Global Food Industry and Business News

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Yesterday's Headlines 03/07/2009

Athens Bomb Targets McDonald's, No Injuries Athens, July 3 - A homemade bomb exploded outside a McDonald's restaurant in Athens early on Friday, shattering windows but causing no injuries, police said.

More Australian Dairy Cattle to Be Exported to China July 3 - The Rudd Government has announced another step forward in our agricultural trade with China, with the signing of an agreement set to further expand our dairy cattle exports.

Tesco Survives Investor Protest over Share Options Glasgow, July 3 - Tesco, Britain's largest retailer, narrowly survived a big investor protest over changes to its management share option plan and more comfortably saw off complaints it should do more to help migrant workers.

India May Consider Import Tax Crude Palm Oil New Delhi, July 3 - India may impose a nominal tax on crude palm oil imports and marginally raise the levy on refined oils, top industry analyst Dorab Mistry said.

Australia: Warrnambool Cheese Cuts Milk Price for Farmers for 2009-2010

Unilever Exec Says Russian Business Buoyant Moscow, July 3 - Food and household products maker Unilever's Russian business is thriving, with the crisis a good time for the company to expand, a company executive said on Friday.

Codex Adopts Key Provisions for Food Supplements - IADSA 3 July 2009 - The Codex Alimentarius Commission (CAC) this week adopted provisions for five key issues for the food supplement industry in line with provisions supported by IADSA.

Euro Zone May Retail Sales Fall More Than Expected Brussels, July 3 - Euro zone retail sales fell further than expected in May, data showed on Friday, dampening hopes that an improvement in consumer spending might ease the recession.

Fonterra Appeals Commerce Commission Ruling July 3 - Fonterra will appeal the Commerce Commission's latest ruling in the dispute between Fonterra, Kaimai Cheese Company and The Grate Kiwi Cheese Company.

Philippines Bought Rice Above Market Prices Manila, July 3 - The Philippines, the world's biggest rice importer, paid almost $550 a tonne for 1.5 million tonnes of rice it bought from Vietnam earlier this year, far more than initially estimated, documents seen by Reuters showed.

Fortis Cuts 2009/10 Global Cocoa Deficit Forecast London, July 2 - Fortis on Thursday revised down its estimate for a projected global cocoa deficit in 2009/10 to 56,000 tonnes, down from a previous forecast for a deficit of 64,000 tonnes.

Seven & I Shares Sink on Big Q1 Profit Decline Tokyo, July 3 - Shares in Seven & I Holdings tumbled on Friday after it booked a sharper than expected decline in its first-quarter profit as Japan's recession hit sales at its supermarkets and department stores.

Guatemala June Coffee Exports up 4.9 Pct yr/yr Guatemala City, July 2 - Coffee exports from Guatemala rose 4.9 percent in June to 486,167 60-kg bags, growers group Anacafe said on Thursday.

France, Germany Ask EU to Help Dairy Market Berlin, July 2 - The agriculture ministers of Germany and France wrote to the European Commission on Thursday to ask for regulatory help for their dairy farmers because of weak milk prices.

Symrise Falls on M.Stanley Downgrade July 3 - Shares in fragrance and food-flavours maker Symrise fall 3.3 percent, making them the top losers in Frankfurt's mid-cap index <.MDAXI>, after Morgan Stanley downgrades the stock to "equal-weight" from "overweight".

Tetra Pak Acquires Scanima A/S Mixer Division Lund, July 3, 2009 - Tetra Pak, the world leader in food processing and packaging solutions, today announced that it has acquired the assets of Scanima A/S Mixer Division from Denmark-based Scanima A/S, a leading partner in the world of high-quality mixing solutions and spiral solutions – freezers, chillers, proofers and steamers.

Hot Dogs to Replace Steaks this July 4 US Holiday Chicago, July 2 - Americans will be throwing more hot dogs and hamburgers on their backyard grills rather than higher-priced meat like steaks this July 4 U.S. Independence Day holiday as the recession and high unemployment crimp celebrations.

Taco Bell Replaces McDonald's as NBA Sponsor Chicago, July 3 - Taco Bell has replaced McDonald's Corp as the National Basketball Association's official fast-food sponsor, the company said Thursday.

Indian Farmers to Reap Good Harvest from Budget New Delhi, July 2 - India's vital but antiquated farm sector may next week finally get the funding it needs to realise its rich potential, with likely big investments in irrigation and seeds aimed at boosting dismal productivity.

Thursday's Headlines 02/07/2009

Russia Retailers Agree Trade Controls After Putin Rap Moscow, July 2 - A scolding by Prime Minister Vladimir Putin ringing in their ears, Russian retailers are set to accept tough rules on trade in a new draft law but will escape outright price caps, a business lobby said on Thursday.

French Organic Baker Biofournil Buys Biscuit Producer Le Petit Mouzillon 2 July 2009 - Leading French organic bread maker Biofournil has acquired Le Petit Mouzillon a traditional biscuit producer based in Mouzillon, near Nantes, which had ceased operations in 2007.

Unilever Closes Acquisition of Baltimor Sauce Business July 2, 2009 - Unilever today announced that it had closed its deal to acquire the sauces business of Baltimor Holding ZAO, the leading ketchup business in Russia, following approval from the Federal Antimonopoly Service.

China Marine Food Group Limited Leads Government Sponsored Research Project for Ocean-Harvested Seafood Product Development Shishi, China, July 2 - China Marine Food Group Ltd., a China-based processor of seafood- based snack foods and fresh and frozen marine catch, today announced the Company's plans to lead a government-sponsored research project focused on developing consumer-ready seafood products from low-cost seafood items using newly developed technologies.

SkyPeople Fruit Juice, Inc. Establishes California-based Subsidiary for U.S. Sales and Distribution July 2 - SkyPeople Fruit Juice, Inc., a leading processor and manufacturer of concentrated apple, kiwifruit, pear and other fruit juices and fruit products in the People's Republic of China, today announced that it has established a California-based subsidiary corporation under the laws of Delaware named Harmony MN Inc.

EU Court Okays Dutch, Italy to Sell 'Bavaria' Beer Luxembourg, July 2 - Europe's highest court on Thursday upheld the right of Dutch and Italian brewers to sell their 'Bavaria' beer in Italy, rejecting a bid by a company making a rival beer with the equivalent name in German to stop them.

Jamba, Inc. Announces Multi-Unit Restaurant Sale as Part of Broader Refranchising Strategy Emeryville, Calif., Jul 01, 2009 - Jamba, Inc. announced today the sale of nine restaurants as part of its ongoing strategic refranchising program that was announced May 28, 2009.

UK: Domino's Pizza Buys Dresdner Kleinwort Leasing March 2 for up to GBP 15 Mln 2 July 2009 - Domino's Pizza UK & IRL plc (the Company) announces that it has, through its subsidiary Dominos Pizza Group Limited (DPGL), acquired the entire issued share capital of Dresdner Kleinwort Leasing March (2) Limited (March 2) from Dresdner Kleinwort Leasing Limited.

Indonesia Sees 2009 Coffee Output up about 3 Pct Jakarta, July 2 - Indonesia's coffee output is forecast to grow by about 3 percent to 689,000 tonnes in 2009, an agriculture ministry official said on Thursday, while exports were expected to be steady.

Ivorian Cocoa Export Tax to Fall in 2009/10 Abidjan, July 1 - Ivory Coast will cut export taxes on its chief export cocoa from the start of the coming 2009/10 season as it seeks to meet World Bank debt relief terms, its cocoa reform committee said in documents obtained by Reuters on Wednesday.

Fonterra: Global Dairy Prices down in Latest Auction Wellington, July 2 - International dairy prices have fallen for the third month in a row, New Zealand's Fonterra Cooperative Group Ltd said on Thursday.

India 2008/09 Sugar Output Seen at 15 Million Tons New Delhi, July 2 - India is expected to produce 15 million tonnes of sugar in the year to September, down 43 percent from a year ago, the finance ministry said in a survey on Thursday.

Russia: X5 Completes Buy-Out of Franchisee in Urals Amsterdam, 2 July 2009 - X5 Retail Group N.V., Russia's largest retailer in terms of sales, announces that it has completed its buy-out of the company that operates Pyaterochka stores in Yekaterinburg and Chelyabinsk.

Greene King FY Profit Falls Less than Expected London, July 2 - British pubs group Greene King posted a smaller-than-expected fall in full-year profit and said it had benefited from an upturn in trading in recent weeks, driven by a sharp increase in sales of food.

Japan: Retail Slump Dents Seven & I's Q1 Profit Tokyo, July 2 - Japan's largest retailer Seven & I Holdings reported a decline in first-quarter profit on Thursday, hurt by weak consumer spending amid a recession, and kept its full-year outlook.

Liquor Group Files Breach of Contract Claims Against Drinks Americas Jacksonville, Fla., Jul. 1 - Liquor Group Wholesale, Inc. filed claims exceeding $1,000,000.00 of damages against Drinks Americas Holdings, LTD.

General Mills Comment Lifts Consumer Staples Shares 1 July 2009 - Shares of most consumer staples companies rose on Wednesday after food maker General Mills Inc said it sees commodity prices easing.

US Pistachio Industry Looks Toward a Promising 2009 Crop Year Fresno, Calif., July 1 - With the 2009 pistachio harvest little more than two months away, pistachio growers and processors are anticipating a promising crop year with production expected to exceed 2008 levels. Growing conditions have been excellent and are expected to yield a high-quality crop of nutrient-rich pistachios to meet increasing demand.

Argentines Give Up Tea-Sharing as Flu Spreads Buenos Aires, July 2 - An outbreak of the deadly H1N1 flu strain is leading some Argentines to change one of their favorite habits: sharing a steaming gourd of herbal tea with friends.

Wednesday's Headlines 01/07/2009

NFU Praises Investment by First Milk in Securing Dairy Jobs July 1 - The NFU has praised the move by First Milk to open a new creamery in Scotland The investment will secure the future of 40 dairy farms and around 100 jobs.

China Should Tighten GM Rice Tests on Exports Brussels, July 1 - China needs to tighten controls to ensure that none of its rice exports contain traces of a biotech strain not authorised in the European Union, the EU's executive Commission said in a report on Wednesday.

Carrefour Cost Cuts Buy Time, Answers Still Needed London/Paris, July 1 - Carrefour's huge 4.5-billion-euro ($6.3 billion)savings programme buys Europe's No.1 retailer time to turn itself around, but investors may want more details on strategy before pushing the shares much higher.

Dow to Cut Ethylene Production; Remains on Track to Reach USD 1.3 Bln in Cost Savings Related to Rohm and Haas Acquisition July 1 - The Dow Chemical Company announced today that on June 30, its Board of Directors approved a restructuring plan which calls for the shutdown of a number of manufacturing assets, including ethylene and ethylene-derivative assets in the Company's basics portfolio.

Mississippi Firm Recalls Pre-Packaged Meal Products Due To Possible Salmonella Contamination Washington, July 1, 2009 - Traditions, a Pearl, Miss., establishment, is recalling an undetermined amount of various boxed pre-packaged meal kits.

Constellation Brands Reports Q1 Fiscal 2010 Results Victor, N.Y., July 1 - Constellation Brands, Inc., the world's leading wine company, reported today its fiscal 2010 first quarter results.

European Spirits Producers Applaud Turkey Spirits Tax Reform Brussels, 1 July 2009 - An agreement between the EU and Turkey has significantly improved prospects for importers of spirits drinks in Turkey, a key emerging market for producers.

Ball to Acquire Four Beverage Packaging Plants From AB InBev Broomfield, Colo., July 1 - Ball Corporation announced today that it has signed a definitive agreement with Anheuser-Busch InBev (AB InBev) to acquire certain of AB InBev's beverage can manufacturing assets.

Diageo Announces Further Restructuring and Updates on Existing Initiatives 1 July 2009 - Diageo has identified further restructuring opportunities which are expected to give rise to cost savings of approximately £40 million per annum in the year ending 30 June 2012.

General Mills Achieves Record-Level Results in FY09; Expects More Growth in FY10 Minneapolis, Jul. 1 - General Mills today reported strong financial results for the fourth quarter and full 2009 fiscal year.

French Restaurants Prepare for VAT Cut Paris, June 30 - French restaurants prepared to cut prices on meals and soft drinks ahead of a new lower sales tax rate that comes into effect on Wednesday after years of lobbying European partners by successive governments.

Private Equity Firms in Talks on United Spirits Stake Mumbai, July 1 - India's United Spirits , the world's third largest spirits maker, has received term sheets from private equity firms Blackstone , KKR and Capital International interested in buying a stake worth $250-300 million in the company, the Economic Times said on Wednesday.