Fonterra has reported an earnings before interest and tax (EBIT) increase of more than 25% for the first half of fiscal year (FY) 2013 – a result it has attributed to sales volume growth from its NZ Milk Products business, Asia, and Latin America.
Following a highly successful inaugural summit last week, organisers William Reed Business Media have confirmed that Food Vision will become an annual event, returning to Cannes, France, in March 2014.
According to Pierre-Alain Ceralli, Firmenich’s vice-president for flavours in China, the country now represents 20% of the total flavour industry’s potential. Furthermore, as China transforms its economy from export-led GDP to a domestic-led economic...
With its China business approaching its first half-anniversary, global premix supplier LycoRed has been recruiting senior business development staff for its food and beverage fortification business in the country.
Increasing Fonterra-dominated New Zealand’s access to the US dairy sector through on-going Trans-Pacific Partnership (TPP) Free Trade talks would be “damaging” to producers and processors in the country, a coalition of farmer organisations has claimed.
Some say it was sneaky, others say it was shrewd, but whatever the motivation, the latest stunt by Coles against its super-rival Woolworths has set the cat among the pigeons in the battle for Australian supermarket supremacy.
New Zealand’s Taura Natural Ingredients plans to launch a new range of concentrated fruit pieces for bakery and foodservice operators in Asia. The products will fit in the premium category and will be specific to the niche.
Eager to move forward with supplying the fast-growing Asian market, food technology major FMC has broken ground on its major new microcrystalline cellulose (MCC) manufacturing facility in Rayong, Thailand, through which FMC expects to increase its global...
Warrnambool Cheese and Butter Factory (WCB) and Kraft Foods Australia have announced the start of a long-term partnership under which Kraft will produce specially formulated cream cheese under WCB's Sungold brand.
China will become Hershey’s number two market behind the US in the next five years and will get there through advertising, expanding distribution and new launches, according to the company’s CEO.
Japanese beverage group Kirin has agreed to sell its domestic food flavouring unit, Kirin Kyowa Foods (KKF), to Mitsubishi Corporation for a reported ¥30.5bn (US$321m).
A longstanding vitamin C price fixing case has reached conclusion with a $162 million judgment in the case involving four Chinese companies. While its a victory for the concept of private enforcement, it doesn’t mean cartel behavior by Chinese companies...
Sri Lanka looks destined to build the world’s largest polyethylene terephthalate (PET) packaging resin plant with an investment of over US$500m dollars.
US FIRM ACCUSES CHINESE ARMY OF GLOBAL IP CYBER ATTACKS
Chinese authorities have accused Coca-Cola China of illegally mapping parts of Yunnan Province, while a high-profile US cyber-security company alleges that the People’s Liberation Army (PLA) is behind at least 115 cyberattacks on US firms, and three foreign...
Beam Inc. insists to BeverageDaily.com that Teacher’s remains the bestselling Scotch Whiskey brand in India, despite press reports suggesting it has lost that position to Pernod Ricard’s 100 Pipers in the wake of Beam’s ongoing probe into potential local...
International Flavors & Fragrances (IFF) has opened a new flavors facility in Guangzhou, China, as part of a $100m investment in Greater Asia as it looks to increase its presence in emerging markets.
Costs relating to the establishment of the a2 Milk UK joint venture contributed to a H1 profits decrease for Australasian dairy processor A2 Corporation (A2C), the company has revealed.
Almost exactly a year ago, Cadbury India was showing off its position as the country’s fourth most admired company, according to Fortune magazine; but today the chocolate major is preparing to fight accusations from tax authorities that it had deliberately...
Nufarm’s rocky start to 2013 continues with the Australian manufacturer and distributor of crop protection products announcing the end of its second long-term deal with a global agricultural company in three months.
Carlsberg says it is taking an ‘important step forward’ in China with a $466m offer for a controlling stake in Chongqing Brewery Company (CBC), in a move to double the number of native breweries it directly controls.
The transition to a polled cattle herd–or one without horns–could soon be even faster with a new, highly accurate poll gene marker test from Australia that is due to become available this year.
Niutang Chemical, China’s leading producer of sucralose and aspartame, has announced that its core product lines of folic acid, TGIC, sucralose and aspartame saw an 18% increase in sales. As a result of this sustained growth, the company will begin construction...
The Indian Competition Commission (CCI) has approved Diageo’s purchase of a 53.4% stake in United Spirits (USL), saying that the £1.28bn ($2.04bn) purchase may boost the nation’s premium spirits market and improve consumer choice without jeopardizing...
INDUSTRY VOICES: GUEST ARTICLE, HEAD OF AKTIEFOKUS CHINA, JACOB DE LICHTENBERG
After a quiet beginning to 2013, M&A activity is heating up in China’s beer market, as Carlsberg said on Monday it was considering upping its stake in Chongqing Brewery, intensifying the fight among global brewers for production assets there.
With reports flooding the wires that Heinz has agreed to sell its Chinese frozen food business, Long Feng Food, to Zhengzhou Sanquan Foods marks the second time in a decade the American major has lost money on a deal in the country.
Fonterra will invest more than NZ$100m ($82.4m, €62.8m) in a new ultra-high temperature (UHT) milk and cream processing plant in New Zealand in an attempt to meet growing Asian demand for heat-treated dairy products.
It is hard for a food industry trade show to pack the same level of glamour as, say, the Tokyo Motor Show, so it’s probably best for organisers not to try. But every now and again, in a moment of wild abandon, a celebrity or sports star graces a show’s...
Associated British Foods – worst-in-class in an Oxfam report critical of 10 food giants for essentially operating under a corporate social responsibility (CSR) “veil of secrecy” – has hit back, slamming the report ‘s findings as “ridiculous”.
Teams from both the European and Asian editions of FoodNavigator are on the ground at Gulfood 2013 in Dubai, a food, processing, packaging and ingredients show which, according to its blurb, claims to be the biggest in the world.
The rapid change in India’s food consumption habits has spurred domestic and foreign quick service restaurant (QSR) chains to implement aggressive expansion plans. And according to a new Rabobank report, this growth is set to accelerate.
Just got off the phone to Ola Snove, the new(ish) CEO of Aker part-owned Norwegian omega-3 specialist Epax. Wanted to know his view on high-end omega-3 prospects that have attracted BASF and DSM to the sector. His word: “Stellar”.
Southern Israel-based algae-sourced astanxanthin specialists Algatechnologies has won investment from a UK venture capitalist in a move that will broaden its capacity, R&D and distribution scope for the eye and skin health carotenoid.
By Theo Spierings, CEO of Fonterra Co-operative Group
Last week, we published a critique of Fonterra's actions during the DCD furore, which saw lengthy delays between identifying the presence of minute quantities of the chemical in the company's milk. Having requested a right to reply, Fonterra's...
Heineken said today it is reviewing its non-core European businesses that don’t focus fully on beer, and asking whether its ownership of such assets makes strategic sense.
The Coca-Cola Company insists it remains confident in the long-term resilience of its Chinese business, despite a 4% slump in volume sales during the last quarter of 2012.
Diageo is in an arguably stronger market position than multinational peer SAB Miller due to its core exposure to spirits rather than beer, according to one City analyst who covers the firm.
The latest financial results by two of India’s spirits giants makes for fascinating reading and gives a real insight to casual observers as to the state of the drinks industry in the country.
Forbes Medi-Tech has signed a three-year licence and supply agreement to grant Del Monte Pacific with exclusive rights to manufacture and sell food and beverages featuring the Reducol name across the Philippines, South Asia and Myanmar.
Carlsberg today formed a JV with a Burmese brewer to produce and market its brand portfolio, and told BeverageDaily.com the nation offered 'huge growth potential' in an under-penetrated beer category.
Dunkin' Donuts has announced that it has signed a franchise agreement to develop the brand in Vietnam. The move comes only shortly after coffee-and-baked-goods rival Starbucks revealed details of its own move into the South-east Asian country.
