Latest news with #foodsector
Argaam
2 days ago
- Business
- Argaam
First Mills expects gradual demand uptick in Q3: CEO
First Milling Co. (First Mills) expects demand to improve gradually in Q3 2025 as markets resume normal activity after the summer, supported by growth in the food sector and continued strong demand for flour products, CEO Abdullah Ababtain told Argaam in an interview. He said that the company will maintain its focus on cost control, sustainable growth, and profitability. Ababtain noted that ongoing government support provides a stable environment for precise financial and operational planning, enhances the competitiveness of First Mills' products in the local market, and enables continued investment in efficiency and future projects. Despite seasonal revenue pressure due to the absence of Ramadan sales, the company achieved higher net profit, supported by strong cost management and improved operating margins, the CEO noted. Flour sales rose 5.7%, driven by strong demand for small-size packages across wholesale and retail channels, Ababtain said, adding that the company also expanded distribution of value-added small packs with higher margins. Bran and feed segments witnessed seasonal demand declines during spring, Ramadan, and rain periods, an annual trend. However, the impact was limited by solid demand for other product lines. Ababtain added that this temporary drop is unlikely to persist, as demand gradually recovers and prices improve, especially in the bran segment, which showed positive signs by quarter-end. He noted that the flour and baked goods market remains highly competitive. Still, First Mills preserved performance through product diversification and greater operational efficiency, which supported strong profit margins. The company has a clear strategy to expand its product range and develop value-added offerings to strengthen its market position.
Globe and Mail
17-07-2025
- Business
- Globe and Mail
Japan's Mitsubishi expands in salmon farming with acquisitions in Norway, Canada
Japanese trading house Mitsubishi MSBHF said on Thursday it would expand its salmon farming by acquiring additional businesses in Norway and Canada, as Japanese companies continue to grow in the food sector, with a focus on protein. Faced with volatile fossil fuel markets and in search of stable revenue streams, Mitsubishi and its rivals have been diversifying into the food business, where demand is set to grow alongside a rising world population. 'In recent years, securing food resources has become a critical global challenge driven by population growth,' Mitsubishi said in a statement. The acquisition of three companies from Norwegian Grieg Seafood ASA GRGSF was made via Cermaq Group, Mitsubishi's salmon farming company with assets in Norway, Canada and Chile. It will boost salmon production to around 280,000 tons in the 2027 fiscal year, up from some 200,000 tons produced by Cermaq annually now. The acquisition price is NOK10.2-billion ($1.3-billion), Cermaq said in a separate statement. Salmon is among the most popular sushi items in Japan, but the bulk of it is imported from other countries, including Norway and Chile. Japan aims to raise the share of locally sourced seafood it consumes to 94 per cent in 2033 from 54 per cent now. In October, Marubeni MARUY began selling salmon from a farm operated near Mount Fuji by its Norwegian partner, adding to the seafood business where its rivals Mitsubishi and Mitsui MITSY are also present.
CNA
17-07-2025
- Business
- CNA
Japan's Mitsubishi expands in salmon farming with acquisitions in Norway, Canada
TOKYO :Japanese trading house Mitsubishi said on Thursday it would expand its salmon farming by acquiring additional businesses in Norway and Canada, as Japanese companies continue to grow in the food sector, with a focus on protein. Faced with volatile fossil fuel markets and in search of stable revenue streams, Mitsubishi and its rivals have been diversifying into the food business, where demand is set to grow alongside a rising world population. "In recent years, securing food resources has become a critical global challenge driven by population growth," Mitsubishi said in a statement. The acquisition of three companies from Norwegian Grieg Seafood ASA was made via Cermaq Group, Mitsubishi's salmon farming company with assets in Norway, Canada and Chile. It will boost salmon production to around 280,000 tons in the 2027 fiscal year, up from some 200,000 tons produced by Cermaq annually now. The acquisition price is 10.2 billion Norwegian crowns ($988.33 million), Cermaq said in a separate statement. Salmon is among the most popular sushi items in Japan, but the bulk of it is imported from other countries, including Norway and Chile. Japan aims to raise the share of locally sourced seafood it consumes to 94 per cent in 2033 from 54 per cent now. In October, Marubeni began selling salmon from a farm operated near Mount Fuji by its Norwegian partner, adding to the seafood business where its rivals Mitsubishi and Mitsui are also present. ($1 = 10.3204 Norwegian crowns)
Yahoo
17-07-2025
- Business
- Yahoo
Japan's Mitsubishi expands in salmon farming with acquisitions Norway and Canada
TOKYO (Reuters) -Japanese trading house Mitsubishi said on Thursday it would expand its salmon farming by acquiring additional businesses in Norway and Canada, as Japanese companies continue to grow in the food sector, with a focus on protein. Faced with volatile fossil fuel markets and in search of stable revenue streams, Mitsubishi and its rivals have been diversifying into the food business, where demand is set to grow alongside a rising world population. "In recent years, securing food resources has become a critical global challenge driven by population growth," Mitsubishi said in a statement, without disclosing the price of the deal. The acquisition of three companies from Norwegian Grieg Seafood ASA was made via Cermaq Group, Mitsubishi's salmon farming company with assets in Norway, Canada and Chile. It will boost salmon production to around 280,000 tons in the 2027 fiscal year, up from some 200,000 tons produced by Cermaq annually now. Salmon is among the most popular sushi items in Japan, but the bulk of it is imported from other countries, including Norway and Chile. Japan aims to raise the share of locally sourced seafood it consumes to 94% in 2033 from 54% now. In October, Marubeni began selling salmon from a farm operated near Mount Fuji by its Norwegian partner, adding to the seafood business where its rivals Mitsubishi and Mitsui are also present.
Yahoo
17-07-2025
- Business
- Yahoo
Japan's Mitsubishi expands in salmon farming with acquisitions in Norway, Canada
TOKYO (Reuters) -Japanese trading house Mitsubishi said on Thursday it would expand its salmon farming by acquiring additional businesses in Norway and Canada, as Japanese companies continue to grow in the food sector, with a focus on protein. Faced with volatile fossil fuel markets and in search of stable revenue streams, Mitsubishi and its rivals have been diversifying into the food business, where demand is set to grow alongside a rising world population. "In recent years, securing food resources has become a critical global challenge driven by population growth," Mitsubishi said in a statement. The acquisition of three companies from Norwegian Grieg Seafood ASA was made via Cermaq Group, Mitsubishi's salmon farming company with assets in Norway, Canada and Chile. It will boost salmon production to around 280,000 tons in the 2027 fiscal year, up from some 200,000 tons produced by Cermaq annually now. The acquisition price is 10.2 billion Norwegian crowns ($988.33 million), Cermaq said in a separate statement. Salmon is among the most popular sushi items in Japan, but the bulk of it is imported from other countries, including Norway and Chile. Japan aims to raise the share of locally sourced seafood it consumes to 94% in 2033 from 54% now. In October, Marubeni began selling salmon from a farm operated near Mount Fuji by its Norwegian partner, adding to the seafood business where its rivals Mitsubishi and Mitsui are also present. ($1 = 10.3204 Norwegian crowns) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
