Mondelēz International was weighed down by operational issues in Brazil and Russia in the third quarter (Q3) which harmed overall performance in its first results since it split from Kraft Foods in October.
The Mondelez Series - New confectionery powerhouse
The developing markets of Brazil, Russia, India and China will drive sales for Kraft’s global snacks business Mondelez International, according to CEO Irene Rosenfeld.
A deal with US company Verenium sees Dutch ingredients giant DSM acquiring exclusive world-wide licenses to alpha-amylase and xylanase enzymes within the food and beverage markets.
Brazil, Russia, India and China will feature in the top five biggest grocery markets by 2015, with China set to snatch the top spot from the US in 2012, predicts IGD.
Volatility in crucial food commodity markets, primarily due to shifts in the BRIC economies, are currently underappreciated in the market place, warns a new report from Rabobank Food and Agribusiness Research and Advisory (FAR).
Walmart has announced the closure of its office in Moscow, opened just last year, as it does not see any suitable acquisition opportunities on the horizon.
Food ingredients company Danisco has reported “solid” growth during Q1 of 2010, with the continued recovery of its sweeteners division particularly notable.