural start-up Pairwise has selected Durham, N.C., as its headquarters and will lease space on the Golden Belt Campus location in the heart of life sciences hub. The move represents a commitment to growth in a region ripe with innovation and engagement in the agricultural technology industry, reports the company. “Pairwise is focused on improving produce and row crops to address consumer needs for affordable, healthy, convenient and sustainable food,” says Pairwise CEO Dr. Tom Adams. “Our facilities in Durham, the talent we have recruited, and the close proximity to like-minded life science businesses and organizations will help us make this vision a reality. Establishing our headquarters in Durham will allow us to focus on research and development, as well as growing our business and becoming an active member of the local community.”
Finally, Organic Food Iberia, the highly-anticipated, new international organic trade fair, taking place in Madrid next June, has gained further significant Spanish support, with the announcement that Andalucía – the country’s most significant organic producing region – will host a 100 producer-strong pavilion. The 800sqm pavilion, hosted with the support of leading organic association Ecovalia, will showcase hundreds of organic food and drink products from across this richly-biodiverse province.
