ALBANY, NEW YORK, U.S. — Horizon Milling LLC, a joint venture flour milling business between Cargill and CHS, Inc., is investing $7 million to upgrade its mill in the Port of Albany.
As part of the move, Horizon Milling plans to add a new packaging line, a 10-spout stainless steel packer and a storage tower.
The investment in the new machinery is expected to increase bags of flour per minute by one-third, Horizon Milling said.
The Albany flour mill of Horizon Milling has daily wheat flour capacity of 23,500 cwts and storage capacity of 1.1 million bushels, according to the Grain & Milling Annual published by Sosland Publishing Co. It is one of 22 flour mills operated by Horizon Milling.
Since Russia’s invasion of Ukraine in February, the world’s wheat supply has been thrown into question, with poorer nations facing scarcity and a potential food crisis, according to the United Nations.
Following are countries among the world’s least developed that are the most dependent on Russia and Ukraine for their annual wheat supply (2020), according to the UN Conference on Trade and Development. Nations in Africa import 44% of their wheat from Russia and Ukraine, according to the UN.
In marketing year 2022-23, the world is projected by the US Department of Agriculture (USDA) to produce 779.03 million tonnes of wheat and provide 204.89 million tonnes for export.
These are the eight major wheat importing nations/regions as listed in the monthly USDA World Agricultural Supply and Demand Estimates (WASDE) report and their annual tonnes with production.
Russia’s invasion of Ukraine in February and the persistent La Niña climate phenomenon have combined to create some of the most volatile market conditions in recent memory, sending prices skyrocketing as nations that depend on wheat to feed their populations scramble to secure supplies.
Each month, the WASDE releases new projections to reflect the most recent global market and production conditions, and this slideshow will be updated with those changes.