Beyond The Headlines: USDA modifies farmer loan policy, Brazil’s climate-smart coffee plantations
09 Aug 2024 --- This week in industry news, the USDA updated farm loan programs to help borrowers expand their agricultural operations, and Brazil’s Cerrado das Águas Consortium collaborated on smart agriculture projects to save up to 30% water in coffee plantations. Meanwhile, Nespresso unveiled a honey range to support regenerative agriculture and Fonterra’s emission reduction targets were validated by the Science Based Target initiative (SBTi).
Business highlights
The USDA updated the Farm Service Agency’s Farm Loan Programs to increase financial freedom, resilience and profitability for agricultural producers. The policy changes include a new low-interest installment set-aside program for financially distressed borrowers, access to flexible repayment terms for eligible loan applicants to build savings and reduced additional loan security requirements to enable borrowers to leverage equity. The changes will be effective from September 25.
The USDA also invested an additional US$300 million through the Regional Agricultural Promotion Program (RAPP) to help grow export markets for American farms and food products around the world. Last year, the organization launched RAPP as part of the Biden-Harris Administration’s commitment to creating more, new and better markets for US producers and agribusinesses. The additional funding was made keeping in mind the importance of exports in supporting farm income and rural economic development, said USDA deputy secretary Torres Small.
Yindii connects eco-conscious customers with surplus food in supermarkets and restaurants using a mobile app (Image credit: Yindii).Yindii, a Thailand-based company that combats food waste and its environmental impact, expanded to Singapore to tackle food waste. Over 2,200 metric tons of food is discarded daily in Singapore, a 23% increase since 2020, according to the National Environment Agency. Yindii works by connecting customers with surplus food. Using a mobile app, users can find high-quality unsold food from premium bakeries, restaurants and supermarkets in the selected location.
North America-based Lassonde Industries unveiled its expanded and enhanced beverage manufacturing facility in Hendersonville, North Carolina, with a US$53 million investment. The site includes a new single-serve aseptic juice production line and a 104,000 sq. ft. distribution center, which will increase its overall distribution capacity and make the operations more sustainable. Aseptic processing and packaging maintains the product’s taste and lowers the amount of plastic used. It also reduces water and energy usage during production.
Product launches
Nespresso USA unveiled Nespresso Bloom, a range of honey products to support regenerative agriculture and sustainable farming practices. The products include Coffee Blossom Honey with a floral flavor and velvety, smooth, caramel and vanilla notes for coffee and yogurt and Coffee Blossom Honey Syrup for macchiatos, espresso martinis and waffles. The honey range is harvested from the same coffee plants as some of the brand’s Nespresso coffee and is developed in partnership with the Nestlé R+D Accelerator in Lausanne, Switzerland.
Coffee Blossom Honey Syrup is a blend of the Coffee Blossom Honey infused with Nespresso coffee (Image credit: Nespresso).Fanta and Warner Bros. Pictures joined forces to launch a limited edition Fanta Beetlejuice flavor, with the packaging showcasing the titular characters from the upcoming movie Beetlejuice Beetlejuice. The full Fanta flavor range will receive limited time makeovers including orange, strawberry, pineapple, grape, lemon, strawberry and kiwi flavors. The products will be available from August 12 in over 50 markets worldwide.
Sustainability highlights
SBTi validated Fonterra’s emissions reduction targets, which means they are aligned to the Paris Agreement to limit global warming to 1.5°C. The co-op was required to set an additional scope 3 energy and industrial target to focus on the climate ambitions of vendors and customers and their alignment to science-based targets. It also targets scope 1 and 3 FLAG GHG emissions reduction from dairy 30% per metric ton of fat-and-protein-corrected milk by FY2030 from an FY2018 base year.
Brazil-based collaborative platform Cerrado das Águas Consortium (CCA) and Cooperativa dos Cafeicultores do Cerrado (Expocacer), which promotes coffee quality through socio-environmental initiatives, partnered on smart agriculture program projects that save up to 30% water for plantations. The “Conscious Producer Investment Program” offers producers specialized services for the environmental development of their properties in three areas: restoration, climate-smart agricultural practices and efficient water resource management. The CCA develops actions and projects aimed at creating sustainable productive landscapes, generating positive environmental and socio-economic impacts throughout the entire Cerrado Mineiro region in Brazil.
By Insha Naureen
