Volactive, the functional foods arm of milk replacer company Volvac
International, will use the FiE exhibition to promote its latest
heat stable whey protein isolate.
Belgian retailer Delhaize today confirmed that it has reached a
binding agreement to sell its 49 per cent shareholding in the
Singapore food retailer, Shop N Save, to Singapore retailer Cold
Storage Singapore for SGD 44.1 million...
Facing up to the current challenging economic climate Danish
ingredients company Chr Hansen last month lifted previous profit
forecasts for the year on the back of decent ingredients growth and
higher exchange rates. Next week at...
Wal-Mart has announced a significant jump in sales for the third
quarter driven largely by its European and South American
operations. In the UK the group's Asda division has continued its
success with strong store sales growth...
Kwik Save continues to weigh down the performance of UK retailer
Somerfield, but second quarter and half yearly results reveal that
the margins are closing. Will Kwik Save turn the corner or will it
continue to hold Somerfield back?
Higher raw material costs continue to eat into margins for National
Starch, the starch ingredients arm of ICI, as third quarter figures
bore out last month. It comes as no surprise this week that the
company announced a 'redesign'...
Nestlé continues to pursue its strategy of getting a foothold in
just about every food market in the world. The recent purchase of
Ukrainian food processor Volyn Holding is the latest in a list of
acquisitions designed to cement the...
Measures to support the sustainable development of Europe's olive
oil crops find their roots in reform to the EU's Common
Agricultural Policy (CAP) cleared in June. The Commission is
working on new rules to take this further...
In a transaction that aims to provide Hungarian shoppers with a
wider variety and cheaper prices, the European Bank for
Reconstruction and Development and Raiffeisen Zentralbank
Oesterreich have arranged a €160 million loan to finance...
The European Commission has put forward a range of proposals
designed to harmonise the rules on adding vitamins and minerals to
foods - a long-awaited piece of legislation which will make it much
easier for many producers of such...
Measures to soften the impact of poor cereal harvests in Europe and
boost the grain market were introduced by Europe's agriculture
commissioner this week.
Increasing consumer awareness linking high consumption of trans
fatty acids to a rise in the risk of coronary heart disease is
driving the market for alternative ingredients.
Tesco has announced that it has gained control of Kipa, a small
Turkish hypermarket chain by acquiring the necessary majorities of
the unlisted public shares in the company. The move will ensure a
much needed foothold in a market...
On the back of robust results US agri-giant ADM posted its 288th
consecutive quarterly payment this week, declaring a cash dividend
of six cents a share.
Tesco is to appeal against an 'incomprehensible' ruling by the
Czech courts which appears to give a Czech businessman the right to
seize its assets in payment of an alleged debt.
The impact of higher commodity prices on ingredients manufacturers
continues to impact margins. In October figures show that soybean
prices peaked at their highest levels in six years.
Sales for speciality ingredients set first quarter results soaring
for US company MGP Ingredients, offsetting a downturn in figures
for commodity ingredients and in the face of higher energy and raw
material costs.
First half profits for UK sugar and sweeteners group Tate &
Lyle slipped as US figures hit the bottom line but improved results
from European operations helped add sparkle to a generally
lacklustre performance.
Ahold is to sell off its Spanish retail operations as part of a
long-awaited recovery plan announced today. The programme will also
include a €2.5bn rights issue which will help pay down debt, and
significant efficiency savings designed...
Alcampo, the Spanish subsidiary of French retailer Auchan, is to
introduce labelling in Braille on a wide range of its own label
products, joining Auchan's French, Portuguese and Brazilian stores
in offering this service. But...
Tekes, the national technology agency in Finland, is currently
funding an investigation into the use of rare sugar components -
previously deemed as unimportant by-products - as a useful raw
material in food and pharmaceutical industries.
Carmel, Israel's biggest wine producer, is joining forces with six
boutique wineries to mount a joint marketing campaign in the UK and
other important wine markets. The companies will hope to shake off
their kosher-only image...
Belgian retail group Delhaize has raised its growth forecasts for
fiscal 2003 after an excellent third quarter performance hampered
only by adverse currency exchange rates. A rapid turnaround for a
company badly affected by adverse...
The British chomped their way through £1 billion worth of organic
products in one year, making the UK the number three outlet -
behind the US and Germany - for organic foods in the world.
The Big Food Group, owner of the Iceland and Booker chains, posted
a slight improvement in first half sales as it continues to
overhaul the business. Most noticeable was a return to
profitability at Iceland, helped by improved sales...
Leading Irish food ingredients company Kerry brushed off currency
fluctuations and testing market conditions to post a stable set of
figures for the first six months of the year. The following paper
from Irish stockbroker Goodbody...
British Sugar's parent company, cash-rich Associated British Foods
(ABF), delivered a strong set of results for the year with the food
and agriculture division pulling in the highest operating profit
for the full year for the...
Efforts by the Spanish government to counter what it believes are
excessive price increases for a number of fresh products appear to
be paying off, with a sharp fall in price for chicken, seafood,
green beans and lettuce. But other...
NFU president Sir Ben Gill, meeting key European food industry
leaders over the weekend, has called for international co-operation
between farmer-controlled businesses and trust in the food chain.
Western ingredients companies continue to make inroads into the
massive Chinese food market with Danish company Chr Hansen cutting
the ribbon yesterday on new facilities in Bejiing.
Marks & Spencer, the British retail group, has reported first
half sales growth of 4.3 per cent, helped by a 6.9 per cent gain in
the UK food retail business during the period. Food will continue
to play an important role in the...
Spain's retail sector showed solid if unspectacular growth in
September, with sales rising 6.6 per cent compared to the same
period a year earlier. Food was the main driver of growth, with
turnover from this sector ahead 7.7...
Metro, the German wholesale and retail group, is to roll out a
further 40 cash & carry outlets in China over the next five
years, the company's CEO Hans-Joachim Körber is quoted as saying
today. And profitability is not far...
The rolling out of third quarter results today continues with a
slip in earnings for US agri-giant Bunge on the back of weaker
profits sorely felt in the agribusiness division.
Laurus, the Dutch retail group, has made its third set of price
cuts in two weeks, with a further 230 items at the Edah chain
benefiting from the reduction. But the company faces a difficult
few months, trying to find the right balance...
Food and drink producers such as Kristall and Nestlé are suffering
from the ever-rising tide of counterfeit goods in Russia. A recent
survey shows that as much as 90 per cent of the goods bought by
shoppers in Moscow were fake - a...
Metro, the German wholesale and retail group, has scrapped plans to
sell its extensive property portfolio after lengthy negotiations
with the prospective buyer ended in failure. The decision came as
the group announced solid sales...
Pricing pressure hits another ingredients company as leading
Australian yeast supplier Burns Philp sees low margins cutting into
profit for the quarter.
Disappointing figures from flavours company Quest pulled an already
less than dazzling set of third quarter results down further for UK
chemical group ICI hit by a continuing malaise in US and European
sales. National Starch figures...
Ireland has the highest per capita expenditure on alcohol in
western Europe, but while the Irish are certainly fond of a drink
or two, the combination of pub culture and some of the highest
alcohol duties in the whole of the EU are...
Philip Green's Trackdean Investments group has today confirmed that
it will not bid for the Safeway chain, leaving the way clear for
Morrisons to complete its takeover. The government's ruling that
only 53 Safeway stores...
Against a current tough market backdrop for ingredients, Danish
company Chr Hansen is facing up to the challenge, with the dairy
culture specialists this week lifting previous profit forecasts for
the year by €4 million on the back...
In as little as three years' time, older consumers will have become
the mainstream market in the UK, accounting for over half of
expenditure on food, drink and household products - a revelation
that has significant implications...
The addition of 13 new denominations of origin helped lift Spanish
sales of DO food products by 8.1 per cent last year. Cheese is the
biggest single category to benefit from the quality mark -
excluding wines and spirits, that is.
Steady growth for the US and European fruit and vegetables extracts
and powders market - currently standing at €819.9 million ($960M) -
is pitched to reach $1,321 million by 2009. But NPD, price and
product awareness will all be necessary...
Dutch industrial chemicals maker DSM said on Monday its profit in
the second quarter had fallen 75 per cent lower than in the same
period in 2002, as lower sales volumes and falling prices hit the
chemicals market.
Private label products are taking an ever larger share of retail
sales, according to a recent survey by ACNielsen, with the drive
towards more premium products opening the door to a number of
non-traditional private label categories...
Ahold's financial fortunes are going from bad to worse. Already
facing losses of €1bn for 2002, the current year is unlikely to
shape up any better, at least if today's third quarter figures are
to be believed.
