Hostess Brands, one of the largest bakery groups in the US, last week moved to wound down the company, blaming striking workers. Elsewhere, Diamond Foods' CEO, once the boss of Hostess, insisted the Kettle Chips firm was heading in the right direction after a year of turmoil. In Europe, food giants insisted their move to harmonise nutrition labels would benefit consumers, while in the UK, exporters were urged to target China.

"We deeply regret the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike" - Hostess Brands CEO Greg Rayburn explains why the US baker has moved to wind up the company.

"Clearly, the results for the first three quarters of 2012 demonstrate that Diamond faced challenges. However, we have a strong brand portfolio to build upon and have launched a new strategic direction with a focus on investing in innovation and brand building, significantly improving our cost structure and rebuilding our walnut supply" - Diamond Foods CEO Brian Driscoll, a former chief executive of Hostess Brands, says the US snack firm is heading in the right direction after a year of turmoil.

"The opportunities in the Asian markets are largely untapped by UK companies and China cannot be ignored," Sandra Sullivan of the UK Food and Drink Export Association urges the country's companies to target the world's second-largest economy - now.

"The commitment will ensure consumers have access to consistent, meaningful nutritional information on products" - twelve food giants, including Nestle, General Mills and Kellogg, insist their pledge to "harmonise" nutrition labels will benefit EU consumers.

"Contrary to popular belief and certain opportunist statements, within the framework of a balanced diet, palm oil is not a danger to health" - Ferrero takes to France's newspapers to defend its use of plam oil in Nutella as the country's politicians mull a hike in tax on the ingredient.

"We continue to win on the things that matter for consumers," Sainsbury's chief executive Justin King reflects on the UK retailer's half-year results, which saw it reach its highest market share for a decade.

"All together the sector is growing significantly and we will be reaching an export total of US$1bn in the next years" - Karl Samsing, president of the Chilean Walnut Commission, outlines the export target for the entire food sector in the country.