The European Parliament has called for “immediate and continuous action” to ensure global food security. It believes the aid of €1 billion that the EU has decided to give to developing countries should be accompanied by fresh investment in agriculture and it calls for mechanisms to be set up to ensure that sufficient global food stocks are available. In the space of two years, world food prices have increased by over 80% on average while cereal stocks have fallen in 2008 to a worrying... ...Read more »
The results from the January trading event of Fonterra’s internet-based sales platform, globalDairyTrade, has reflected a continued softening in international dairy prices. The trading manager, CRA International, advised Fonterra that the average price achieved across all products and contract periods for Whole Milk Powder (WMP) was US$2,017 per tonne FAS New Zealand Port - 9.3 per cent lower than for the previous trading event in December. Spot prices rose 1.3 per cent above those for the... ...Read more »
A number of organic producers in the UK have been forced to consider the prospect of losing their certification as high costs and falling demand bite and are looking at ways to sacrifice organic certification for only a short period of time. Organic feed costs for producers are estimated to be about double that of non-organic feed in the UK and some producers are beginning to struggle. Organic Farmers & Growers (OFG) disputed claims from UK newspapers that it has asked for organic standards to... ...Read more »
The European Commission has agreed a Communication that aims to improve the functioning of the food supply chain in order to lower prices for consumers. The prices of food have come down significantly from record levels earlier this year but the underlying causes for the surge in agricultural commodity prices in the medium-term -including regulatory restrictions, insufficient competition and speculation - have not disappeared and must be dealt with.”Food inflation contributed around a third... ...Read more »
Choice, Australia’s largest consumer group, has officially been announced to take over control of the oft-criticised GROCERYchoice website, according to ABC Online. The change will enable more weekly supermarket specials to be shown on the website, as Choice is not as restricted as competition regulator, the ACCC - the current operator of the site. The site launched in August after the ACCC approved its introduction following the Grocery Price Inquiry, but interest has waned - with hit numbers... ...Read more »
Once considered a lower-price, lower-quality substitute for name brands, private label products, or home brands, are now viewed in a more positive light by the majority of American consumers, according to a new survey by The Nielsen Company. Nearly three-quarters (72 per cent) of consumers believe store brands are good alternatives to name brands and 62 per cent of consumers report they consider store brands to be as good as name brands, up three points since 2005. Private label products now account... ...Read more »
Continuing unfavourable conditions and a lack of water kept Australian agricultural production down during 2007-08, according to figures released by the Australian Bureau of Statistics. With laws of supply and demand dictating prices, it does not bode well for some food prices, though there were some favourable figures. Rice plantings dropped to the lowest levels since 1927 - from 20,000 hectares in 2006-07 to 3,000 hectares in 2007-08 - while production was down 86% to 23,000 tonnes. Rice has been... ...Read more »
With Britain facing its sharpest economic downturn in 30 years, the National Farmers Union (NFU) is calling on the country’s largest retailers to take the lead in a new approach to corporate social responsibility, which would see fair pricing for both customers and suppliers put at the heart of their retail policy. The plea comes after accusations of major supermarkets becoming more aggressive in their demands of suppliers. Mr Kendall will make the call for greater responsibility in a speech... ...Read more »
The UN Food and Agriculture Organization has warned that the current financial crisis will affect agricultural sectors in many countries negatively, including those in the developing world. World cereal production is expected to hit a new record this year as high prices boosted plantings under generally favorable weather conditions, FAO said today in the latest issue of its “Food Outlook”, a bi-annual commodity publication. World cereal production is forecast to be large enough to meet... ...Read more »
Despite more organic food and beverage products on grocery store shelves, all is not healthy in the world of pesticide-free, additive-free edibles. Mintel, a global supplier of market and consumer intelligence, predicts that market growth rates for organic food and drink will decline, especially if the economy falters further. According to Mintel, the market for organic foods and beverages should reach $7.2 billion in 2008, an increase of over 140% from the $3.0 billion recorded during 2003. But... ...Read more »