FinancialNewsMedia.com News Commentary - Agriculture often places significant pressure on natural resources and the environment.
Sustainable agricultural practices are intended to protect the environment, expand the Earth's natural resource base, and maintain and improve soil fertility. Based on a multi-pronged goal, sustainable agricultureseeks to Increase profitable farm income, promote environmental stewardship, enhance quality of life for farm families and communities and Increase production for human food and fiber needs. Sustainable agriculture frequently encompasses a wide range of production practices, including conventional and organic. A regionally integrated system of plant and animal production practices are designed to produce long-term results such as, production of sufficient human food, feed, fiber, and fuel to meet the needs of a sharply rising population, protection of the environment and expansion of the natural resources supply and sustainment of the economic viability of agriculture systems. A reportfrom DatamIntelligence.com projected that the Global "Agriculture Automation and Control Systems Market" is expected to grow at a highCAGRduring the forecasting period (2022-2029). The North America market was valued at USD 1,823.19 million in 2020 and the market is estimated to grow at a CAGR of 13.33% in the forecast period to reach a market value of USD 5,646.25 million by 2028. Active Companies in the markets today include AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), Archer-Daniels-Midland Company (NYSE:ADM), Conagra Brands, Inc. (NYSE: CAG), Tyson Foods (NYSE: TSN), McCormick & Company, Incorporated (NYSE: MKC).
The report said: "Agriculture Automation and Control System is redesigning the agriculture empowering the farmers with the wide scope of procedures, for example, exactness and economical agribusiness to confront difficulties in the field. Worldwide Agriculture Automation and Control System helps in gathering data about conditions like climate, moisture, temperature and ripeness of soil, Crop internet checking empowers recognition of weed, level of water, bug detection, animal interruption into the field, crop development, agribusiness... Nowadays, in large part due to the tremendous recent improvements in growing technology, the industry is witnessing a blossoming like no time before. New developments in the agro industry will also enhance the demand for yield monitor system across the world."
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) BREAKING NEWS: AgriFORCE Receives Notice of Allowance Related to its FORCEGH+ Facility from the United States Patent and Trademark Office - Patent Strengthens its IP Portfolio and Further Protects its Innovative Solutions - AgriFORCE Growing Systems Ltd.("the Company"), an intellectual property (IP)-focused AgTech company dedicated to advancing sustainable cultivation and crop processing across multiple platforms, today announced it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its patent application titled "Structures for Growing Plants."
This Notice of Allowance follows the Company's recently granted patentfrom the USPTO related to its automated growing systems within its FORCEGH+ facilities. Specifically, this allowed patent application has 19 claims covering unique features and designs related to the structures for growing plants including, transmissive panels that maximize the full light spectrum, enhanced insulation for maximizing energy efficiency, and innovative formation of structure support materials. This patent is among a group of applications the Company has submitted related to its FORCEGH+ facilities.
"I'm pleased to report another allowed patent related to our FORCEGH+ facilities," commented Ingo Mueller, Chief Executive Officer of AgriFORCE. "As evidenced by the granted patents announced to date as well as this notice of allowance, we are diligently working to ensure protection of our assets while strengthening our intellectual property portfolio. As we progress towards commencing development of the first Coachella Campusencompassing our state-of-the-art FORCEGH+ CEA facility, we believe IP will be a fundamental pillar to our success and differentiate our solutions from others in the industry."
"We are achieving significant milestones related to our IP portfolio," added Troy McClellan, President of AgriFORCE Solutions. "We continue to build upon a strong patent foundation and anticipate additional patents related to our FORCEGH+ facilities in the near-term that would further validate our ongoing efforts and business strategy. We are covering important aspects of our facilities including unique designs and technologies that we believe will set a new industry standard for higher quality and higher yield crops." CONTINUED... Read this full release for AgriFORCE Growing Systems at: https://ir.agriforcegs.com/
Other recent developments in the markets include:ADM (NYSE: ADM), a global leader in human and animal nutrition, recently unveiled its third annual outlook on the global consumer trends that will shape the food, beverage and animal nutrition industries and drive market growth in the years ahead.
Dissecting the intersection of health and well-being, sustainability and food security, ADM has identified eight spaces that detail consumers' evolving behaviors, attitudes and aspirations. The eight areas serve as anchor points to inspire innovation, ushering in a new wave of products and services for 2023.
"Often interconnected, these key themes are permeating throughout consumers' choices, demands and expectations of brands," said Brad Schwan, vice president of marketing for ADM. "The desire for a healthy mind, body and soul, as well as the global community and planet, is manifesting in proactive and decisive conscientious consumption across categories. As consumers look to prioritize what is most important to them, they want nutrition brands to do the same. Companies that can nimbly evolve alongside consumers are poised for success in the coming year and beyond."
Conagra Brands, Inc. (NYSE: CAG) In celebration of America Recycles Day, Conagra Brands recently honored its employees who are keeping materials out of landfills through impactful recycling and waste reduction measures. Seventeen Conagra facilities acrossthe United States,Canada, andMexicohave been awarded Zero Waste Champion status for diverting more than 90 percent of waste materials that would have otherwise been sent to landfills. In fiscal year 2022, these 17 facilities diverted more than 183,000 tons of waste for more beneficial uses through recycling, product donations to bolster food supplies at area food banks, use as animal feed, energy generation, or land applications to improve soil quality.
Conagra emphasizes a systematic and strategic approach to reduce the amount of waste its facilities generate to maximize the use of resources for the future. Conagra began the Zero Waste Champion program more than 10 years ago to recognize facilities that have employed environmentally responsible practices to avoid waste, which helps preserve natural resources, combat pollution, and reduce greenhouse gas emissions that contribute to climate change.
Tyson Foods, Inc. (NYSE: TSN),one of the world's largest food companies and a recognized leader in protein with leading brands includingTyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibpandState Fair, recently reported itsrecord annual sales and earnings performance.
"We delivered record sales and earnings for the full year, which was supported by our diverse portfolio and continued strength in consumer demand for protein," said Donnie King, president and CEO of Tyson Foods. "Our results were supported by historically strong operations in our Beef segment and improved performance in our Chicken segment. We also experienced share gains in both our foodservice Focus 6 categories and retail core business lines, which include our Tyson, Jimmy Dean, Hillshire Farm and Ball Park iconic brands."
McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, recently reported financial results for the third quarter endedAugust 31, 2022 and reaffirmed its financial outlook for fiscal year 2022.
Sales increased 3% in the third quarter from the year-ago period. In constant currency, sales increased 6% driven by growth in both the Consumer and Flavor Solutions segments. Both comparisons include a 1% unfavorable impact from the divestiture of the Company's Kitchen Basics business.
Operating income was$235 millionin the third quarter compared to$265 millionin the year-ago period. Adjusted operating income was$239 million compared to$272 millionin the third quarter of 2021.
Earnings per share was$0.82in the third quarter as compared to$0.79in the year-ago period. Adjusted earnings per share was$0.69as compared to$0.80in the year-ago period.
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