Blog: Oil prices fuel cost concerns
Dean Best | 21 May 2008
All the talk in the food industry may be about rising commodity costs, be it grain, dairy or sugar.
But one cost is rarely mentioned, despite mounting quickly – fuel.
Today, there emerged news that will furrow the brows of many a food industry executive – oil is flirting around US$130 a barrel.
Speculation that China will have to import more fuel in the wake of the Sichuan earthquake, while commodity traders are said to be driving up the price of oil as a hedge against the weak dollar.
Whatever the reason, news of the seemingly ever-rising cost of oil will make sobering reading around food industry boardrooms.
Since Theresa May took over as UK Prime Minister in the wake of the country's referendum vote to quit the European Union, she and her ministers have been at pains not to divulge their negotiating posi...
Greenpeace's long-running campaign against UK tuna brand John West, owned by seafood giant Thai Union, is now directing its fire against Sainsbury's....
The Obama administration appears to have conceded the landmark Trans-Pacific Partnership (TPP) trade deal will not be pushed through in the lame-duck session of Congress before Donald Trump is inaugur...
- Unilever 2016 investor day - the top takeaways
- The key questions for digital strategists in 2017
- Have food promotions reached tipping point?
- ABF on Brexit, M&A and grocery - interview
- Can manufacturers revitalise shopper experience?
- Nestle unveils process to cut sugar by 40%
- General Mills jobs to go in business revamp
- Japan's Nagatanien buys Chaucer Food Group
- B&G acquires pasta sauce group Victoria Fine Foods
- Tyson sets up US$150m investment fund