...over the next couple of years. 6% 4% 2% 0% BRIC G7 + Eurozone (416) 594-8041 warren.lovely@cibc.ca Emanuella Enenajor (416) 956-6527 emanuella.enenajor@cibc.ca Andrew Grantham (416) 956-3219 andrew.grantham@cibc.ca “text text text” The Money Myth Gold’s allure has typically rested on two concerns about the alternative asset: money. Either inflation alone, or in concert with a steep currency depreciation, is seen as a reason for holding gold rather than the most prominent alternative, the US dollar. In terms of current inflation, it’s hard to see what anyone would be worried about. CPI inflation has all but melted away, not only in the US, but across the developed world (Chart 1). True, there’s been a bit more heat in the developing world, but for the four large players that make up the so-called BRIC group, inflation is still well below where it stood in 2011. Those in India might be somewhat more concerned, but it’s not clear that they would be better off piling...
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...extract maximum returns out of an Investment, one needs to keep eyes and ears wide open to sense early any opportunity coming in the way. In the last report titled ' Comprehensive Analysis of Indian Starch & Starch Derivatives Sector ' a deep tabular and a brief theoretical analysis was presented of last 10 Years' Data to understand the scope and potential of Indian Starch & Starch Derivatives Sector. Now, in this report, we will present a deep theoretical argument based on the study of Chinese Starch & Starch Derivatives Sector over last two decades to understand the tremendous growth opportunity Indian Starch & Starch Derivatives Sector provides in the coming decade. It is worthwhile to note here that Indian Sector is almost a replica of Chinese Sector and Indian Sector, as at 2010, is at a stage where Chinese Sector was there in 1992. Over the time period between 1992-2009, Chinese Starch & Starch Derivatives Sector has grown more than 10 times and Indian Starch & Starch Derivatives Sector is bound to replicate such growth in the span of coming 10 years. We will also include in our analysis the consumption-trend of Sugar vis-a-vis Starch in China as well as India as Starch-based sweetners form 50 % of the marketsize of Chinese Starch & Starch Derivatives Sector whereas use of Starch-based sweetners as a substitute to sugar is only now catching up fast in India. We will also discuss briefly in this report the valuation aspect of Chinese and Indian sector at macro level and micro...
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...Market Description Gluten is a protein composite found in wheat and related grains, including barley, rye, oat, malt and triticale. Gluten causes health problems for people who suffer from celiac disease (also known as gluten intolerance), some cases of wheat allergy or non-celiac gluten sensitivity. Treating celiac disease means excluding all gluten containing products from one’s diet like bread products, pastry, pasta, beer and even products where gluten is sometimes used as a stabilizing ingredient. However, gluten-free market offers a substitution probably for any gluten containing food. (More info about celiac disease and gluten-free diet can be found on https://celiac.org) At first, gluten-free food market was driven by growing of celiac awareness, but than it became a new trend and quickly expended over the past decade and its size is expected to double in the next 10 years. According to the estimations of market research firm Nielsen, the sales of gluten-free products have doubled in the past four years, rising from $11.5 billion to more than $23 billion. And sales of gluten-free food in America are forecast to grow by a further 61% by 2017, with similar increases expected in other rich countries. (“The article is Gluten-free” Vikram Mansharamani) Present and potential buyers It’s obvious that among consumers of gluten-free food we can count people who suffer from celiac disease, wheat allergy or non-celiac gluten sensitivity. However, demand doesn’t end here....
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...Book 3 - Technology, use and potentialities of Latin American starchy tubers Chapter 18 Starch-based plastics Olivier Vilpoux1 & Luc Averous.2 18.1. Introduction Brazil disposes of approximately 240,000 tons of waste per day, an amount lower than that in the USA (607,000 t./day), but fairly above those in countries such as Germany (85,000 t./day) and Sweden (10,400 t./day). Of that total, a large amount goes to open waste deposits. Only a small quantity is disposed of in appropriate places. A city like São Paulo spends, per day, US$ 300,000 with waste. According to the Instituto de Pesquisas Tecnológicas – IPT (Institute of Technological Research), only few municipalities have specific teams and public policies engaged in dealing with the waste. When it is not treated, waste becomes a serious sanitary problem, since it exposes the community to illnesses like diarrhea, amebiasis, and parasitosis, apart from contaminating the soil, waters and water tables. Among solutions, there are the creation of sanitary landfills in appropriate places, adoption of selective collecting and recycling programs, conducting of campaigns with the aim of both making society conscious about the problem and demanding a greater participation of government authorities (Editora Abril, 2002). The manufacturing of biodegradable material offers an interesting solution for plastic materials. Like it happens with organic residues, such as foodstuff, elimination of biodegradable materials ...
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...Case Study: Strategic Analysis of Agrana Agrana was founded in 1988 as Investment Company for 2 and 3 starch and sugar factories respectively. It has continually grown to a worldwide organization in at least 26 countries and with approximately 55 manufacturing plants. It deals with three kinds of commodities which are interrelated: fruit, sugar and starch. It main work is to disburse fruit concentrates and preparations to companies producing soft drinks, dairy and baked products. This means even without the knowledge of this company you would be curious enough to enjoy the services it offers. Being an origin of a small country Austria this industry has received many challenges in trying to reinstate itself in the entire Europe and then become multinational. It had to compete with other organizations found in more powerful countries to gain competitive advantage; this was not achieved not until in 1989 where the Eastern and Central Europe opened their market for it bringing a significant increase in their scope of customers and also involving those big countries as members as partners. At the same time global companies such as Nestle, Coca cola and Pepsi partnered with this company further increasing it fame as stated by Farnell and McDonald (2010). With the problem of reorganization of the sugar market in Europe Agrana has been forced to focus on future strategies on how to enlarge the company according to stipulations by the European Commission. Agrana has faced a lot...
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...AGRANA with current expansion into Australia and South East Asia is also very outstanding. 1. From an industry-based view, how would you characterize competition in this industry? AGRANA has seen remarkable growth in its expansion and acquisition of new entities although it kept its diversification to a minimum. It still concentrates on its major divisions of Sugar, Starch, Fruit and Bioethanol production as currently. However, AGRANA has become a conglomerate of different entities within the group. The success of integrating these different entities with diverse origins has reduced its inter-firm rivalry to a minimum. Within its component parts, AGRANA has seen and continues to enjoy great success. As an industry leader, AGRANA has also cemented its lead by having a competitive edge using its “personnel, experience and financial strength” to the advantage of the company. The bas of AGRANA now has almost been solidified in an industry where new and potential entry commands a lot of resources and financial power. AGRANA has over the years strategically positioned itself in first solidifying its market base before expanding into the global scene. Since the concentration of AGRANA production is with agricultural producers, the supply base does not have a strong cohesion to sustain an effective bargaining power. AGRANA still maintains its production units with the processing of agricultural...
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...heat. Prices are highly sensitive to speculation in the growing season. “New Crop” corn is referred to the corn that is currently on the ground or the upcoming harvest. The United States is the largest exporter of corn (48 mmt), with Brazil, Argentina, and Ukraine following (33, 28 and 20 mmt, respectively). Although those countries are smaller contributors, they are still a major influence on corn markets and the...
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...Are Rising Food Costs Related to Rising Fuel Costs? ECO 550 Dr. Isley Mary Thomas March 19, 2011 Are the rising food costs related to rising fuel costs? Not only does the rising costs of fuel cause an increase in prices, but the use of some crops to make biofuels also drives the cost of food up. High crude oil prices have fueled interest in finding alternative energy sources and reducing dependency on import oil supplies. The emergence of biofuels has given rise to an alternative market for a number of agriculture commodities. Fossil fuel is a general term for buried combustible geologic deposits of organic materials formed from decayed plants and animals that have been converted to crude oil, coal, natural gas, or heavy oils by exposure to heat and pressure in the earth’s crust over hundreds of millions of years. The burning of these fossil fuels is the largest source of emissions of carbon dioxide which is one of the greenhouse gases that contribute to global warming. Biofuels are transportation fuels like ethanol and biodiesel that are made from biomass materials. The fuels are usually blended with petroleum fuels, but can also be used alone. Using ethanol or biodiesel means we don’t burn quite as much fossil fuel. Biofuels...
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...choose to consume affects the environment and the people around us in both the short-term and the long-term. First, the global market itself has pros and cons. A global market ideally creates opportunities for more people to provide goods and services more cheaply, which in turn makes more jobs available. Additionally, it allows consumers complete access to many products that would otherwise be difficult, if not impossible, to acquire. However, in order to do any good in the long term, the system must be sustainable (Collins, 2010). That said, today, the global market is realistically not so. Decentralization, which functions by having smaller groups of people specialize in a certain niche product that is then dispersed globally, is socially unjust, creating pockets of wealth while a large majority of people work hard for less money in their local currency (Norber & Gorelick, 2013, para 5). The high demand for one specific area’s natural resources results in frequent over-farming, which depletes the nutrients in the soils and increases the amount of erosion. The large amounts of pesticides applied to crops seep into the surrounding ground and water, poisoning the ecosystem. Because of this issue more land then has to be cleared for farming, doing further damage to the environment (Norber & Gorelick, 2013, para 7). In addition, the global market creates a need for goods...
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...Life Cycle Assessment study of starch products for the European starch industry association (AAF): sector study Vercalsteren An, Dils Evelien, Boonen Katrien Study accomplished under the authority of the European starch industry association (AAF) 2011/TEM/R/104 August 2012 All rights, amongst which the copyright, on the materials described in this document rest with the Flemish Institute for Technological Research NV (“VITO”), Boeretang 200, BE-2400 Mol, Register of Legal Entities VAT BE 0244.195.916. Table of Contents TABLE OF CONTENTS Table of Contents ________________________________________________________________ 3 List of Figures ___________________________________________________________________ 4 List of Tables ____________________________________________________________________ 5 CHAPTER 1 CHAPTER 2 2.1. 2.2. 2.3. Introduction ________________________________________________________ 7 Definition of goal and scope ___________________________________________ 9 9 9 10 Introduction Goal definition Scope definition CHAPTER 3 CHAPTER 4 4.1. Life cycle data inventory _____________________________________________ 15 life cycle impact assessment __________________________________________ 19 19 LCIA methodology 4.2. Environmental profiles of starch products 20 4.2.1. Environmental profile of native starches _________________________________ 20 4.2.2. Environmental profile of liquid glucose (including Glucose and Fructose syrups) __ 20 4.3. Carbon...
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...significantly improve the industrial productivity (Roy et al. 2012). Among various enzymes available in market, α-amylase has received a special attention in commercial production due to its widely used applications. α-Amylase contributed to 50% of the world enzyme production and has a great importance in many industries such as in food processing, laundry and also in pharmaceutical (Asgher et al. 2007). α-Amylase enzyme acts on α-1,4 glycosidic bonds in starch substrate backbone leading to the formation of soluble maltodextrins, glucose and maltose (Vidyalakshmi et al. 2009). This characteristic is extremely useful especially in industries that require the hydroxylation of starch such as the production of sugar syrups. The α-amylase enzyme can be obtained from various sources such as plants animals and microbes (Ahmed et al. 2011). However, the naturally occurring enzyme is still insufficient to support all the industrial production and therefore, it is crucial to find a new alternative sources, which is cost-efficient and high yield capacity to meet the supply demand (Yin et al. 2003). In industries, the microbial α-amylase enzyme such as from Bacillus subtilis is more preferable compared to other sources due to its thermo stability (Asgher et al. 2007). This unique feature is favorable in many commercial processing that requires high temperature such as the liquefaction of starch. The aim of this literature review is to determine the cloning and expression of α-amylase gene from...
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...Technological aspects are considered, but economic aspects are also briefly addressed. INTRODUCTION: Food processing through the use of biological agents is historically a well-established approach. The earliest applications go back to 6,000 BC or earlier, with the brewing of beer, bread baking, and cheese and wine making, whereas the first purposeful microbial oxidation dates from 2,000 BC, with vinegar production. Coming to modern days, in the late XIX, century Christian Hansen reported the use of rennet (a mixture of chymosin and pepsin) for cheese making, and production of bacterial amylases was started at Takamine (latter to become part of Genencor). Pectinases were used for juice clarification in the 1930s, and for a short period during World War II, invertase was also used for the production of invert sugar syrup in a process that...
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...Corn, the Misunderstood Miracle Grass Corn, the Misunderstood Miracle Grass From the ancient Mayan culture to colonization of America to modern society, Corn has been a large part of many cultures. In Mayan Corn was such an important crop to them that they actually gave sacrifices to ensure that the Corn crops came out with abundance. With all of the changing it has done many do not understand that Corn is actually a grass and a sophisticated one at that. Corn has adapted itself to many environments and has changed forms dramatically over decades of being grown. Although Corn has advanced many times over, it still requires human intervention. Corn has been so much more than just food for people. From creating food for the livestock we grow and eat to being used in many everyday products from medicines down to the rubber in tires and gas in cars. While for many years Corn was thought to be just another vegetable Corn is actually grass that has evolved many different ways, been implemented in many products, and has become a part of everyday life. Corn has many points where evolution has taken its role in the Corn we know today (Omnivores Dilemma P. 37-38). The structure of Corn has been a crucial factor for its survival. The structure of Corn cannot be weak and flimsy; it has to withstand harsh weather, plowing, birds, and or insects. Many times Corn can adjust itself to the different climates whether there is abundance of water or lack thereof. “Like a giant wick, a growing...
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...Colgate Palmolive - http://www.colgate.com/app/Colgate/US/Corp/LegalPrivacy.cvsp General Description Colgate-Palmolive is one of the leading consumer product companies in the world. It offers products in many categories including oral care, personal care, household surface, and fabric care, and pet nutrition. Colgate-Palmolive has market leadership around the world, primarily operating in North America, Latin America, Europe, and Greater Asia/Africa. The company has headquarters in New York, and employs around 40,000 people. Owner: Ian Cook - Chairman, President, CEO (Colgate is a publicly held company) Industry: Overall Health Care Products Types of Brands offered: Men's Speed Stick Lady Speed Stick Softsoap Body Wash/Hand Lotion Irish Spring Body Wash Afta After Shave Skin Bracer After Shave Palmolive Dishwasher Solutions Suavitel Fabric Conditioners Murphy Household Cleaning Solutions Fabuloso Furniture Solutions Colgate Toothpaste/Toothbrushes History of the Business: 1806 William Colgate starts a starch, soap and candle business on Dutch Street in New York City. 1820 Colgate establishes a starch factory in Jersey City, New Jersey. 1857 Upon the death of founder William Colgate, the company is reorganized as Colgate & Company under the management of Samuel Colgate, his son. 1906 Colgate & Company celebrates its 100th anniversary. Product line includes over 800 different products. 1920s Colgate begins establishing operations in...
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...Chapter 1 INTRODUCTION Filipinos are one of the most diligent people around the world. They dedicate a big part of their lives working. They are passionate of their work for their families. Due to long hours of wearing footwear in performing daily activities and routine, many of them tend to acquire fungal foot diseases. These fungal diseases are caused by different types of fungi, including dermatophytes and yeasts which are common in the environment. Most fungi are not dangerous, but some types can be harmful to health. In effect, the person who is affected of it might acquire smelly stinky feet which prompt them to find for some herbal and over-the-counter medicines (www.cdc.gov.com, August 17, 2015). Herbal medicines have been widely used within rural areas as a medicinal alternative to cure fungal infections and skin-causing diseases such as ringworm and athlete’s foot in the past. Nowadays, as technology innovates, new products have been released in the market as an alternative to herbal medicines for fungal infections such as foot powder. Foot powder is a solid substance in the form of fine tiny loose particles containing active agents for topical application in the treatment of fungal infections. This helps regulate the odor of the foot and aids in the healing process of the skin diseases such as athlete’s foot. In order to make the foot powder more effective, it must be made out of eight plants that the Department of Health affirms as scientifically proven to...
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