Leading Mexican beer brewer Grupo Modelo will likely show moderate
earnings growth for the second quarter of this year, with U.S.
sales offsetting a flat domestic market.
Shares in Kamps AG, the largest German bakery chain, shed more than
40 per cent on Wednesday, after the company cut its 2001 operating
profit forecast by 31 per cent.
Philippine conglomerate RFM Corp said it would focus on its core
food business after the sale of its lucrative soft drinks
subsidiary Cosmos Bottling Corp to a joint venture of Coca-Cola and
San Miguel Corp.
A six-year old Swiss cat was found suffering from an illness
related to mad cow disease, probably from eating infected cat food,
said the Swiss veterinary office.
Mainland China flower and vegetable producer Euro-Asia Agricultural
(Holdings) Co Ltd said this week that the retail slice of its
initial public offering in Hong Kong had been about 79 times
subscribed.
On July 17, British and German agriculture ministers said they
would push for radical restructuring of the European Union's
agricultural policy to take account of the environment as well as
food production.
The Australian brewer Lion Nathan has suffered further blows in its
hopes to beat the British liquor group Allied Domecq and to regain
a controlling stake in New Zealand's winemaker Montana.
The Japanese unit of Procter & Gamble Co (P&G) said on
Tuesday it would recall some 800,000 packs of its Pringles potato
chips that were found to contain unapproved genetically modified
(GM) potatoes.
Dutch supermarkets group Koninklijke Ahold NV said on Monday it
will launch a tender offer for the remaining outstanding 42 per
cent of its Internet grocery unit Peapod Inc.
Philippine Trade and Industry Secretary Manuel Roxas sent
government teams to grocery stores nationwide to search for
imported sauces, which British health authorities say contain high
levels of chemicals that cause cancer if taken...
H. J. Heinz Company, the American food company, has completed the
acquisition of the pasta sauce and dry bouillon and soup businesses
of Borden Foods Corporation.
The highly successful energy drink Red Bull is under investigation
by the Swedish National Food Administration, following the deaths
of at least three persons.
Monsanto announced that GM wheat should be available for sale
within five years. However, Canadian farmers are reluctant to this
development as Europe, their largest export market, is opposed to
GMOs.
An American federal judge dismissed a 6-year-old civil lawsuit
alleging that several American agribusiness groups were involved in
a conspiracy to fix the price of high-fructose corn syrup.
Creditors of South Korea's Haitai Confectionery will arrange $304.3
million in loans to sweeten the sale of the insolvent company to a
UBS Capital-led group.
In the first four months of the year, Malaysia's worldwide exports
of food products reached Euro 363 m. The figure for the entire year
is set to increase beyond last year's figure of Euro 1.14 bn.
An Agricultural Research Service scientist is working on a new kind
of French fry: low fat and healthy. The fries are made from rice
flour mixtures, rather than potatoes.
On July 12, Mexico's Federal Comptroller said that sugar giant
Consorcio Azucarero Escorpion (CAZE) made false statements to
receive about $11.1 million in export subsidies between 1997 and
1999.
The Swedish National Food Administration reported that "energy"
drinks containing caffeine and taurine should not be used as
thirst-quenchers or mixed with alcohol.
AmBev, the Brazilian drinks group, launched its Guarana Antarctica
soft drink in Portugal on July 12 in what it said was a cautious
first step toward its ambition to make the brand a global player.
Dole Food Co. Inc., the largest U.S.fresh fruit and vegetable
producer, reported that higher banana prices, fresh fruit sales and
cost-cutting upped second-quarter profits, but warned that the
third quarter might not meet forecasts.
A new research revealed that Seventh-Day Adventists, followers of a
healthy lifestyle due to religious dictates, have significantly
longer-than-average life expectancies.
The French beverage group Pernod Ricard has received seven offers
for BWG, its Irish and British wholesale distribution business, in
a deal that could be worth up to Euro350m.
Diageo, the UK drink company, reported strong sales and volumes at
its premium drinks business but warned of a poor second half for
both Pillsbury and Burger King.
Hong Kong food and beverage companies Fairwood Holdings and Vitasoy
International reported worse-than-expected results on July 12, as
newly-enforced mandatory pension benefits and foreign expansion ate
into their bottom lines.
The European Union has complained at World Trade Organisation talks
about countries keeping wide bans on EU livestock and other goods
despite the curbing of foot-and-mouth.
US soft drink giant Pepsico Inc has teamed up with the Carlyle
global investment group to try to outbid San Miguel Corp in the
race to acquire Philippine soft drink firm Cosmos Bottling Corp.
French herb specialist Darégal announced this week that from July 1
2001 it has taken over the frozen aromatic herbs activity of French
food company Gyma
The long-term health benefits to Chinese and other Asian people who
have traditionally existed on a primarily plant-based diet might be
lost as more people in Asia switch to a Western-style diet that is
rich in animal-based foods.
The Philippine's food and beverage company San Miguel Corp said on
July 11 that it hoped to clinch a deal by next month to buy Cosmos
Bottling Corporation (CBC).
According to a Malaysian health official, Malaysia has ordered soy
sauce and seasoning products from several countries off food
shelves for fear that they cause cancer
Japan Cellfoods announced on July 11 that it has developed a new
method of processing soybeans that preserves their nutritional
value while eliminating the unpleasant taste and smell often
associated with soybeans
In a statement released on July 11, the European Commission said
that the ban on exports of live animals susceptible to
foot-and-mouth disease and the ban on untreated fresh meat and
fresh milk and milk products from Britain, due...
Figures released on July 11 showed that Kirin Brewery and Asahi
Breweries, the two largest Japanese brewing companies, were
neck-and-neck in beer market share for the first half of the year.
Miller Brewing Co. and Royal Grolsch NV agreed on a alliance
regarding the brewing, bottling, sales, marketing and distribution
on Miller Genuine Draft in several Western European countries.
A new report by the United Nations affirms that genetically
modified organisms could be vital to developing countries as a
newly developed high-yield variety of rice does not require
fertiliser or pesticide.
Kuwait, Qatar, Saudi Arabia and Bahrain have taken steps to
withdraw all Spanish olive oil from the market following the
discovery of benzopyrene in olive-pomace oil.