FRANCE: National assembly commission rejects palm oil tax increase
The French national assembly's social affairs commission has rejected a proposal to increase a special tax on palm oil from EUR100 (US$129) to EUR300 per tonne.
The so-called 'Nutella amendment' had been initiated by the French Senate and justified on the grounds of promoting healthier eating and combating obesity.
It was to have formed part of a bill containing a raft of tax measures - other products targeted being beer and energy drinks - designed to reduce France's social
A Senate spokesperson told just-food the commission's decision effectively spelt the end of the amendment.
The Assembly will next week give the bill its second reading, without the Nutella amendment, before being forwarded to the Senate.
"Even if the Senate rejects the bill again, the Assembly always has the last word and the final vote," the spokesperson added.
Last week, Ferrero published an ad in France's national press defending its use of palm oil in chocolate spread Nutella.
Ferrero France is expected to maintain its leading position in confectionery and spreads, thanks to its strong brands, high reputation and wide consumer base. The company is forecast to develop new re...
- Analysis: Is Heinz, Kraft merger "a growth story"?
- McDonald's antibiotics move may be seminal moment
- M&A Watch: Who could be on 3G Capital's radar?
- Viewpoint: Faber-led Danone gets realistic
- Green Giant talk underlines pressure at Gen Mills
- UPDATE: Heinz, Kraft strike merger agreement
- Kraft "in buyout talks" with Heinz owner 3G
- Heinz to cut 71 jobs at UK plant
- Infographic: Heinz, Kraft unveil combined business
- Buffett: Kraft Heinz to withstand health focus