International Flavors & Fragrances to partner with Mars Wrigley Confectionery
On November 16, 2017, International Flavors & Fragrances (IFF) launched a new program called Shubh Mint aimed at supporting mint farmers and communities. It’s part of AdvanceMint, a global project to advance mint plant science. IFF is partnering with Mars Wrigley Confectionery to support mint farming in India. India is the largest producer of mint, supplying ~80% of the requirement.
IFF is contributing to this program that is focused on youth education and women’s empowerment through a municipal center. The gesture to the mint growing community could help IFF strengthen its supply chain. A secure supply chain should ensure an uninterrupted supply of raw materials in a cost-effective manner.
Matthias Haeni, group president of the Flavors segment, said, “Mint is an important crop for our industry, so ensuring a reliable supply chain of high-quality, natural mint is key. Partnering to support these critical smallholder farmers lets us leverage experience IFF gained last year as we worked to strengthen the vetiver supply chain, so, it was an easy lift for us to support hyper-local initiatives like this for the community.”
IFF stock performance for week ended November 17
IFF stock closed on a positive note, rising 1.3% and closing at $148.75 for the week ended November 17, 2017. It outperformed the Vanguard Materials ETF (VAW), which rose 0.5% for the same period. VAW has invested 1.3% of its portfolio in International Flavors & Fragrances. The strong gains in IFF stock have resulted in the stock trading 5.4% above the 100-day moving average of $141.10, indicating an upward trend in the stock. On a year-to-date basis, the stock has returned 27%.