Blog: Wheat prices leave industry with plenty to chew over
Dean Best | 3 August 2010
Wheat prices fell back a touch today (3 August) following the announcement from Russia, one of the world's major exporters of the commodity, that it would not restrict exports even amid one of its worst droughts in a century.
The price of wheat dipped today after climbing to a 22-year high yesterday, fuelling fears of rising costs for food manufacturers and higher shopping bills for consumers.
Despite the dip in price, the cost of wheat will be a hot topic as Premier Foods plc, the UK's largest food maker and owner of Hovis bread, reports its half-year results to the market tomorrow.
Shares in Premier fell today as the market prepares to hear the latest from a company that saw sales slide 5% in the first quarter of 2010. Some in the City believe Premier will not have much more good news to share.
Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...
Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
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