Page 6 - Food & Drink March 2020
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$20bn in protein opportunities
RESEARCH released by AgriFutures Australia estimates there will be $20 billion in additional opportunities for protein producers in Australia by 2030, with $3.1 billion in alternative protein categories.
The Changing Landscape of Protein Production report, funded by AgriFutures Australia’s National Rural Issues Program, said that included: $8.9 billion for Australian animal proteins;
$7 billion for traditional plant- sourced proteins; as well as the $3.1 for alternative proteins.
Alternative proteins are classified as plant-sourced and non-traditional proteins including plant-sourced meat, dairy and egg substitutes, cultured or cellular meat, insects and algae.
AgriFutures Australia managing director, John Harvey says the research provided important analysis on the implications for Australian producers and investors.
“We now have the facts about the aggregate
opportunities for Australian
agriculture in response to an
emerging market for alternative proteins up to
2030. This means we can replace
speculation with reliable forecasts to underpin
policy, regulatory changes and advocacy positions,” he says.
Harvey added that prioritising producing enough protein for the growing global population requires a united front.
“Segregation and competition between traditional and alternative protein producers are not as big a threat as expected.
“Enabling traditional and alternative protein producers to work in collaboration – such as using the by-product of insect farming as feed for chickens, pigs or fish – will provide a mutual sustainability benefit.” ✷
New Arnott’s CEO announced
ARNOTT’S has announced its new CEO, George Zoghbi, who will step into the role next month. Zoghbi replaces the interim CEO Brian Driscoll, who is also the board chair and KKR senior adviser.
KKR acquired the company from the Campbell Soup Company in December 2019.
Driscoll welcomed Zoghbi and said he was confident that under his leadership Zoghbi would “challenge the business to see growth and innovation opportunities”.
Zoghbi said he felt privileged to lead a company with deep Australian heritage and a portfolio of such unique and iconic brands. “Arnott’s is an incredible business with extremely talented employees. I look forward to working closely with the team to continue the Arnott’s tradition, as well as introducing new, innovative
products and avenues for growth that will make the company even more special for years to come.”
Zoghbi will return from the US where he has been a board director and special advisor at Kraft Heinz.
He was its COO from 2015-17, having joined Kraft in Australia in 2007, to run its ANZ operations. From 2009 he was president, Cheese & Dairy in the US.
David Lang, partner at KKR, said, “Given the importance of Arnott’s and its products to Australian consumers, it was critical that we attracted a strong CEO who deeply understands global industry trends and our local market. George has the long-term vision, proven track record and respect for the iconic brand value to ensure Arnott’s remains well ahead of the curve.” ✷
ABOVE: The iconic biscuit company’s Polly has the cracker and a new CEO. George Zoghbi will take the helm in April.
Unilever considers tea leave
UNILEVER CEO Alan Jope announced a strategic review of its global tea business as the company released its full-year 2019 results.
Its tea brands include PG Tips, Lipton, Bushells and Australian business T2, which it bought in 2013 for $60 million.
While its tea market saw price-led growth, the quarter
had the slowest growth rate in a decade. Premium and emerging markets performed well, but there was subdued consumer demand for black tea in its developed markets as consumers shift towards herbal tea.
Finance chief Graeme Pitkethly said the company would look at “all options” for the business.
Jope said: “We continue to focus on the growing segments of premium black tea, black tea in emerging markets, and fruit and herbal variants, with our premium herbal brand Pukka performing well.”
Pitkethly said all parts of the tea business would be considered in the review.
Black tea is a major part of Unilever’s tea business, selling in 60 countries and generating around US$3.3 billion in annual sales, he said. But sales of traditional black tea, the largest segment of the category, have been in decline in developed markets for several years due to changing consumer preferences.
Options following the review could be a partial or full sale of the business, but Pitkethly did not offer a time frame.
The review is expected to be completed by the middle of the year. ✷
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