Farmers form alliances to boost profits

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Farmers in the Central Highlands province of Gia Lai are joining alliances to enhance the value of their agricultural products as part of a project that uses funds from a governmental loan from the World Bank. Le Van Linh, deputy director of the province’s Department of Agriculture and Rural Development, said the province is taking…


Rising raw material costs behind Oman Flour Mills drop in profits

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Oman Flour Mills‘ annual profits dropped 35 per cent on the back of lower margins and higher raw material prices, according to a statement released to the Muscat Securities Market (MSM). Annual profits fell from RO8.06mn in 2010 to RO5.22mn for 2011 as operating profits slipped 40 per cent from RO8.88mn to RO5.32mn and earnings…


Sugar boss mars last results with profits warning

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Maryborough Sugar Factory’s outgoing chief executive, Mike Barry, marred his last results release with a profits warning, cautioning that Cyclone Yasi had not been the end of the group’s weather setbacks. Mr Barry, who is to quit the group at the end of November after three years in charge, said a "very challenging" season had…


Chinese apples lowering profits of Indian growers

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NEW DELHI: With Chinese apples affecting the profitability of domestic growers, governments of major cultivating states joined by farmers and traders have demanded raising import duty of the fruit to over 80 per cent to prevent its dumping in India. A delegation of Horticulture Ministers of Himachal Pradesh, Jammu & Kashmir and Uttrakhand recently met…


Noble flags dent from defaulting US cotton farmers

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Noble Group highlighted hits from US cotton farmers defaulting on deliveries, and of poor Brazilian weather on its sugar operations, even as it unveiled a jump in agriculture profits. The coal-to-oilseeds commodities giant, whose rise has made a billionaire of founder Richard Elman, said while high cotton prices had boosted the group’s revenues from the…


Tyson rows back on pledge of poultry profits

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Tyson Foods ditched a forecast that its chicken division would remain in profit throughout the protein giant’s fiscal year, after an oversupply of US broiler meat hit harder than had been expected. The group revealed smaller profits for all three main divisions – beef, chicken and pork – for the three months to July 2,…


Rising tax, corn bills cut Archer Daniels profits

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A hike in tax payments and a slump in profits from making high fructose corn syrup dragged earnings at Archer Daniels Midland down by $65m to well below Wall Street expectations. The ethanol-to-elevators giant reported earnings down 14.6% at $381m for the April-to-June period, the fourth quarter of its fiscal year, equivalent to $0.58 a…


Record-low cattle herd could herald profits surge

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Data due on Friday expected to show the US cattle herd shrinking to its lowest on record could represent a marker on the road to a far more profitable ranching sector. The US Department of Agriculture is due later, in a twice-yearly report, to show the domestic cattle herd falling by 1.4% from July 1,…


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