Global Food, Beverage & Tobacco Undiscovered Gems With Strong Fundamentals

Namibia Breweries

Market Cap: R6.2b

Engages in brewing and distribution of alcoholic beverages, and manufacture of soft drinks in Namibia and South Africa.

Zambia Sugar

Market Cap: K20.7b

Engages in growing of sugar cane in Zambia, the Democratic Republic of Congo, Kenya, and South Africa.

FRoSTA

Market Cap: €634.9m

Develops, produces, and markets frozen food products in Germany, Poland, Austria, Italy, and Eastern Europe.

Seneca Foods

Market Cap: US$813.0m

Provides packaged fruits and vegetables in the United States and internationally.

Tibet Development

Market Cap: CN¥3.2b

Engages in the production and sale of beer in China.

Torigoe

Market Cap: JP¥25.7b

Manufactures and sells flours and related products in Japan.

Kaneko Seeds

Market Cap: JP¥17.3b

Kaneko Seeds Co., Ltd. production and sale agricultural seeds in Japan.

YuanShengTai Dairy Farm

Market Cap: HK$1.2b

A dairy farming company, engages in the production and sale of raw cow milk in the People’s Republic of China.

Shandong Sinoglory Health Food

Market Cap: CN¥2.6b

Manufactures soy proteins in China.

Imuraya Group

Market Cap: JP¥31.7b

Manufactures and sells various food products in Japan and internationally.

Menthobi Karyatama Raya

Market Cap: Rp1.8t

Engages in the cultivation and development of palm oil plantations; and crude palm oil processing activities and related derivative products primarily in Indonesia.

PINAGO UTAMA

Market Cap: Rp2.4t

Engages in the oil palm and rubber plantation business in Indonesia.

Natural Food International Holding

Market Cap: HK$2.4b

An investment holding company, manufactures and sells natural health food products in China.

Cisadane Sawit Raya

Market Cap: Rp1.9t

Engages in the oil palm plantation business in Indonesia and internationally.

Ve Wong

Market Cap: NT$9.5b

Produces and distributes foods, drinks, and seasonings in Taiwan, and internationally.

Orkla India

Market Cap: ₹84.8b

Operates as a food company, manufactures and sells spices and convenience foods in India and internationally.

Nofoth Food Products

Market Cap: ر.س1.0b

Produces and sells bakery products in Saudi Arabia.

Nestlé Pakistan

Market Cap: PK₨360.8b

Manufactures, processes, and sells dairy, nutrition, beverages, and food products in Pakistan, Afghanistan, the United States, and internationally.

Nanfang Black Sesame GroupLtd

Market Cap: CN¥4.6b

Researches, develops, produces, and sells black sesame health products in China.

JB Foods

Market Cap: S$218.3m

An investment holding company, engages in the production and sale of cocoa ingredient products primarily in Singapore, Malaysia, Indonesia, the People’s Republic of China, and the United States.

Kanro

Market Cap: JP¥62.2b

Manufactures and sells confectionery and food products in Japan.

Anji Foodstuff

Market Cap: CN¥4.2b

Engages in the research and development, production, and sale of condiments in China and internationally.

Smart Organic AD

Market Cap: лв351.6m

Produces and distributes organic food products in Bulgaria, the European Union, Asia, and the Americas.

TSTE

Market Cap: ฿4.2b

Primarily engages in the production and distribution of wheat flour in Thailand.

PAN Group

Market Cap: ₫5.9t

Engages in agricultural, food, financial investment, and other related activities in Vietnam and internationally.

Dn Agrar Group

Market Cap: RON 442.3m

Engages in the production of cow milk.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 460.9b

Engages in the manufacture and sale of beer, soft drinks, mineral water, alcomixes, and energy drink products.

Mineralbrunnen Überkingen-Teinach GmbH KGaA

Market Cap: €131.0m

Mineralbrunnen Überkingen-Teinach GmbH & Co.

Lasco Manufacturing

Market Cap: JA$27.3b

Manufactures and sells soy-based products primarily Jamaica.

Jamaica Producers Group

Market Cap: JA$23.1b

Engages in the property management businesses in Europe, the Caribbean, and North America.

Oenon Holdings

Market Cap: JP¥30.0b

Engages in the development of alcoholic beverages, enzymes, pharmaceuticals, real estate, and other businesses based on biotechnologies derived from fermentation technologies in Japan.

Qinqin Foodstuffs Group (Cayman)

Market Cap: HK$1.0b

An investment holding company, engages in manufacturing, distributing, and selling food and snacks products in the People's Republic of China.

Hanoi Beer Alcohol and Beverage

Market Cap: ₫7.5t

Engages in the production and sale of beer, fermenting malt, spirits, non-alcoholic beverages, and mineral water.

Daodaoquan Grain and OilLtd

Market Cap: CN¥3.6b

Daodaoquan Grain and Oil Co.,Ltd. is engaged in an edible vegetable oil processing company in China.

Gradus AD

Market Cap: лв244.8m

Produces and sells poultry products in Bulgaria, Europe, and internationally.

GDH Supertime Group

Market Cap: CN¥6.1b

Engages in the research and development, production, and sale of malt raw material for beer brewing in China.