Global Food Industry and Business News

:. Food Industry News

Yesterday's Headlines 07/10/2008

Food Staple Prices to Weather Financial Storm London, Oct 7 - Agricultural commodity prices are likely to fall in the short term as investment funds exit the market but should recover eventually in line with their fundamentals, fund managers told a conference on Tuesday.

Safeway Third-Quarter Profit Rises New York, Oct 7 - Supermarket operator Safeway Inc posted a higher third-quarter profit Tuesday, helped by cost controls as consumer spending weakened.

US Beer Industry Posts Second Consecutive Year of Case Sales Gains - Light and Imported Beers Lead the Pack Norwalk, Conn., Oct. 7 - During the first seven months of 2008, the U.S. beer industry has experienced dramatic change with MillerCoors officially working together as one entity, and the merger between Belgium-based InBev and U.S. brewer Anheuser-Busch.

UK Supermarkets Turn up Heat on Specialist Retailers London, Oct 7 - Supermarkets, keen to bolster slim profit margins and cash in on consumers' current focus on value, are pushing further out of their core food market, piling extra pressure on specialist retailers already hit by a downturn.

Burger King to Open First Whopper Bar in February Oct 7 - Burger King Holdings Inc plans to open six to twenty "Whopper Bar" restaurants worldwide over the next year and a half, with the first to open in February next year, the Wall Street Journal said quoting a company executive.

New Zealand: Prolife Foods Acquires Cadbury's Mother Earth Brand 7 October 2008 - Prolife Foods Ltd has acquired the brand and assets of Mother Earth snack foods from Cadbury Confectionery Limited for an undisclosed sum. The Hamilton-based company has plans to expand Mother Earth's existing range and take the brand into new categories.

Kraft Confirms 400 Jobs to Go in North America 7 Oct, 2008 – Kraft Foods Inc has confirmed it is to cut 400 jobs from its North American operations in a bid to reduce costs.

Russian Retailer Magnit 9-mth Sales Rise 51 pct Moscow, Oct 7 - Russian food retail chain Magnit said on Tuesday its nine-month net retail revenue rose by 51.4 percent in dollar terms to $3.86 billion, helped by new store openings.

Czech Authorities Impound Indian Guar Gum Batch Contaminated with PCP 7 Oct, 2008 – Food safety officials in the Czech Republic have detained a shipment of Indian guar gum after tests revealed it contained illegal levels of pentachlorophenol (PCP).

US: FDA Detects Melamine Contamination in Flavoured Drink 7 Oct, 2008 - The U.S. Food and Drug Administration (FDA) has increased inspections and product testing efforts in response to the melamine contamination problem which originated in Chinese dairy products. As a result of the FDA's on-going testing program, the agency has detected melamine contamination in Blue Cat Flavor Drinks.

Colruyt Acquires 100% of the French SODEGER Group On the 6th of October Colruyt Group acquired by its French holding SA Colruyt France 100% of the shares of the French SODEGER Group.

Burundi Tea Earnings Rise 62 pct on Low Supplies Bujumbura, Oct 7 - Burundi's tea export earnings grew 62 percent in the first nine months of the year, boosted by low supply of the crop, a tea board official said on Monday.

Prosecutors Seek 13-yr Sentence for Parmalat Ex-CEO Milan, Oct 7 - Italian prosecutors sought a 13-year prison term for the former head of Italian food company Parmalat SpA on Monday over its 2003 collapse in one of Europe's biggest financial scandals.

Finland Recalls Chinese Sweets as a Precaution Helsinki, Oct 7 - Finland has withdrawn Chinese Koala biscuits and White Rabbit sweets from the market as a precaution, Finland's Food Safety Authority said on Monday.

China Says Latest Testing on 75 Liquid Milk Brands Showed No Melamine Traces 7 October 2008 - China's General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) communicated today the results of its latest sampings on liquid milk in the domestic market.

USDA Economist Sees Slowdown in Food Inflation London, Oct 7 - Food price inflation may decline slightly in the next year but is likely to remain above projected long-term levels, U.S. Department of Agriculture chief economist Joseph Glauber said on Monday.

Vietnam to Double Rice Exports in Q4 to Meet Target Hanoi, Oct 7 - Vietnam is expected to double its rice exports in the last three months of this year from a year ago to 1 million tonnes to meet its full-year export target, an industry official said on Tuesday.

Northern Foods on Track to Meet Full-Year Forecasts London, Oct 7 - British food manufacturer Northern Foods Plc is on track to deliver full-year pretax profit in line with expectations after delivering a 3.9 percent rise in first-half underlying sales, the group said on Tuesday.

Anheuser-Busch Schedules Vote on InBev Takeover Los Angeles, Oct 7 - Anheuser-Busch Cos Inc investors on Nov 12 will cast their votes on its planned merger with InBev NV, according to a filing with the U.S. Securities and Exchange Commission on Monday.

Mrs Fields Gets Court Nod for Reorganization Plan New York, 7 Oct, 2008 - Cookie and frozen yogurt company Mrs. Fields Famous Brands LLC has won court approval for its Chapter 11 reorganization plan, which gives it a $10 million, three-year senior term credit facility to fund operations.

Del Monte Foods Company Completes Sale of Seafood Business, Including StarKist, to Dongwon

Wal-Mart Sticks by Growth Plan for Americas Unit New York, Oct 6 - The U.S. economic slowdown is not crimping Wal-Mart Stores Inc's expansion plans in Mexico or the other American markets where it operates outside of the United States, a top executive said on Monday.

Wrigley Completes Merger with Mars

Dr Pepper Snapple Announces Expected Loss of Monster Energy Drink Distribution Agreements Plano, Texas, Oct. 6 - Dr Pepper Snapple Group today said it expects to receive formal notification from Hansen Natural Corporation terminating its agreements to distribute Monster Energy as well as its other beverage brands in certain U.S. markets.

National Foods and Fonterra Announce Agreement on Ski Yoghurt Brand 7 October 2008 - National Foods and Fonterra today announced that they have entered into a heads of agreement for Fonterra to acquire the SKI licence and associated intellectual property from National Foods should National Foods successfully acquire Dairy Farmers.

Monday's Headlines 06/10/2008

Hungary: Melamine Detected in Chinese Restaurants and in Nestle Product Budapest, 6 Oct, 2008 – Traces of melamine have been discovered in products in a number of Chinese restaurants in Hungary, food safety official said today. It was also confirmed that melamine tainted Nestle products discovered at the weekend would be tested further.

Interstate Bakeries Files Amended Plan of Reorganization and Disclosure Statement Kansas City, 6 Oct - Interstate Bakeries Corporation (IBC) announced today that it filed an amended Plan of Reorganization and related Disclosure Statement with the U.S. Bankruptcy Court for the Western District of Missouri on October 4, 2008.
<br>
<br>

US Still Sees Chance for Doha Breakthrough in 2008 Washington, Oct 6 - The Bush administration still sees a chance for a breakthrough in world trade talks this year, a top U.S. trade official said on Monday, adding that would give troubled world markets a much-needed boost.

Latin America Currency and Stock Markets Plummet Buenos Aires, Oct 6 - Latin American currency, stock and bond markets disintegrated in opening trade on Monday on fears over the mushrooming global financial crisis.

EU Approves Acquisition of Hercules by Ashland Brussels, Oct 6 - Ashland Inc, which makes chemicals and Valvoline motor oil, won permission from EU competition authorities on Monday to buy Hercules Inc in a deal that would significantly boost its product offerings.

Heineken Gets Irish OK for Beamish Buy; CEO Worried by Rising Input Costs 6 October 2008 - Heineken has announced that it has received unconditional approval from the Irish Competition Authority regarding its acquisition of Beamish & Crawford.

US Government Seeks US$195,000 Fine from Pepsi-Cola and National Brand Beverages over Alleged Safety Breaches Pennsauken, N.J., 6 Oct, 2008 - The U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) has cited Pepsi-Cola and National Brand Beverage Ltd. of Pennsauken with $195,000 in proposed penalties for alleged workplace safety and health violations.

Expectations for Royal Unibrew's Results for 2008 05 October 2008 - Elaboration on Company Announcement No 31/2008 of 29 September 2008.

Coffee, Sugar Fall More Than 3 pct as Funds Sell London, Oct 6 - Coffee, sugar and cocoa futures fell to their lowest levels in months on Monday on further fund liquidation as the global financial markets crisis spiralled, and prices could fall further, dealers said.

China Vows Clean Up of "chaotic" Dairy Sector Beijing, Oct 6 - China's dairy industry suffers from chaotic production and lax oversight, the government said on Monday, announcing toughened rules after tainted milk products left thousands ill and shook confidence in "made-in-China."

Deutsche Bank Cuts Coca Cola to Hold Oct 6 - Deutsche Bank cut its rating on beverage company Coca Cola Co to "hold" from "buy," citing lower volume expectations, lower equity income and increasing currency headwinds.

Iran Bans China Dairy Goods on Contamination Fears Tehran, Oct 6 - Iran has banned imports of Chinese dairy products as the health scandal over toxic milk continues at home and abroad, the Kayhan newspaper said on Monday.

France: Fire Contained at Roquette Starch Plant in Lestrem 6 October 2008 - A fire broke out at Roquette's starch plant in Lestrem (Pas-de-Calais department) on Thursday evening but was quickly contained by firefighters.

Weak Exports Plague Asian Vegoils, Defaults Eyed Kuala Lumpur, Oct 6 - Most Asian vegetable oil markets, long suffering from oversupply, slumped by their limits down on Tuesday as growing signs of a slowing global economy spurred investors to sell, and export demand to falter.

Kraft Expected to Announce Several Hundred Job Cuts in North America 6 Oct - Kraft Foods is expected to announce several hundred job losses this week in its North American operations as part of a company-wide cost-cutting exercise.

Scan Acquires Interest in Swedish Convenience Food Company Oct 1, 2008 - Scan AB, the company responsible for the HKScan Group's Swedish operations, has acquired a 15-percent minority holding in convenience food producer Matfabriken i Skandinavien AB.

India: McLeod Russel Unit to Buy Vietnamese Company for $2 mln Mumbai, October 03, 2008 - Tea producer McLeod Russel India Ltd said on Friday its unit has agreed to buy Vietnam's Phu Ben Tea Company for $2 million.

Tanzania Tea Output Seen 13 Percent Up in 2008/09 Dar Es Salaam, October 03, 2008 - Tanzania expects its tea harvest to rise by 13 percent year on year to 37 million kg in the year to June 2009 due to good weather and more plantings, the head of the country's Tea Board said on Friday.

China to Issue 2009 Sugar, Wool Import Quotas Beijing, Oct 6 - China will issue low-tariff quotas for imports of 1.945 million tonnes of sugar and 287,000 tonnes of wool in 2009, unchanged from this year, as part of its commitment to the World Trade Organisation.

Coke Nears U.S. Distribution Deal with Hansen - Report New York, Oct 6 - Coca-Cola Co and Hansen Natural Corp are close to a distribution deal for Monster energy drinks, expanding Hansen's reach across the United States, industry publication Beverage Digest reported on Friday.

Cook Frozen Chicken Entrees Properly, USDA Urges Washington, Oct 6 - The U.S. government on Friday urged consumers to follow package cooking instructions after 32 people in 12 states got Salmonella poisoning after eating frozen stuffed chicken entrees that were raw but breaded.

EU Set to Serve up Protection for British Pork Pie London, Oct 6 - After a 10-year battle, a pork pie from an English market town will take its place alongside champagne and Parma ham as a protected European regional product.

Kirin Milk Tea Withdrawn in Australia on Melamine Worry Sydney/Tokyo, Oct 6 - Australian importers have begun withdrawing Kirin Milk Tea made in China after Australian test results showed levels of melamine in the product available in Australia, Food Standards Australia New Zealand (FSANZ) said.

South Korea Finds Melamine in 10 China-made Products Seoul, Oct 6 - South Korea's food watchdog said on Monday it had found melamine in 10 Chinese dairy products and ordered them to be taken off shelves.

China Detains Six Suspected in Milk Scandal Beijing, Oct 6 - Chinese police have detained six people suspected of producing and selling melamine, the chemical at the centre of the country's scandal over tainted dairy products, the official Xinhua news agency said.