ADM reports 83% profit decline; corn processing division battered

05-Aug-2009 - Archer Daniels Midland (ADM) has reported an 83 percent decline in net earnings for Q4 2009, and in corn processing increased profits from corn-based starches and sweeteners were buried by losses in ethanol.

Corn Products International hit by lower demand, higher costs

29-Jul-2009 - The global recession has hit Corn Products International’s bottom line as its products – including high fructose corn syrup (HFCS) – experience lower demand, particularly in North America, the company said.

Exclusive interview

Food technologists ‘under attack’, says former IFT chief

19-Jun-2009 - Food technology is a profession under attack – and both industry and government need to invest to ensure its future, says former IFT president Dr John Floros.

Dispatches from IFT

Take advantage of recession, says former White House director

12-Jun-2009 - Food firms can benefit from the downturn by taking advantage of lower advertising and input rates and positioning for recovery, said economic expert at IFT.

Even successful businesses bitten by funding freeze

26-May-2009 - Finding investors in the current economic environment is a problem for all companies, even if they are doing well, according to Frost and Sullivan research analyst Christopher Shanahan.

Stevia standards developer could lack future funding

19-May-2009 - Ingredient standards researcher ChromaDex Corporation has said that it anticipates significant future demand for its services, but is unsure if it can secure the capital necessary to continue expansion.

Latin America’s appeal for food companies

14-May-2009 - Latin America presents growing opportunities for investment for food manufacturers, even as the economic crisis takes its toll on American and European markets, according to a new market report.

Ingredia Group completes Kantner acquisition

07-May-2009 - IDI Inc has finalized its acquisition of Ohio-based Kantner Ingredients, in a deal expected to increase its export capabilities and US presence.

New food launches halve recession-stuck quarter, says Mintel

29-Apr-2009 - New data indicates that food manufacturers are opting not to invest in new food and drink product launches during the economic down turn, as budgets are cut from R&D to marketing.

Cargill counts recession costs, despite caution

15-Apr-2009 - Cargill has taken a heavy hit to its earnings in all its business segments in Q3, as the effects of the global downturn hit home, but remains confident of a bounce-back when conditions allow.

ConAgra beats Q3 forecast with pricing plan and brand overhaul

27-Mar-2009 - US food giant ConAgra has cut costs and increased prices, helping it to a better than expected rise in its third quarter earnings, the company reported on Thursday.

SunOpta reports record revenue for ‘challenging’ fiscal 2008

06-Mar-2009 - Canadian natural and organics food group SunOpta has reported record revenues despite a “challenging year”, attributing the increase to its business strategy combined with continued interest in healthy foods.

Frutarom signs agreement to buy Flavor Specialties Inc

04-Mar-2009 - Frutarom has taken the next step in its march to strengthen its position in US flavors with a new agreement to acquire Flavors Specialities Inc (FSI) for $17.2m.

Product recall insurance on the up

24-Feb-2009 - The popularity of specialist insurance to protect against the effects of product recalls is on the rise in the wake of the current salmonella scandal, says Mikel Fitzgerald of Wortham Insurance. He told FoodNavigator-USA.com how it can help minimize damage, both to company reputation, as well as the bottom line.

Food companies to focus on liquidity in 2009: Fitch

16-Feb-2009 - Food companies are expected to seek greater liquidity in 2009 as they are hit by unexpectedly volatile ingredient prices and lower consumer food spending, according to a report from Fitch Ratings.

PCA files for bankruptcy as recall expands to Texas plant

16-Feb-2009 - The Peanut Corporation of America (PCA) has filed for chapter 7 bankruptcy, a month after peanut products from its Blakely, Georgia facility were first recalled due to salmonella contamination.

IFF is 'cautiously optimistic' for 2009 despite margin pressures

05-Feb-2009 - High raw material costs and lower sales take their toll on the bottom line at International Flavors and Fragrancesf (IFF).

ADM plans strategy to beat lower demand on strong Q2 profits

04-Feb-2009 - Agricultural processing giant Archer Daniels Midland (ADM) has reported strong second quarter results despite slowing demand, with profits up 24 percent compared to the same period last year.

News in brief

Colombian food giant to buy Mexican chocolate maker

04-Feb-2009 - Colombia's Grupo Nacional de Chocolates, purportedly the country's biggest food company, will buy Mexican chocolate manufacturer Nutresa for $95m.

Analysts say prospects look good for Crown

03-Feb-2009 - Crown Holdings reported a fourth-quarter loss as restructuring charges and other expenses impacted on its results but analysts say it is well positioned for growth.

News in brief

New president at Frutarom USA

28-Jan-2009 - Ingredients and flavors firm Frutarom has announced the appointment of Rafi Friedman as president of Frutarom USA.

Merisant gets court approval to finance PureVia roll-out

15-Jan-2009 - Merisant has received approval from the bankruptcy court to continue operations, allowing it to support the launch of the stevia-derived sweetener PureVia, which is expected to help turn its fortunes around.

Cargill Q2 profits rise but food segment results are weak

14-Jan-2009 - Cargill’s net earnings for the second quarter of 2009 have increased 25 percent but, despite a solid overall performance, the results for its food segment declined.

Merisant files for bankruptcy

12-Jan-2009 - The tabletop sweetener company Merisant Worldwide has filed for bankruptcy in a move which it says will free up more cash to invest in its new stevia-derived sweetener PureVia.