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SunOpta net profit rockets 85% on packaged foods sales

Canadian natural and organics group SunOpta has reported an 85% profit surge in the second quarter of 2012 driven by strong growth in packaged foods sales.

MGPI narrows loss, aims to ease corn cost impact

Corn costs continued to hit MGP Ingredients’ results in the second quarter, although it narrowed its loss from $10.3m a year ago to $850,000.

White House responds to ‘historic’ drought with $30m disaster aid

The worst drought to hit the United States in half a century is having dramatic effects on crop and livestock production, President Obama said in a White House briefing Tuesday,...

Cargill full year earnings ‘not up to expectations’: CEO

Cargill has reported an 82% slump in profit for the fourth quarter and a 56% drop for the fiscal year, citing cyclical trends in soybean processing and American beef, as...

Nestlé first half results: Pros and cons

Europe and North America were the worst performing regions for Nestlé according to its first half (H1) results, while Asia, Oceania, Africa and emerging markets delivered double digit growth.

Senomyx announces dual-purpose sweetness enhancer for HFCS and sucrose

San Diego-based flavor firm Senomyx has discovered a new taste modifier ingredient that can enhance the sweet flavor of both high fructose corn syrup (HFCS) and sucrose, allowing food manufacturers...

Kraft boosts profits 5% in Q2, reaffirms outlook

Kraft Foods reported a 5.4% rise in second quarter net profit, more than offsetting higher raw material costs and adverse effects of currency exchange rates, the company said on Thursday.

The fight against obesity: A new investment megatrend?

Obesity is a ‘global sustainability megatrend’ likely to take decades to address – but it could also provide opportunities for investors looking to support those industries aiming to be part...

ConAgra to acquire Unilever’s North American frozen foods business in $265m deal

ConAgra Foods has agreed to acquire Bertolli and P.F. Chang’s Home Menu frozen meals businesses from Unilever for $265m, as part of a strategy to continue its growth in the...

Cargill acquires beef processing facility from firm crushed by ‘pink slime’ coverage

Cargill has acquired a beef processing facility for $14.1m from AFA Foods, which filed for Chapter 11 bankruptcy in the wake of a wave of media coverage over lean finely...

General Mills CEO: ‘It’s been a challenging year for the food industry’

While US food heavyweight General Mills reported a 12% rise in sales for the 2012 fiscal year ending May 27, it said growth had been constrained by cost pressures in...

Confectionery industry heartened by close sugar program vote

The candy industry and sugar growers are both claiming at least a partial victory after the US Senate voted 50-46 to shelve an amendment to the 2012 Farm Bill that...

Diamond Foods faces Nasdaq delisting as it misses filing deadline

Diamond Foods expects to receive a delisting letter from Nasdaq for failing to meet today’s deadline for filing financial reports, the company has said.

Nutrition advocates urge Congress to turn farm bill into ‘healthier food bill’

The Environmental Working Group (EWG) and about 70 food and nutrition experts have urged Congress to turn the 2012 Farm Bill into a ‘healthier food bill’ – by cutting crop...

Flowers Foods to buy Lepage Bakeries in $370m deal

Just days after its CEO told analysts his firm was in “great shape” to do more deals , Flowers Foods has announced plans to expand its bakery empire in the Northeast...

General Mills agrees to buy Brazilian food maker Yoki

General Mills has agreed to buy Brazilian food maker Yoki Alimentos for 1.95bn reais (about $853m) in a move it says could double its annual sales in Latin America.

Diamond Foods secures $225m investment

Diamond Foods has secured $225m of funding as it looks to reestablish itself in the walnut industry and grow its business, in a deal that could see investment firm Oaktree...

General Mills to cut 850 jobs in cost savings plan

General Mills intends to cut 850 jobs globally as part of a cost savings plan, the company said Tuesday.

Campbell’s fails to heat up soup sales as profit slips 5%

The Campbell Soup Company saw its profit fall 5.4% on declining soup volumes and higher costs in the third quarter, although sales in its US beverages and snacking segments were up.

Judge denies Hostess’ bid to reject Teamsters contracts

Bankruptcy Judge Robert Drain has denied Hostess Brands’ bid to scrap labor contracts for members of its largest union, the Teamsters, in a move that leaves Hostess having to rethink...

Imperial Sugar reports $6.5m loss in Q2

Imperial Sugar Company reported a net loss of $6.5m in the second quarter, compared to a net profit of $4.2m in the prior year period, while net sales were up 5.6%.

Food grade alcohol and ingredients boost MGPI sales

MGP Ingredients (MGPI) reported a 34% increase in sales in the first quarter of 2012, led by food grade alcohol and better results in its food ingredients segment.

High raw material costs continue to weigh on IFF in Q1

High raw material costs continued to impact International Flavors and Fragrances (IFF) in the first quarter, as it reported a 4% decline in net profit, the company reported on Wednesday.

Higher prices boost Kraft profit in Q1

Kraft Foods reported a 1.8% increase in first quarter profit after it raised prices for its products around the world and increased sales of its ‘power’ brands, particularly in developing markets.

GLG Life Tech receives cease trade order

Stevia supplier GLG Life Tech has stopped trading on the Toronto Stock Exchange after it received a full cease trade order from the British Columbia Securities Commission, due to delayed...

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