World Grain - October 2020 - 10

NEWSREVIEW

Louis Dreyfus earnings up in first half
ROTTERDAM, NETHERLANDS - Louis Dreyfus Co.
(LDC) posted strong results as it navigated global challenges
such as the coronavirus (COVID-19) pandemic, trade tensions
and market uncertainty.
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while continuing to deliver essential products and ingredients
to customers and consumers around the world, in the context
of operational challenges posed by COVID-19 and despite
continued trade tensions," said Ian McIntosh, chief executive
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footprint and risk management expertise remained crucial to
our performance and agility in this environment."
LDC's net income during the six-month period ended June
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ELOOLRQGRZQVOLJKWO\IURPELOOLRQ/'&DWWULEXWed the decrease in sales to lower-than-average prices of main
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"As the world copes with, and adjusts to, restrictions and
uncertainty resulting from the advent of COVID-19, our key
role in providing sustenance for a growing population has
proved all the more important," McIntosh said. "We have risen to the challenge of ensuring continued food security while
protecting people's health and safety as a priority, thanks to
the commitment of LDC teams around the world, to whom I
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dedication will see LDC continue to thrive, adapt to short- and
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7KH9DOXH&KDLQ6HJPHQWSRVWHGRSHUDWLQJUHVXOWVRI
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The Grains & Oilseeds platform remained resilient due to its
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Brazilian real, strong farmer selling and increased demand for
Brazilian soybeans, particularly from China's hog sector.
The Freight Platform was challenged by voluntary economic shutdowns by governments due to COVID-19, rains
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in the fuel market. Performance of the segment improved performance as shipping rate tensions eased, economies opened
back up and import demand recovered.
The company's merchandising segment recorded operating
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Despite lower volumes shipped, the Rice platform expanded its market share in East Africa and Asia.
"The results reported today put LDC in a strong position
from which to advance its ambitious growth plans," said
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SXUVXHGRXUWUDQVIRUPDWLYHVWUDWHJ\LQWKH¿UVWKDOIRIWKH\HDU
through continued investments to strengthen our core trading
activities, to advance the use of new technologies for greater
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innovation toward a sustainable future of food."

Egypt to form commodities exchange
CAIRO, EGYPT - Egypt has announced plans to launch a
commodities exchange that will begin trading wheat, rice, oils
DQGVXJDULQWKH¿UVWKDOIRIReuters reported.
The exchange was formed to protect small Egyptian farmers and producers and provide the opportunity to make their
stocks available to a larger market.
The exchange will have 91 million Egyptian pounds
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internal trade development authority, Ibrahim Ashmawy,
Reuters reported.
Ashmawy told Reuters that farmers, producers and traders
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storage facilities for evaluation and then directly traded on the
electronic platform.
Many were surprised that Egypt did not select one of
its more competitive crops to trade on the exchange as it
is the world's largest importer of wheat and must also import oils and sugars to support its food subsidy program,
Reuters reported.
Commodity prices will be determined by the supply and demand of product, Ashmawy noted.
Some remained concerned about how the exchange will
operate as the government usually prices the commodities it
purchases from domestic producers, Reuters reported.

Company to handle Sohar Flour Mills wheat imports
MUSCAT, OMAN - C. Steinweg Oman LLC, the operator of the general cargo terminal at Sohar Port in Oman,
extended its agreement to handle wheat import shipments
for Sohar Flour Mills LLC. Sohar Flour Mills is expected
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will discharge the wheat import shipments and transport

the cargo into the warehouse of Sohar Flour Mills.
In order to support Oman and its citizens during the coronavirus (COVID-19) pandemic, C. Steinweg Oman has reduced
its handling charges to Sohar Flour Mills to boost the import
of additional wheat and enhance Oman food security and sustainability. Both parties said they look forward to continuing
their collaboration and business relationship.

10

October 2020 / World Grain / www.World-Grain.com


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World Grain - October 2020

Table of Contents for the Digital Edition of World Grain - October 2020

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World Grain - October 2020 - 1
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http://digital.world-grain.com/sosland/wg/2020_10_01
http://digital.world-grain.com/sosland/wg/2020_09_01
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http://digital.world-grain.com/sosland/wg/2020_07_01
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http://digital.world-grain.com/sosland/wg/2020_04_01
http://digital.world-grain.com/sosland/wg/2020_03_01
http://digital.world-grain.com/sosland/wg/2020_02_01
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http://digital.world-grain.com/sosland/wg/2019_12_01
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http://digital.world-grain.com/sosland/wg/2019_08_01
http://digital.world-grain.com/sosland/wg/2019_07_01
http://digital.world-grain.com/sosland/wg/2019_06_01
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http://digital.world-grain.com/sosland/wg/2019_04_01
http://digital.world-grain.com/sosland/wg/2019_03_01
http://digital.world-grain.com/sosland/wg/2019_02_01
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http://digital.world-grain.com/sosland/wg/2018_12_01
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https://www.nxtbook.com/sosland/wg/2015_12_01
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http://digital.world-grain.com/sosland/wg/2015_08_01
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http://digital.world-grain.com/sosland/wg/2015_06_01
http://digital.world-grain.com/sosland/wg/2015_05_01
https://www.nxtbook.com/sosland/wg/2015_04_01
https://www.nxtbook.com/sosland/wg/2015_03_01
https://www.nxtbook.com/sosland/wg/2015_02_01
http://digital.world-grain.com/sosland/wg/2015_01_01
https://www.nxtbook.com/sosland/wg/2014_12_01
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http://digital.world-grain.com/sosland/wg/2010_08_01
http://digital.world-grain.com/sosland/wg/2010_07_01
http://digital.world-grain.com/sosland/wg/2010_06_01
http://digital.world-grain.com/sosland/wg/2010_05_01
http://digital.world-grain.com/sosland/wg/2010_04_01
http://digital.world-grain.com/sosland/wg/2010_03_01
http://digital.world-grain.com/sosland/wg/2010_02_01
http://digital.world-grain.com/sosland/wg/2010_01_01
http://digital.world-grain.com/sosland/wg/2009_12_01
http://digital.world-grain.com/sosland/wg/2009_11_01
http://digital.world-grain.com/sosland/wg/2009_10_01
http://digital.world-grain.com/sosland/wg/2009_09_01
http://digital.world-grain.com/sosland/wg/2009_08_01
http://digital.world-grain.com/sosland/wg/2009_07_01
http://digital.world-grain.com/sosland/wg/2009_06_01
http://digital.world-grain.com/sosland/wg/2009_05_01
http://digital.world-grain.com/sosland/wg/2009_04_01
http://digital.world-grain.com/sosland/wg/2009_03_01
http://digital.world-grain.com/sosland/wg/2009_02_01
http://digital.world-grain.com/sosland/wg/2009_01_01
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