Heinz is on the look out for takeover targets in Australia and New Zealand following the success of the Cottee’s* brand which was purchased from Cadbury last year - according to Mike Milone, head of Heinz Australia and New Zealand. “We’re always looking for similar opportunities in both countries or tied into larger corporate deals,” Mr Milone said yesterday at an analyst and investor meeting in New York. “The recent Cottee’s acquisition provided entry into a... ...Read more »
South Korea’s Agriculture Minister, Chung Woon Chun, has told a Korean television audience that the market for US beef will officially open next week. The minister sent a request to the Ministry of Administration to print the final protocol yesterday and this is usually a two to three day process. The issue of US beef imports has caused heated debate in South Korea with protests a common occurrence in the wake of the initial announcement back in April. South Korea banned US beef imports... ...Read more »
Agricultural commodity prices should ease from recent record peaks but over the next 10 years they are expected to average well above their mean levels of the past decade, according to the latest Agricultural Outlook from OECD and the UN Food and Agriculture Organization (FAO). OECD Secretary-General, Angel Gurría, is pleading for the breaking down of trade barriers with restrictive trade practices likely to cause greater distress. “The way to address rising food prices is not through protectionism... ...Read more »
Over 50 of Australia’s most respected chefs have signed their names to a charter opposing GM food. The ‘GM Free Chefs Charter’ has garnered great support, with more than 50 well-renowned chefs indicating their opposition to selling genetically modified (GM) food in their restaurants. The Chefs Charter is an initiative of Greenpeace and was recently unveiled at Jared Ingersoll’s Danks Street Depot, attended by chefs from some of Sydney’s top restaurants. Among the names... ...Read more »
Peak retail body, the Australian Retailers Association (ARA), has urged the Rudd Government not to ‘wash their hands’ of the issue of grocery prices and look at other avenues to reduce costs for retailers - in particular - occupancy costs. ARA’s Executive Director, Richard Evans, said while petrol prices are obviously having an effect on the cost of goods going to market, the Rudd Government has been slow to release the Productivity Commission’s report on retail leasing... ...Read more »
The US restaurant industry is taking a hit as economic struggles plague the country. New consumer research from Mintel reveals that 54% of people who dine out regularly are restricting their restaurant spending because of economic worries. Rising gas and food prices, home foreclosures and a fear of recession have caused many Americans to curb out-to-eat spending. Seventy per cent of those attempting to cut back are saving money by going out to eat less, rather than by choosing cheaper... ...Read more »
As major Australian supermarkets continue their push away from nationally advertised brands toward private labels, UK retailer Marks & Spencer, the quintessential private label retailer, has tentatively reversed the trend by committing to using branded products for the first time. The famous UK institution has announced that they will trial an offering of around 350 branded products in 19 of their stores in June. “This trial aims to offer customers greater convenience but not... ...Read more »
A strike by German dairy farmers began on Tuesday with farmers refusing to supply milk to factories in response to falling farm gate prices, the German Federal Association of Dairy Cattle Farmers (BDM) said in a statement. The boycott, orchestrated by the 30,000 strong BDM, is in response to anger about farm gate prices falling by about 15 per cent this year. BDM data indicates that north German dairy farmers currently receive approximately 27 Euro cents per litre of milk supplied with their... ...Read more »
The Victorian Farmers Federation (VFF) is calling for Country of Origin labelling to be strengthened as the Senate Inquiry into Meat Marketing in Australia continues. Country of Origin labelling is a concept which has already been witnessed in the seafood industry but other the meat industry has not been subject to similar laws. As a result the Senate initiated an inquiry by the Standing Committee on Rural and Regional Affairs and Transport into meat marketing in March this year. The inquiry... ...Read more »
Retailers, including Coles and Woolworths, are working with the Office of Fair Trading to identify a brand of tongs which is believed to be the possible cause of metal found in food products around Australia in recent months. A joint national police investigation led by the Queensland Police Service in conjunction with Queensland Health and other State Health Authorities was carried out in relation to the matter. The investigation established that there was no evidence of criminal activity or poor... ...Read more »