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Corn field

Due to the severe drought across Europe this summer, global grain markets are very tight. Production of main plant-based raw materials is below expectation leading to availability issues.

These abnormal weather conditions have led the European Commission to cut its forecast of grains and in particular corn for the European Union. Areas such as the North of Italy, one of the most productive areas for waxy corn in Europe, and also specific French regions, have been extremely impacted.

Moreover, the global issue of the unavailability of grains is worsened with the pressure from the war in Ukraine.

Hence, our harvest forecasts reflect this situation. The current situation was completely unforeseeable and out of control.

Based on our best knowledge as of today, we estimate lacking 30% of the volumes sold last year and will have no choice but to reduce our supply to our customers.

Our application teams are ready to support any formulation optimization based on the wide range of products and solutions offered by the group. Relying on nearly 90 years of expertise in plant-based ingredients, they will work closely with customers to deliver similar functional benefits precisely tailored to the market.

We value our business relationship with all of our customers and deplore these unexpected circumstances. We remain committed to working with all of our business partners to continuously improve our ability to satisfy their current and future needs.