The fall-out from the melamine scandal in China rumbled on this week, with claims that Sanlu Group, the Chinese dairy at the heart of the scare tried to cover up the outbreak when it first emerged. Sanlu’s venture partner, New Zealand dairy giant Fonterra, slammed the Chinese firm for its conduct and said it had become more wary of investing in the market.
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Elsewhere, Carrefour, the French retail giant appeared to have no such qualms about investing in emerging markets, with news of investment in Russia and Colombia.
These are the top ten stories on just-food this week.
CHINA: Sanlu’s handling of melamine scare “appalling” – Fonterra
New Zealand dairy giant Fonterra cut the value of its investment in China’s Sanlu Group by nearly 70% today (24 September), reflecting the damage done to the brand by the melamine scandal.
CHINA: Sanlu attempted to “cover up” contamination
Chinese dairy Sanlu Group knew about the contamination of its milk powder for eight months before telling authorities, a state investigation has found.
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By GlobalDataCOLOMBIA: Carrefour looks to acquire Mercadefam
French retail giant Carrefour has formed a strategic alliance with Colombian retailer Mercadefam with a view to acquiring the company, a spokesperson for Carrefour has told just-food.
RUSSIA: Carrefour confirms US$100m investment
French retail giant Carrefour has confirmed its plans to invest up to US$100m over the next five years to develop a hypermarket business in the Krasnodar region in southern Russia.
US/SWITZ: Hershey shares up on Nestle talk
Shares in US confectionery giant Hershey closed more than 4% up in New York yesterday (22 September) amid rumours of a possible tie-up with Nestle.
For why Cadbury could be a better partner for Hershey than Nestle, click here for the just-food blog.
UK: Retail probe “finds evidence of price sharing”
An investigation conducted by the UK’s Office of Fair Trading has reportedly uncovered evidence of price sharing between the country’s largest supermarkets and consumer goods companies.
UK: Tate & Lyle plunges on patent case loss
Shares in UK ingredients company Tate & Lyle plunged in morning trade today (23 September) after the company revealed that it has lost its US sucralose patent-infringement case.
US: Wal-Mart prepares first Marketside openings
US retail giant Wal-Mart has confirmed that it will open its first Marketside test stores at the beginning of October.
UK: Waitrose, Booths form buying alliance
UK retailers Waitrose and Booths have announced plans to form a buying alliance.
INDIA: Metro Cash & Carry in licensing row
German wholesaler Metro Cash & Carry has threatened to revise its investment plans in India after becoming embroiled in a dispute over the opening of its first store in West Bengal.
