News & Analysis on Food & Beverage Development & Technology
There will be no dramatic drop in cocoa prices in the coming months as forecast by numerous speculators hoping to cash in on a downward trend, reports a cocoa market specialist.
Flavour and fragrance firm Givaudan’s first half net profits crashed by 40 per cent as raw material costs and record currency rates take their toll on the Swiss company, despite good local growth in its flavours businesses.
Food giant Unilever saw net profits grow 10% to €2.235bn in the first half of 2011, with its brand equity allowing it to weather severe raw materials price hikes in some cases.
UK market researchers Mintel report a shift in young people’s drinking habits with a trend towards greater ‘in the home’ consumption, while analysts also note an increasing preference for premium alcohol brands overall.
Kraft Foods has said it intends to split into two companies, in a move that would create a global snacks powerhouse separate from its North American grocery business.
FMC Corporation is looking to expand its food ingredients portfolio as it strengthens its already strong position in the hydrocolloids market.