Nestlé has defended its decision to stay in Russia by saying it would not profit from its operations there as Ukraine upped the pressure on the world’s biggest food company to withdraw as the war intensifies and casualties mount (The Financial Times £).
Ukraine war sparks food shortages in Arab nations as wheat prices soar (The Financial Times £).
Egypt has fixed the price of unsubsidised bread amid a global surge in wheat prices since Russia’s invasion of Ukraine (The Guardian).
Weaning the world off Russian grain means letting farmers decide how to use their land, an opinion column in The Telegraph says.
Fertiliser prices have broken new records as global supplies are hit by multiple factors including reduced supplies from Russia and Belarus, disruptions to the supply chain, a China export ban and a Canadian rail strike (The Guardian).
PZ Cussons, the maker of Carex soap and Original Source shower gel, has bought Childs Farm, the UK’s leading baby and children’s personal care brand, as it rebounds from years of falling sales (The Financial Times £).
Joanna Jensen started Childs Farm in 2010 from her country barn in Basingstoke, and it has grown rapidly to overtake the traditional market leader Johnson & Johnson after being stocked in Boots and major supermarkets (The Times £).
Having started out in a barn in Basingstoke, Childs Farm has since become one of the UK’s leading children’s skincare brands, with annual sales of £17.4m (The Mail).
Prologis, the world’s biggest warehouse owner, has launched a bid to buy Blackstone’s portfolio of logistics properties in what would be the largest ever private real estate deal, in a sector where the Covid-19 pandemic and the rise in online shopping have pushed values up sharply (The Financial Times £).
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