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Morning round-up, Friday July 19

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* Seafood giant, Mowi announced on Friday that it has entered into a Share Purchase Agreement to acquire 100% of the shares of Norwegian salmon farming company K. Strømmen Lakseoppdrett AS.

According to a statement from the company, K. Strømmen Lakseoppdrett has four licences, each with a a maximum allowed biomass of 780 tonnes, for sea-based salmon production.

 

Mowi said that the acquisition will help the company strengthen its position in the country and support its strategy of being a world-leading producer of seafood.

 

 

 

* Reuters reported that the high price of vanilla is fueling violence between farmers and thieves in Madagascar.

 

Competition for beans has also led to a drop in quality of the country’s crop due to unripe beans being stolen or picked early by farmers fearing thieves.


According to the news service, the wholesale price of vanilla bean has increased almost 500% in the past five years, making it the second-most expensive spice in the world and more valuable than silver.

 

 

 

* According to the Wall Street Journal trade negotiations between China and the US have come to a standstill.

 

China is reportedly demanding that restrictions on local tech firm Huawei be eased. However, the US considers the company a threat to its national security due to its ties to the Chinese government.


No in-person discussions between the two sides have reportedly been scheduled since President Donald Trump and President Xi Jinping agreed to resume talks last month.

 

 

 

* Ukrainian president Volodymyr Zelenskiy has called for local anti-corruption agencies to investigate how the country’s leading poultry producer, MHP received around 2.5 billion hryvnias (around $97 million) in state subsidies during 2017-2018.


Mr Zelenskiy told press that the company does not need state support as it has “excess profit” and “annually pays huge dividends to its shareholders”.

 

 

 

* Iowa Food Group (IFG) has reportedly sold the former Tyson Foods meat processing plant it bought last year to Lopez Foods after only operating it for less than three months.

 

According to local newspaper, Chronicle Times of Cherokee, the company sold the plant on July 12 for an undisclosed amount.

 

Lopez Foods, a supplier of meat products to McDonald’s, is expected to announce the deal later this month, along with start-up details.

 

 

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