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Today's Headlines 14/05/2008

Anheuser-Busch to Terminate Its U.S. Importing Rights for Grolsch St. Louis, May 14 - Anheuser-Busch Inc. has signed a letter of intent to terminate its U.S. importing rights to the Grolsch beer brands, it announced today. Miller Brewing Company will become the importer of the Grolsch brands. The deal will provide enhanced protections for Anheuser-Busch equity wholesalers. Anheuser-Busch expects the deal to close by August 1, 2008.

White House Sees Food Prices High for 2-3 Years Washington, May 14 - High global food prices are likely to linger for two to three years while the world replenishes food stocks, senior White House officials said on Tuesday.

Fortune Brands' Court Action to Have No Impact on V&S Deal - Pernod Ricard 14 May 2008 – French Pernod Ricard SA, co-leader in the global wine and spirits industry, told the media the closing of its acquisition of Swedish Vin & Sprit (V&S) shouldn't be delayed by rival Fortune Brands Inc's court action against V&S.

Future Expansion and Acquisitions Are the Next Step for Fast-Growing Andre Juice of China 14 May 2008 - For the first quarter of 2008, Chinese apple juice concentrate maker Yantai North Andre Juice Co.'s turnover increased to approximately RMB 532.6 million (USD 76.3 million), an increase of approximately RMB 207.8 million or 64%, compared to Q1 2007.

Performance Food Group Company Shareholders Approve Merger Richmond, Virginia, May 14 - Performance Food Group Company announced today that its shareholders have voted to approve the proposed merger of Performance Food Group Company with a wholly-owned subsidiary of an affiliate of The Blackstone Group and Wellspring Capital Management LLC pursuant to the terms of the merger agreement dated January 18, 2008.

UK: Unilever Pot Noodle Plant in Wales for Sale at London Auction Next Week 14 May 2008 - Unilever is to offer its Best Food Factory on the Croespenmaen Industrial Estate in Crumlin, Wales, for sale at an Allsop auction in London on Tuesday, 20 May.

US: Two Food and Beverage Plants to Be Built in Amana 14 May 2008 – Two German companies, organic pasta maker Alb-Gold and organic sports drink manufacturer Bionade, are to build production facilities in the Amana colonies in their bid to enter the American market, the Amana Society has announced.

Scandinavian and British Dairy Farmers Unite in Joint Venture 14 May, 2008 - Almost eleven thousand Danish, Swedish and British dairy farmers are uniting in a joint venture that will see farmers within Arla Foods Milk Partnership (AFMP) become part owners of Arla Foods UK plc, through their investment company, Milk Partnership Ltd (MPL).

Glanbia plc: Interim Management Statement 14 May, 2008 - Glanbia plc ('Glanbia'), the international cheese and nutritional ingredients Group, today issues an Interim Management Statement to comply with new reporting requirements under EU Transparency Regulations 2007. This statement coincides with the Group's 20th Annual General Meeting, which is being held today at the Newpark Hotel, Castlecomer Road, Kilkenny at 11.00 am.

South African Food Retailer Spar Lifts Earnings Johannesburg, May 14 - South African grocery chain Spar Group increased headline earnings per share for the six months to March 2008 by 28.7 percent to 201 cents, the company said on Wednesday.

ICO Raises World Coffee Crop Forecast for 2008/09 London, May 13 - World coffee production is forecast to rise to around 127 million 60-kg bags in 2008/09, up from 116.9 million in the prior year, International Coffee Organization Executive Director Nestor Osorio said on Tuesday.

North American Organic Coffee Imports up 30 pct - Survey New York, May 13 - Organic coffee imports to the United States and Canada climbed nearly 30 percent in 2007, compared to the year previous, according to the North America Organic Coffee Industry Survey.

Ukraine PM Seeks to Limit Food Exports Kiev, May 13 - Ukraine's Prime Minister Yulia Tymoshenko said on Tuesday she wants to adopt measures to restrict food exports in a bid to overcome high inflation.

Eckes-Granini: Consistent Growth and Expansion Strategy – A Key to Success

New Ideas to Boost the World Tea Market - FAO Rome, 14 May 2008 - Just like for other tropical products, the world tea market has seen a tendency for increasing supplies to run ahead of demand growth, depressing prices and returns to producers in developing countries.

Lantmännen Cerealia Is Now in Place May 13 - On the 8 May Lantmännen Cerealia, the new joint business area incorporating Lantmännen Mills and Lantmännen Axa, came into being.

EBRD Boosts Kazakh Beverage Producer JSC RG Brands May 12 - In its first direct financing for a Kazakh agribusiness company, the EBRD is providing a US$50 million loan to the local beverage producer, JSC RG Brands, for the completion of a new production plant with state-of-the-art production lines on the outskirts of Almaty.

Tesco to Buy South Korea E-Land's Outlets for $1.9 Billion Seoul, May 14 - British retailer Tesco Plc's South Korean unit will buy 36 discount stores from local rival E-Land Ltd for 1.95 trillion won ($1.87 billion), a spokeswoman at the Tesco unit said on Wednesday.

Soaring Rice Prices a Global Danger, Expert Warns Ottawa, May 13 - The current spike in world rice prices could be devastating, even if it only lasts for a few months, and will leave African nations vulnerable to unrest, a top expert said on Tuesday.

Indian Farmers Hit by Tumbling Onion Prices Mumbai, May 13 - As prices in India shoot over the roof, the value of a politically sensitive, perishable commodity has tumbled, troubling farmers whose pleas for aid have gone unheard as the government battles runaway inflation.

Coffee Market Report - April 2008

Strauss to Buy Coffee Business in Albania, Kosovo Tel Aviv, May 14 - Israel's Strauss Group said on Wednesday it agreed to acquire from Italy's Doncafe its operations in Albania, Kosovo and Macedonia for 7.5 million euros ($11.60 million).

Bodum Coffee to Be 100 pct Organic, Fair Trade New York, May 13 - Bodum coffee will be 100 percent organic and Fair Trade certified by August, the company president said on Tuesday.

Reynolds Food Packaging to Close Laval plant; Retain Distribution Center and Administrative Offices Laval, Quebec, May 13 - Reynolds Food Packaging announced today that it will close its manufacturing plant in Laval, in the fourth quarter of this year. The plant employs approximately 120 people.

Penford Food Ingredients and CP Kelco Announce Alliance on GENU® PLUS Carrageenan

The J. M. Smucker Company Acquires Knott's Berry Farm(R) Food Brand From ConAgra Foods, Inc.

Carrefour Group: 1st Quarter 2008 Sales May 13 - Good start to a breakthrough year, sales inc. VAT + 10.5% on constant exchange rates (+ 10.2% on current exchange rates).

Wal-Mart CFO: Downturn Difficult to Predict New York, May 13 - The U.S. economic downturn has "ingredients we haven't seen before," like the steep rise in gasoline prices, making it hard to determine how long the difficult climate will persist, the chief financial officer of Wal-Mart Stores Inc said in an interview Tuesday.

U.S. Could Block Imports of Italy's Brunello Wine Florence, Italy, May 13 - The United States has threatened to block imports of Brunello di Montalcino, one of Italy's most famous wines, unless it receives assurances over the type of grapes used, a U.S. official said on Tuesday.

Whole Foods Market Reports Second Quarter Results

J Sainsbury plc: Three-Year Targets Exceeded

Yesterday's Headlines 13/05/2008

Food, Fuel Still Risk to Emerging European Prices Prague, May 13 - Food and fuel pushed consumer prices higher in emerging Europe in April, but analysts said the region's central banks could end their tightening cycle by mid-summer as the global slowdown takes hold on growth.

French Activists Say "Non" to GMO Law Paris, May 13 - Hundreds of activists marched in Paris on Tuesday ahead of the expected approval of a law they say blurs the line between natural and genetically modified (GM) foods.

EU Dairy Prices Probably Past Their Peak - Official Brussels, May 13 - European dairy markets may have come to the end of their blistering price rise and should begin to stabilise, the European Commission said on Tuesday.

ASDA Beats Plan Despite Tough Economic Environment May 13 - Wal-Mart Stores, Inc. announced today (13th May) that ASDA had delivered a strong first quarter thanks to an increase in customer traffic driven by lower prices and strong seasonal events.

SAC Capital Acquires 5.4% Passive Stake in Chiquita 13 May 2008 - Private asset management firm SAC Capital Management LLC has acquired a 5.4% stake in Chiquita Brands International Inc., the former has reported in a statement filed with the US Securities and Exchange Commission.

Romania: Ice Cream Maker Alpin 57 Lux Wants to Grow Market Share 13 May 2008 - Romanian ice cream producer Alpin 57 Lux plans to increase its domestic market share from the current 15-17% to 25% in the next 2 to 3 years, reports the Romanian financial press, which estimates the local ice cream market's retail sales at 100 million euro.

Kerry: Interim Management Statement May 13 - Kerry, the global ingredients & flavours and consumer foods group, issued its first Interim Management Statement in accordance with the reporting requirements of the Transparency Regulations 2007 at its Annual General Meeting today.

Diageo Sees Higher Rise in Costs for Next Year London, May 13 - Britain's Diageo Plc, the world's biggest alcoholic drinks group, warned on Tuesday that its costs will rise faster in its next financial year compared with its current year due mainly to increases in energy and grain costs.

Dr Pepper Snapple Group: A Strong Company Facing Headwinds - BMC 13 May 2008 - The Dr Pepper Snapple Group (DPS), the former beverage business of Cadbury Schweppes that formally separated from it on May 7, enjoys many strengths but it faces an exceptionally tricky competitive environment.

France: Bongrain to Elaborate New Bread-Crumbed Products with Poultry Firm Duc 13 May 2008 - French cheese maker Bongrain will sell its Gouaix (Seine-et-Marne department) facility to poultry producing company Duc on 1 July.

America's Largest Corporate Dairy Processor "Muscles Its Way Into Organics", Says Cornucopia Institute

Chiquita Reaches Agreement for the Sale of Atlanta AG to UNIVEG

Wal-Mart Quarterly Profit Rises 7 Percent New York, May 13 - Wal-Mart Stores Inc, the world's largest retailer, reported a 7 percent rise in quarterly profit on Tuesday as discounts drew U.S. shoppers looking for bargains on necessities like food and pharmacy items.

ICCO Monthly Review of the Cocoa Market Situation - March 2008

Celestial NutriFoods Delivers Sterling Results for 1QFY2008 Singapore, May 12, 2008 – Main board-listed Celestial NutriFoods Limited (“Celestial” or the “Group”), a leading soybean protein-based food & beverage products manufacturer in the PRC, announced today a set of sterling results for the first quarter ended March 31, 2008 (“1QFY2008”).

APB Reports Strong Attributable Net Profit Before Exceptional Items Growth of 14% for 1H 2008 May 9 - Asia Pacific Breweries Ltd (APB) closed its first half of the financial year ended 31 March 2008 on a strong note. Versus the corresponding period last year, Group Profit before Interest and Taxation (PBIT) grew 14% or S$20.4 million to S$169.0 million. Excluding translation difference and gestation losses*, PBIT rose organically by 19% to S$179.5 million.

Thai Roong Ruang Sees Higher Sugar Exports in 2008 Bangkok, May 13 - The Thai Roong Ruang Sugar Group, Thailand's second-biggest sugar producer, expects exports to grow 20 percent this year helped by abundant crops, strong demand and an expansion in output, a senior executive said on Tuesday.

Ukraine: Government to Cut Food Duties May 12 - The Cabinet of Ministers of Ukraine is proposing reduction of import duty rates on some food and industrial products, and that the Government is allowed to change customs tariffs. The bill to this effect was registered in the Parliament.

Nestle Recalls Some Nutrition Build-up Original May 12 - Nestle has recalled, as a precautionary measure, one batch of its own-brand Nutrition Build-up Original (400g) because it may contain small pieces of thin plastic. The Agency has issued a Food Alert for Information.