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Showing 20 results out of 10000
News

USA: Montie named president of Kellogg morning foods division

Jeffrey W. Montie has been promoted to president of Kellogg USA's newly created morning foods division. The division includes ready-to-eat cereals, Pop-Tarts brands and ethnic business development. Montie joined the Kellogg Company (NYSE: K) in 1987 as a brand manager and spent seven years in the U.S. ready-to-eat cereal business. He also had assignments in Canada, South Africa and Germany and served as vice president, global innovation for Kellogg Europe. Before assuming his new responsibilities, Montie had served as senior vice president and general manager of ready-to-eat cereal for Kellogg USA.

News

USA: Agrifrozen to close facilities in Oregon and Washington

AgriFrozen Foods announced yesterday that it is closing its frozen vegetable business facilities in Woodburn, Oregon and Walla Walla and Grandview, Washington. This announcement follows the recent decision by AgriFrozen's board not to plant or process crops for the 2001 growing season.

News

EU: Blue tongue disease yields aid for Sardinian sheep sector

The European Commission has approved the payment of €67.1m by the Italian government, to help the Sardinian sheep-meat sector recover from an outbreak of Blue Tongue disease, (ovine catarrhal fever), that swept the island last year. Producers were hit by movement restrictions, additional feed costs and slaughtering orders.

News

EU: Commission considers least developed country trade package

EU Trade Commissioner Pascal Lamy has been given authority by the full European Commission to draw up a final import regime package, which would grant the world’s poorest 48 countries the right to sell their products in the EU both duty free and with no quota restrictions. The plan has been held up over concerns about the loss of tax revenue and as a result, Lamy’s final plan is expected to include proposals to liberalise tariffs and quotas for bananas between 2002-6 and for sugar and rice between 2006-8. It will need approval from the EU Council of Ministers to go into affect and is being framed independently of the current WTO round on agriculture.

News

SRI LANKA: Sri Lankan coconut prices in freefall

Sri Lankan coconut producers are reeling from a freefall in price for their commodity, quoting prices of between  Rs (SL) 3,000 to Rs. (SL) 3,500 per thousand nuts, down from Rs (SL) 11,000 in early 1999. As a result, producers are resorting to various cost cutting methods, including abandoning fertilizer, which has soared in price.

News

EU: Final agreement on additive directive reforms

EU ministers have approved the final shape of reforms to the 1995 directive on food additives other than colourings and sweeteners, accepting a European Parliament amendment that banned the use of sodium alginate in pre-packaged raw peeled carrots, which prevents them turning white and soft. MEP’s claimed that the additive could be a laxative and could be used to make carrots look fresher then they were in reality. The final package also authorises the use of hydrogen (E848) and zinc acetate (E650). It allows the use of "some food additives, which are currently forbidden, but have recently been evaluated by the Scientific Committee of Food and found acceptable for human consumption."

News

ISRAEL: Blue Square in strategic JV with Casino to boost private label

Blue Square , one of Israel's leading food retailers, is in advanced negotiations with the French retailer Casino for a strategic partnership, according to Globes News. According to the pending agreement, and based on a memorandum of understanding, Blue Square will initially receive a franchise for the private label of Casino's subsidiary,

News

USA: Hormel Foods to acquire the Turkey Store Company

Hormel Foods Corporation (NYSE: HRL), one of the nation's largest manufacturers and marketers of consumer-branded meat and food products, today announced it has reached a definitive agreement to acquire The Turkey Store Company, headquartered in Barron, Wis. Hormel Foods will purchase all of the outstanding shares of The Turkey Store Company for $334.4 million in cash, subject to adjustment for outstanding indebtedness and changes in working capital at closing. This is the largest acquisition in the history of Hormel Foods Corporation.

Features

Functional Food: Meeting the Marketing Challenge (PART TWO)

Increasingly, consumers are making the link between food and health, and functional foods have been key beneficiaries of this trend. Cholesterol-lowering, fat-busting or probiotic foods have boomed in recent years, but many products are encountering serious obstacles in reaching a mass market. Consumers find them expensive and confusing, and general acceptance is a long way off. How can manufacturers communicate to consumers that functional foods are worth paying for? In the second of a two-part feature, Rajiv Desai reports.

News

UK: Marks and Spencer sales down like for like, but food operations show improvement

Like-for-like food sales at British high street retailer Marks & Spencer have risen 2.1% for the 16 weeks to 20 January, showing some improvement on last year. General sales have fallen a further 9.6% like-for-like however, confirming the worst expectations of critics and forcing further re-evaluation of the store's clothing, gift, and home furnishings operations.

News

UK: FAS may investigate Iceland's chief share sale

The UK's Financial Services Authority   (FAS) is considering looking into a £13.5m share sale by Iceland chairman Malcolm Walker after the group issued a profits warning, only six weeks after he sold most of his holding, reports the Daily Telegraph .

News

AUSTRALIA: Biotechnology boost for Australian dairy farmers with Innovative Dairy Products centre

The A$90m Innovative Dairy Products (IDP) centre is due to begin research into cow clones and new dairy products, with the aim of making Australia a world leader in biotechnology. John Watson, chairman of the dairy industry's Co-operative Research Centre (CRC), revealed that IDP will augment the projects currently underway. Among these is the DNA testing to increase the milk capacity and quality of genetically cloned cows. The CRC added A$17m of government grants to the project last week.

News

SWITZERLAND/USA: Nestec gets US patent for nutritional mix

Swiss multinational Nestec has received US patent RE037020 for its 'Method for  providing nutrition to elderly patients. The 'inventors' are all US citizens. Abbott Laboratories is the other group active in this field. Abstract: The present invention provides a method for providing nutrition to elderly patients. Pursuant to the present invention, the enteral composition includes a protein source, a lipid source, and a carbohydrate source. Preferably, the protein source includes at least 18% of the total calories. In an embodiment, the carbohydrate source includes a source of dietary fiber including a balance of soluble to insoluble fiber ratio of approximately 1:3. Still further, the composition of the present invention also includes increased levels of certain vitamins and minerals.

News

NETHERLANDS: Questions over future of Recipeweb.com, with funding scarce

The soufflé has sunk at Dutch dotcom Recipeweb.com , after it revealed that the necessary next round of funding, totalling €2.5m, is not forthcoming, and the online recipe publisher was facing bankruptcy. Recipeweb.com organised investment commitments totalling €1.5m, but without the remaining dough the company cannot keep afloat. A deadline of 28 February was given to find the funds after a court granted temporary protection from creditors earlier this month.

News

INDONESIA: Government to spend US$21m on coffee

Indonesia plans to provide 200bn rupiah (US$21.4m) to buy coffee beans as part of a global plan by growers to restrain exports and boost prices. The country, the world's fourth-largest coffee producer, will buy as much as 40,000 metric tons of beans by August, or one-fifth of the expected production of 200,000 tons expected in the 11 months to Aug. 31, the Ministry of Agriculture announced.

News

USA: Corn Products International, Inc. confirms fourth quarter and yearend 2000 results

Corn Products International, Inc. (NYSE: CPO) today reported 2000 earnings at $1.72 per fully diluted share before a special charge, compared to a restated $1.98 per share for 1999. This is consistent with the Company's expectations disclosed in its January 10, 2001, press release after a change in US inventory accounting to first in-first out (FIFO) from last in-first out (LIFO) that sets uniform inventory valuation throughout the entire Company. This change resulted in an increase by $0.02 per share in 2000 and a decrease by $0.08 per share for the restated 1999. After the special charge of $0.37 for workforce reduction recorded in the first quarter, earnings were $1.35 per share for the year, down from $1.98 per share as restated for 1999.