Global stocks of soybeans continue to rise after last year's price
spiking draw-down, with oilseed production for 2004-05 projected to
reach 390.2 million tonnes, providing a 'comfort-zone' for
inventory levels.
Food manufacturers who haven't yet decided to rethink their product
ranges based on the recently released dietary guidelines should
perhaps do so, according to new research.
Prices for key raw materials used by the food industry are lighter
this month on gains in wheat, corn and soybean inventories, but
analysts suggests wheat prices are open to upside risk.
Sales are down but profits have perked up for chemical giant
Imperial Chemical Industries (ICI) with National Starch bringing a
considerable chunk to the growth.
The hurricanes that swept through the US last year caused great
devastation to many crops. Grapefruit prices, in particular,
soared, provoking flavor companies including IFF to come up with
alternatives, Philippa Nuttall reports.
Sales and consumer awareness of sweetener from UK manufacturer Tate
& Lyle look set to rise as number one global soft drinks player
launches a new version of Diet Coke, complete with Splenda
sucralose logo on the packaging, writes...
Bunge, the biggest processor of oilseed in the world, was extremely
upbeat about its results yesterday, despite volatility in the
fourth quarter keeping profit back to five percent, writes
Philippa Nuttall.
Food manufacturers need focused, attractively branded portfolios
and the ability to offset cost pressures through cost savings and
margin improvement if they are to succeed, according to a report
published last week.
Global processed food sales are today worth $3.2 trillion, but
according to a report published this month by the Economic Research
Service, this trade has been stalling since the 1990s forcing food
manufacturers to look at new ways...
Imperial Sugar yesterday (Thursday) announced a higher
first-quarter profit, but predicted that operating income would
fall significantly in 2005 as the sugar industry remains
challenging, reports Philippa Nuttall.
Europe and the US continue to dominate demand in the €4.5 billion
flavours market, but Asia Pacific region is quickly catching up
thanks to high single-digit growth, reveal figures from a new
report, writes Lindsey Partos.
Fending off price erosion, the landscape of the fermentation
industry continues to change as ingredients firms consolidate for
market strength in €10.97 billion industry, writes Lindsey
Partos.
International Flavors & Fragrances on Wednesday announced
higher profits for Q4, but sales dipped slightly as a result of a
poor performance from its European fruit preparations business.
Soy sales have slowed in the US in recent years, but the ingredient
is still leading the food ingredients' pack, according to a recent
report from Mintel, reports Philippa Nuttall.
Ingredients supplier Cargill targets the steadily growing polyol
branch of the sweeteners market, signing off over €76 ($99.16)
million in investments at plants in Europe and the US.
Convenience, that dominated growth in global product categories
form 2003 to 2004, will drive new product development in the next
12 months. Drinkable yoghurts, sugar substitutes and pre-prepared
foods all enjoyed year on year double-digit...
Food makers enjoying bearish prices for palm oil used extensively
in food applications could see a rise as Malaysia, the world's
number one producer, builds plans to reduce palm oil production,
writes Lindsey Partos.
Monsanto announced on Monday that it has acquired leading seed
company Seminis, but denied that it had any immediate plans to
genetically modify the seed, reports Philippa Nuttall.
Food ingredients and syrups manufacturer Corn Products
International said on Tuesday that fourth-quarter profit fell 41
percent as a result of restructuring in Mexico and South America.
Canadian firm SunOpta last week signed an agreement with MicroSoy
of Jefferson, Iowa to market its toasted soy flake ingredients in
the North American market.
Food company J.M. Smucker said yesterday that it had found a buyer
for its US foodservice and bakery products businesses, plus its
Canadian Gourmet Baker operations.
Barry Callebaut, the world's top supplier of industrial chocolate
to the confectionery industry, has reported a 6 per cent fall in
first quarter sales revenues to CHF1.15bn ($0.97bn) as squeezed
margins bite into the bottom line.
Florida's tomato growers are still feeling the effects of the four
hurricanes that swept through the state last year, said the Florida
Tomato Committee today, urging food manufacturers to realize that
supplies of the fruit are...
Kettle Foods, have decided that 2005 is to be the year when the
humble potato chip takes on a guise never seen before by asking its
consumers what new flavor of chips they would like to see on the
shelves, reports Philippa Nuttall.
The updated food guidelines for the US that were published
yesterday should encourage the food industry to look to producing
healthier, more nutrition-rich alternatives in 2005.
FoodNavigatorUSA.com reported on Monday that Quest International
had launched a new citrus range. Lindsey Partos spoke to the
product manager to find out more.
Sweetener company zuChem said today that it will launch its initial
mannitol product in the first quarter of 2005 on the back of the
FDA's recent amendment of its legslation governing the sweetener.
The Sugar Association announced last week that it will launch a
multi-million dollar campaign to combat the negative press sugar
has had in recent years.
Biotech giant Monsanto announced a smaller net loss for the first
quarter of 2005 than the same period last year thanks mainly to
increasing seed sales, but legal problems are still proving
expensive for the company.
Despite an upturn in global wheat, corn and soy production in 2004,
prices for food ingredients sourced from cereal raw materials are
likely to remain under pressure, writes Lindsey Partos.
Opportunities for suppliers and users of low-calorie bulk sweetener
erythritol open up as Canada clears approval for inclusion of this
natural sweetener in a range of food formulations from cream
fillings to chewing gum.
Moves in the food industry this week include Monica Gonzalez
joining the Grocery Manufacturers of America (GMA) as director of
scientific and regulatory policy and Mike Leavitt being picked to
head the Health and Human Services department..
Several major beverage companies plan to begin selling flavored
water early next year, a move that could bost their sales in the
rapidly growing bottled water market, according to a report by the
Associated Press (AP) this week.
