Hypothetical stress test shows GCC lenders can handle disruptions
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Dubai: Cargill, a global food ingredients and solutions company, is planning to expand its warehouses, logistics and distribution network in the region during the first half of 2016, said Murat Tarakcioglu, chairman, Cargill Foods, Middle East, Turkey and North Africa.
"Our company, which has a global presence, invests in developed markets. But now, we are planning to boost our presence in the Mena region either through footprint expansion or boosting our access to customers through people who are on the ground and interacting with end-users," said Tarakcioglu.
The company has five offices in the region, with Istanbul being the headquarters followed by offices in Dubai, Cairo, Casablanca and Algeria.
"We see the UAE and Dubai in particular a hub for the region of 19 countries as it offers the best infrastructure that helps trade growth. The future is bright for the GCC."
On the global fluctuations in global commodity prices, Tarakcioglu said: "The Cargill risk management team works with customers to create tailored products that help protect them from volatile commodity markets. This is to pass on the benefits to our customers as long as low commodity prices prevail."
Cargill is introducing 12 prototypes in the Middle East, Turkey and Africa market at Gulfood Manufacturing 2015 - including Truvia Stevia-based sugar-free chewing gum and candies and no-sugar chocolate. Other products include a cost-effective recipe for Indian sauce, an "affordably indulgent" compound chocolate, a recombined chocolate milk and coated shortbread biscuits.
Cargill helps food manufacturers deliver nutritious options to health-conscious consumers by offering a range of solutions that will improve manufacturers' formulation from a health perspective.
Nedim Elcheik, commercial director of Cargill Foods Middle East, Turkey and North Africa, said: "From indulgent options to healthy treats, we provide a range of ingredients which have been sourced through sustainable means. Our four key values - premium indulgence, cost optimisation, health and innovation - are reflected in our products, offering food manufacturers healthy and cost-effective food that tastes good."
sandhya@khaleejtimes.com
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