Global Food, Beverage & Tobacco Undervalued based on future growth

Muyuan Foods

Market Cap: CN¥266.9b

Operates in the hog industry in China.

Bunge Global

Market Cap: US$18.3b

Operates as an agribusiness and food company worldwide.

Wens Foodstuff Group

Market Cap: CN¥119.3b

Operates as an agricultural and animal husbandry company in China.

Mowi

Market Cap: NOK 117.8b

A seafood company, produces and sells Atlantic salmon products worldwide.

Indofood CBP Sukses Makmur

Market Cap: Rp100.3t

Produces and sells consumers products in Indonesia, Rest of Asia, the Middle East, Africa, and internationally.

Hanjaya Mandala Sampoerna

Market Cap: Rp99.5t

Engages in manufacture, distribution, and trading of cigarettes and other tobacco products in Indonesia and Internationally.

Cofco Sugar HoldingLTD

Market Cap: CN¥33.9b

Engages in the sugar and tomato processing activities in China and internationally.

Alfa. de

Market Cap: Mex$80.3b

Primarily engages in the synthetic fiber and refrigerated food businesses in Mexico.

Indofood Sukses Makmur

Market Cap: Rp62.6t

Operates as a food solutions company in Indonesia, the Middle East, Africa, the rest of Asia, and internationally.

Coca-Cola Içecek Anonim Sirketi

Market Cap: ₺153.9b

Engages in the production, sale, and distribution of sparkling and still beverages in Turkey, Pakistan, Bangladesh, Central Asia, and the Middle East.

First Pacific

Market Cap: HK$27.6b

An investment holding company, engages in the consumer food products, telecommunications, infrastructure, and natural resources businesses in the Philippines, Indonesia, Singapore, the Middle East, Africa, and internationally.

Dekon Food and Agriculture Group

Market Cap: HK$25.9b

Engages in the livestock and poultry breeding and farming businesses.

Premium Brands Holdings

Market Cap: CA$4.2b

Manufactures and distributes food products under various brands in the United States, Canada, Asia, Europe, and internationally.

P/F Bakkafrost

Market Cap: NOK 29.3b

Produces and sells salmon products in North America, Western Europe, Eastern Europe, Asia, and internationally.

Lerøy Seafood Group

Market Cap: NOK 27.3b

Produces, processes, markets, sells, and distributes seafood products.

Jiangsu Lihua Foods Group

Market Cap: CN¥17.3b

Engages in breeding, slaughtering, processing, and sales of yellow feather broilers It is involved in breeding and sales of commercial pigs and geese.

CJ Cheiljedang

Market Cap: ₩3.5t

Engages in the food business in South Korea and internationally.

Yunnan Shennong Agricultural Industry GroupLTD

Market Cap: CN¥15.5b

Yunnan Shennong Agricultural Industry Group Co.,LTD.

Aktieselskabet Schouw

Market Cap: DKK 13.1b

An industrial conglomerate, provides feed products used in aquaculture in Norway, Chile, Denmark, the United Kingdom, the United States, Ecuador, and internationally.

Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi

Market Cap: ₺85.4b

Engages in the production, bottling, distribution, marketing, and sale of beer, malt, non-carbonated, and non-alcoholic beverages in Turkey and internationally.

Gudang Garam

Market Cap: Rp32.4t

Engages in the manufacture and sale of cigarettes in Indonesia and internationally.

Yantai North Andre JuiceLtd

Market Cap: HK$14.7b

Engages in the production and sale of fruit and vegetable juices in China.

Fresh Del Monte Produce

Market Cap: US$1.8b

Through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally.

Nomad Foods

Market Cap: US$1.8b

Manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally.

Austevoll Seafood

Market Cap: NOK 18.0b

A seafood company, produces and sells salmon and trout, whitefish, and pelagic in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, North America, Asia, and South America.

Chacha Food Company

Market Cap: CN¥11.0b

Produces and sells fried nuts and nuts snacks in China.

East African Breweries

Market Cap: KSh193.0b

Engages in the brewery, production, importation, marketing, distribution, and sale of beer, spirits, adult non-alcoholic drinks, and malt and barley products in Kenya, Uganda, and Tanzania.

Nigerian Breweries

Market Cap: ₦2.1t

Engages in the brewing, marketing, and selling of lager, stout, non-alcoholic malt drinks, and soft drinks in Nigeria.

Dongwon Industries

Market Cap: ₩2.1t

Engages in the marine and fisheries, distribution, and logistics businesses in South Korea and internationally.

TECON BIOLOGYLTD

Market Cap: CN¥10.1b

Engages in the provision of animal health care, feed, pig breeding, agricultural product processing and trade, and financial services in China and internationally.

International Breweries

Market Cap: ₦2.0t

Engages in the brewing, packaging, and marketing of beer, alcoholic flavored/non-alcoholic beverages, and soft drinks in Nigeria.

SLC Agrícola

Market Cap: R$7.4b

Produces and sells agricultural products in Brazil and internationally.

Three Squirrels

Market Cap: CN¥9.3b

Produces and retails food products.

Leshan Giantstar Farming&Husbandry

Market Cap: CN¥9.2b

Engages in livestock and poultry breeding in China.

Dole

Market Cap: US$1.3b

Engages in sourcing, processing, marketing, and distribution of fresh fruit and vegetables worldwide.

Grupo Herdez. de

Market Cap: Mex$22.5b

A food company, provides processed food in Mexico and internationally.