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Food finance and prices

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.

FTC gives go-ahead to Corn Products-National Starch deal

19-Aug-2010 - Corn Products International has said the Federal Trade Commission (FTC) has given initial approval of its $1.3bn acquisition of National Starch, with the deal expected to be finalized by early October.

ADM, Cargill et al stand to benefit from Russian grain ban

17-Aug-2010 - The Russian ban on grain exports will boost profits at ADM, Cargill and Viterra in the coming months, according to credit ratings agency Moody’s.

SunOpta cites interest in natural and organic for revenue rise

12-Aug-2010 - Canadian natural and organics group SunOpta has reported a surge in operating income to C$11.8m in the second quarter of 2010, up from C$4.6m the previous year, reflecting continued interest in natural and organic foods, the company said.

Sports drink stabilizer alternative to gum arabic

12-Aug-2010 - Cargill has introduced a new starch-based stabilizer for use in sports drinks as a possible replacement to gum arabic – an ingredient susceptible to supply and cost issues.

World wheat shortage unlikely, says US agriculture secretary

11-Aug-2010 - US Department of Agriculture (USDA) Secretary Tom Vilsack said on Tuesday that world wheat supplies are robust, despite fires that have devastated Russian wheat crops and flooding in Canada.

GLG’s profits boosted as proprietary stevia leaf comes on line

10-Aug-2010 - Stevia supplier GLG Life Tech’s gross profits increased 126 percent in the first half of 2010, and revenue grew 35 percent, to C$18.7m, boosted by development of its proprietary stevia leaf, the company said.

Rapid revenue rise at Senomyx driven by new products, R&D deals

06-Aug-2010 - California-based flavor firm Senomyx has reported a 91 percent increase in revenue for the second quarter of 2010 compared to a year earlier, boosted by sweetness enhancer R&D and further commercialization of its flavor ingredients.

ADM profits up on stronger oilseed, corn processing demand

04-Aug-2010 - Archer Daniels Midland (ADM) has seen its net profit increase by 15 percent during fiscal 2010, driven by stronger demand and improved margins, particularly in oilseeds and corn processing.

Study shows growing price gap between healthy and junk foods

02-Aug-2010 - There is a growing disparity between the price of nutrient-dense and less nutritious foods, according to a new study in the journal Food Policy.

Tainted packaging recall hits Kellogg profits

30-Jul-2010 - Kellogg has said the massive recall of breakfast cereal due to tainted packaging was a major factor behind it posting a 15 per cent drop in profits for the second quarter.

Ajinomoto announces MSG price rise on strong demand

29-Jul-2010 - Ajinomoto Food Ingredients has said that it will increase the price of its monosodium glutamate (MSG) due to strong global demand and higher raw ingredient and energy costs.

Corn Products sales surge in Q2; to finalize National Starch deal in Q3

28-Jul-2010 - Corn Products International has said it expects to finalize its National Starch takeover by the end of the third quarter, as it reported a ten percent rise in sales compared to the previous year.

PureCircle shares slump on warning of lower profits

28-Jul-2010 - Stevia supplier PureCircle saw its share price plummet yesterday (Tuesday) after it said in a trading update that its profits for fiscal 2010 would be down on last year.

Snyder’s-Lance merger creates no. 2 US salty snack company

23-Jul-2010 - Salty snack makers Snyder’s of Hanover and Lance, Inc. have signed a merger deal that creates the second largest salty snack company in the United States after Frito-Lay.

Food industry execs report recession rebound: Survey

15-Jul-2010 - The food and beverage industry is beginning to emerge from recession, with two-thirds of executives saying they are seeing better revenues and profits compared to the same period last year, according to a new survey.

Innovate to interest post-recession consumers, says GMA

13-Jul-2010 - Consumer packaged goods companies need to change tactics as America emerges from recession, say the Grocery Manufacturers Association (GMA) and PriceWaterhouseCoopers (PWC). Brand divestment and cost-cutting is out, innovation and targeting niche markets is very much in.