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Weekly Roundup... 19 January, 2021

By Maev Martin
Weekly Roundup... 19 January, 2021

Tesco Ireland has today announced that it has reached €5 million in donations to community groups and local causes across Ireland through its Community Fund initiative. This milestone comes as the retailer prepares to donate over €118,000 to health-related community groups such as the Irish Wheelchair Associations, ISPCC and the Irish Cancer Society, in the first round of the 2021 Fund. First launched in 2014, the Community Fund aims to provide financial support to groups in the local communities across the country, the retailer said. Now entering its seventh year, the Community Fund campaign continues to provide vital support to community groups across Ireland, it added.

China's grains imports soared to record highs in 2020, customs data showed, after tight domestic corn supplies pushed prices to multi-year peaks, driving demand for cheaper imports. China, the world's top agricultural market, bought a record 11.3 million tonnes of imported corn last year, including 2.25 million tonnes in December alone, according to General Administration of Customs data, reports ReutersCorn imports in 2020 were more than double the previous year's volume and exceeded their annual quota, which was set at 7.2 million tonnes, for the first time. China also imported a record 8.38 million tonnes of wheat, against a quota of 9.64 million tonnes. In 2019, China only used 67% of its annual quota for corn and one-third of its quota for wheat.

Norway's Mowi, the world's largest fish farming company, posted a bigger-than-expected drop in fourth-quarter profits, hit by a lower price of salmon amid the coronavirus pandemic. The company's operating profit for the October-December period declined by 70% to €49 million ($59.2 million) from €166 million a year earlier, lagging an average forecast of 74.3 million in a Refinitiv poll of analysts. Lockdowns to curb the spread of COVID-19 have led to a sharp decline in demand for salmon from restaurants globally, fish farmers have said, although sales via grocery stores increased as more people cook at home.

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