(AOF) – Kellogg unveiled quarterly results above expectations and raised its annual forecast. The American agri-food group made a net profit of 422 million dollars against 368 million a year earlier. Excluding exceptional items, EPS came out at $1.1 against a consensus of $0.93. Turnover increased from 3.584 to 3.672 billion. Wall Street was aiming for 3.586 billion. Kellogg now expects 2022 organic growth of 4% compared to 3% so far. The market expects 1.5%.
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A booming fair trade in France
This trade has almost tripled in five years, reaching 1.83 billion euros in 2020 in France. Based on a more profitable model for producers in southern countries, it was developed by the NGO Max Havelaar in 1988. The latter labels 90% of fair trade in the world with a total of 10.7 billion dollars in 2019 This trade is 95% food products. Coffee, chocolate, bananas and cane sugar account for three quarters of sales. On our territory, the NGO will label wheat from the Gers and milk from Poitou-Charentes. The French market is developing through mass distribution, which represented 54% of sales in 2020 compared to 42% in 2018. However, while organic represents 6.5% of consumption in France, the share of fair trade is limited to 1.5%.