Global Food, Beverage & Tobacco Undervalued based on future growth

Dharma Satya Nusantara

Market Cap: Rp18.7t

Operates in the palm oil and wood product business in Indonesia.

British American Tobacco Bangladesh

Market Cap: ৳133.7b

Manufactures and sells cigarettes in Bangladesh.

Ülker Bisküvi Sanayi

Market Cap: ₺42.3b

Manufactures, markets, and sells biscuits, chocolates, chocolate coated biscuits, wafers, and cakes in Turkey and internationally.

COFCO Joycome Foods

Market Cap: HK$7.7b

An investment holding company, engages in the production and sales of hog, and livestock slaughtering businesses in Mainland China.

Xinjiang GuannongLtd

Market Cap: CN¥6.9b

Engages in manufacturing, processing, trades, and selling agricultural products in China.

Nestlé Nigeria

Market Cap: ₦1.4t

Manufactures, markets, and distributes food products in Nigeria.

Savencia

Market Cap: €771.7m

Produces, distributes, and markets dairy and cheese products in France, the Rest of Europe, and internationally.

ChenGuang Biotech Group

Market Cap: CN¥6.3b

Develops and produces natural colors, spice extracts and essential oils, nutritional and pharmaceutical extracts, and oils and protein.

São Martinho

Market Cap: R$4.4b

Engages in the production and sale of sugar, ethanol, and other sugarcane byproducts in Brazil.

Lotte Chilsung Beverage

Market Cap: ₩1.1t

Manufactures and sells soft drinks, liquor, fruit/vegetable drinks, grain drinks, and food and other beverages in Korea, the Philippines, Pakistan, the United States, Japan, China, Myanmar, Singapore, and Russia.

Lotte WellfoodLtd

Market Cap: ₩1.1t

Engages in the manufacture and sale of various confectionery products in South Korea and internationally.

IFBH

Market Cap: HK$5.7b

Produces fruit juice-based beverages and non-beverage fruit products.

Nusantara Sawit Sejahtera

Market Cap: Rp11.9t

Engages in the palm oil plantation business in Indonesia.

Olvi Oyj

Market Cap: €594.2m

A beverage company, manufactures and sells alcoholic and non-alcoholic beverages in Finland, Estonia, Latvia, Lithuania, Denmark, and Belarus.

Juhayna Food IndustriesE

Market Cap: ج.م31.3b

Engages in producing, manufacturing, processing, and packaging of dairy products, juices, and cooking products in Egypt.

Inghams Group

Market Cap: AU$892.0m

Engages in the production and sale of chicken and turkey products under the Ingham’s brand primarily in Australia and New Zealand.

Gujarat Ambuja Exports

Market Cap: ₹50.7b

Primarily engages in the agro processing activities in India and internationally.

Daesang

Market Cap: ₩738.4b

Daesang Corporation, together with its subsidiaries, manufacture seasonings and food additives products in Korea, Asia, the United States, Europe, Oceania, and Africa.

Astral Foods

Market Cap: R8.5b

Operates as an integrated poultry producer in South Africa and internationally.

Binggrae

Market Cap: ₩654.3b

Engages in production and sale of dairy products in South Korea and internationally.

Indofood Agri Resources

Market Cap: S$516.5m

Operates as a vertically integrated agribusiness company in Singapore, Indonesia, China, Nigeria, Timor Leste, and internationally.

Calavo Growers

Market Cap: US$389.2m

Calavo Growers, Inc. markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery, foodservice, club stores, mass merchandisers, food distributors, and wholesale customers worldwide.

Oceana Group

Market Cap: R6.4b

Operates as a fishing and food processing company in South Africa, Namibia, rest of Africa, North America, Europe, the Far East, and internationally.

Camil Alimentos

Market Cap: R$1.9b

Engages in processing, production, packaging, and marketing of food products.

Warabeya Nichiyo Holdings

Market Cap: JP¥53.7b

Engages in the manufacture and sale of food products for convenience stores in Japan and internationally.

Bonduelle

Market Cap: €273.0m

Engages in the provision of plant-based food in Europe and internationally.

Thai Coconut

Market Cap: ฿10.1b

Produces and distributes coconut products in Thailand.

High Liner Foods

Market Cap: CA$415.1m

Processes and markets prepared and packaged frozen seafood products in North America.

Salmones Camanchaca

Market Cap: CL$267.1b

Engages in the salmon farming business in Chile.

Anora Group Oyj

Market Cap: €232.4m

Produces, imports, markets, distributes, and sells alcoholic beverages in the Finland, Europe, and internationally.

Nippon Indosari Corpindo

Market Cap: Rp4.5t

Engages in the bakery and cakes business in Indonesia.

Boa Safra Sementes

Market Cap: R$1.4b

Produces and sells soybean seeds in Brazil.

Tunas Baru Lampung

Market Cap: Rp4.4t

Produces and sells vegetable cooking oils in Indonesia.

Taokaenoi Food & Marketing

Market Cap: ฿6.4b

Manufactures and distributes fried, grilled, and baked seaweed and seaweed snacks.

Obour Land for Food IndustriesE

Market Cap: ج.م9.3b

Manufactures and distributes dairy products in Egypt.

Göknur Gida Maddeleri Enerji Imalat Ithalat Ihracat Ticaret ve Sanayi Anonim Sirketi

Market Cap: ₺8.0b

Manages and processes fruits and vegetables in Turkey.