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Food finance and prices
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The food industry is in constant financial motion; there’s always some company snapping up the assets of another, not to mention grappling with fluctuating costs of commodities. The latest money moves can have a big impact on ingredient supply, so it pays to keep up to date. |
Frozen foods benefiting from recession
07-Jan-2009 - The frozen foods market is showing signs of a revival in the tough economic climate, with indications that consumers are switching back from higher-priced chilled foods to frozen alternatives in order to save costs and reduce waste.
Frutarom starts year with Oxford acquisition
06-Jan-2009 - Frutarom has made a confident start to 2009, putting its rapid growth strategy into action once more with an agreement to acquire UK flavour and fragrance ingredients firm Oxford.
Falling pound value may aid UK-Euro dairy woes
05-Jan-2009 - British dairy groups are proving to be particularly sensitive to the bleak new year outlook facing European processors, though the falling value of Sterling may cushion the nation’s producers ahead of an expected long-term pickup.
Melamine takes its toll on ingredient sales in China
19-Dec-2008 - The impact of this year’s melamine dairy crisis has rumbled through the food chain and although quality assurance measures can benefit responsible firms, downturn in Chinese dairy has still led to lost of ingredients sales.
Campina and Friesland get merger green light
18-Dec-2008 - Dairy co-ops Campina and Friesland are to become one at the end of this year, following competition clearance subject to conditions, and a favourable final vote by the councils of both.
Sweeteners still a bitter pill for Danisco margins
16-Dec-2008 - Margin pressure in its sweeteners and Genencor business divisions has caused Danisco to lower its bottom-line outlook and take a long hard look at its production set-up for xylitol and other products.
Splenda bounces back as Tate & Lyle releases figures
07-Nov-2008 - Tate & Lyle’s sucralose product has recovered from a drop in demand to see a sales increase after the opening of the firm’s Singapore production plant, albeit with a reduced operating profit.
Credit crisis cuts M&A activity in food industry
04-Nov-2008 - Consolidation in the food industry shifts down several gears as the global credit crisis cuts into financing opportunities for merger and acquisition activity and cash-rich firms with strong balance sheets sit and wait.
CSM announces 200 jobs cuts by the end of the year
03-Nov-2008 - Dutch bakery supplies business CSM has announced that it will cut 200 jobs from its workforce across Germany, France and the US in the next two months in response to plummeting sales and falling consumer confidence.
Competition watchdog extends probe of Danisco-Nordzucker deal
03-Nov-2008 - The Danisco deal to spin-off of its sugar arm to Germany's Nordzucker faces delays after German competition authorities take their review into a second phase, opting to investigate the €750m takeover further.
Falling vegetable oil prices to improve AAK cash flow
31-Oct-2008 - Specialty fats firm AAK has said that the falling price of vegetable oils will help keep its financial situation in good health – especially useful when acquisitions and organic growth in food ingredients are on the horizon.
Symrise optimistic in face of financial crisis
28-Oct-2008 - German flavour and fragrance manufacturer Symrise remains confident of seeing growth for the remainder of this year and next, despite the financial downturn which is gripping the world markets.
Milk farmer concerns persist over processor payouts
14-Oct-2008 - As a leading UK Dairy Processor prepares to increase payouts for their milk supplies from next month, the issue of sustainable pricing for supplies looks far from resolved.
News in brief
CSM completes gluconates plant sale
13-Oct-2008 - CSM has sold its gluconates plant in Ter Apelkanaal to Avebe, as part of its manufacturing restructuring. The sale agreement was announced in July, and all 68 employees have transferred to the new owner. The value of the sale is not disclosed.
ABF gets go-ahead for French yeast acquisition
26-Sep-2008 - The European Commission cleared the acquisition of the baker’s yeast division of Gilde Bakery Ingredients by Associated British Foods on Tuesday following ABF’s acceptance of conditions to ensure that sufficient market competition is retained.
Leading retailers investigated for price fixing
25-Sep-2008 - A number of leading UK consumer goods retailers and suppliers are being investigated for price fixing.
Tectonic shift on Wall St could impact wheat prices
19-Sep-2008 - Lower futures prices for wheat herald a shaving of input costs for bakers and millers, with the collapse of Lehman Brothers and the near-bankcruptcy of global insurer AIG arguably hitting agricultural quotations downwards.
Danisco confident xylitol will pick up
18-Sep-2008 - Danisco has charged an internal task force with identifying new applications for xylitol, as the sweetener continues to blight its otherwise positive financial results – but has reduced production in the meantime.
Asian firm to boost corn sweetener supplies
18-Sep-2008 - Hong-Kong listed firm Global Sweeteners has delivered mixed results for the first half of 2008, but escaped a potential hit from the price hike in corn by passing on costs to the market.
Special edition: Sustainability
Measuring the benefit of sustainable reporting
16-Sep-2008 - In the first of a series on sustainability, FoodNavigator looks at the value of sustainable practices and reporting and how it can improve a company’s standing among shareholders, customers and peers.
AB Enzymes ups prices by 10 per cent
15-Sep-2008 - AB Enzymes is to pass on some of the increased costs of raw materials, energy and overheads, upping the price of its baking, food and specialty enzymes by up to 10 per cent.
High food prices spur more Eastern European cereal production, FAO
12-Sep-2008 - Higher food prices have led to larger areas planted with cereals in Russia and Ukraine, which is expected to result in higher agricultural output this year, according to the UN’s Food and Agriculture Organization.
Cost relief for bakers as bread-making wheat price dips
09-Sep-2008 - Costs may ease up for bakers and snack makers as the price of bread-making wheat moves downwards on the back of strong yields.
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