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Friday's Headlines 16/05/2008

Metro CEO Says to Keep Real, No Word on Kaufhof Sale Düsseldorf, May 16 - Metro AG, Germany's biggest retailer, has no plan to sell its restructuring Real hypermarket chain and has not yet entered concrete talks to divest its Galeria Kaufhof department stores.

Arca Expands Its Participation in Argentina Monterrey, N.L., Mexico, May 16, 2008– Embotelladoras Arca, S.A.B. de C.V. (“Arca” or “the Company”), the second-largest Coca-Cola bottler in Mexico and Latin America, announced today that it has signed a purchase agreement with the shareholders of the Coca-Cola franchise in the northeast region of Argentina(the “Bottler”), and will assume control shortly.

US: FDA Shuts Down Seafood Processing Company, Requires Products Be Recalled 16 May 2008 - The U.S. Food and Drug Administration today directed Hope Food Supply Inc., a Pasadena, Texas, food processing company, to shut down and immediately recall all products manufactured from its Texas facility since 2007.

Lifeway Foods Clarifies Recent FDA Enforcement for Pennsylvania Facility

Plzensky Prazdroj Financial Results for the Fiscal Year

Cadbury to Invest GBP30 Million in Ghana Cocoa Farming 16 May 2008 – Cadbury has announced a £30 million investment package for Ghana as part of the Cadbury Cocoa Partnership, according to the government of the Western Africa country.

Rising Freight Costs Increase Inflationary Pressure on Foodstuffs, Grains and Commodities 16 May, 2008 – Soaring freight costs - driven by panic buying of foodstuffs and massive demand from China to import iron ore – are adding further inflationary pressure to the price of basic commodities, experts warn.

Billionnaire Buffet's Berkshire Raises Stake in Kraft 16 May 2008 – Berkshire Hathaway Inc., Warren Buffet's investment company, reported that it raised its stake in Kraft Foods Inc., from 132.4 million shares to 138.8 million.

Dasani, Aquafina and Nestle Water Brands Strengthen US Bottled Water Market Leadership in 2007 16 May 2008 - The world's top consumer of bottled water, the United States consumed 8.823 million gallons in 2007. Compared to 2006, US consumption grew 6.9%.

EU Commission Extends Inquiry into AB Foods Deal Brussels, May 16 - The European Commission has extended its competition review of plans by Associated British Foods to buy some assets and subsidiaries of GB Ingredients BV of the Netherlands, the EU executive said on Friday.

Wal-Mart to Serve Food in Small-Format Stores: Report New York, May 16 - Wal-Mart Stores Inc intends to prepare and serve food in its planned small-format stores, the Financial Times said on Friday, as it competes with British retailer Tesco's Fresh & Easy markets.

Lifeway Foods Reports Record 1st Quarter 2008 Results

RFM Income Up by 8% in First Quarter May 15 - Food and beverage company RFM Corporation disclosed yesterday its first quarter results, where it posted net income of P67.3 million, or an increase of 7.6% over the P62.6 million achieved for the same period last year.

Forbes Medi-Tech Announces Corporate Restructuring

Synear Food Holdings Limited: First Quarter Financial Statements for the Three Months Ended 31 March 2008

Food Empire 1Q Profit Jumps 24.0% Singapore May 13, 2008 – Mainboard listed Food Empire Holdings Limited (Group) – a leading food and beverage manufacturing company – today announced a 24.0% increase in profit after taxation and minority interests for the first quarter of 2008.1

Arla Move Will Boost British Dairy Farming - NFU May 14 - The formation of a joint venture company by Arla Foods Milk Partnership and Arla Amba will provide a boost for British dairy farmers, the NFU said today.

Fonterra One of Few Companies Capable of Tapping Global Trend May 15 - Potential success and benefits on a “new scale” for New Zealand, says Chairman.

Belvédère: Year Off to a Good Start May 15 - During the first quarter of 2008, Belvédère had sales of Euro 266.9 million, up 28.9%. On a constant basis, business grew by 10.2%.

Unilever will Increase Prices in 2008 “As Necessary”; Targets Major Growth in Asia, Africa and Latin America 16 May, 2008 - Food giant Unilever has become the latest multinational to confirm it will raise its prices this year “as necessary” as it seeks to offset soaring commodity costs. The company also expects to emerging markets in Latin America, Asia and Africa to account for more than half of the company's business by the end of 2011.

Mexico Tortilla Prices Stable Despite Forecast Hike Mexico City, May 15 - Mexican tortilla prices were steady on the streets of the capital on Thursday, despite warnings from an industry group of an imminent price hike that rattled bond investors.

Vietnam '08/09 Coffee Output 21.5 Million Bags - Attache Washington, May 15 - Vietnam's coffee production is forecast to rise to 21.5 million (60-kg) bags during the 2008/2009 crop year, a U.S. Agriculture Department attache in Hanoi said on Thursday.

Dairy Farmers Says Parmalat Seeks Bid Clearance Melbourne, May 16 - Australian dairy producer Dairy Farmers said on Friday that Italy's Parmalat A spokesman for Parmalat earlier told Reuters it had lodged the request with the Australian Competition and Consumer Commission.

LAEP Announces Results and Moves Ahead with Its Consolidation Strategy

Chile Retailer Falabella Sticks to Investment Plans Santiago, May 15 - Chile's Falabella, one of the region's largest retailers, said on Thursday slower global economic growth is not affecting its investment plans.

Jamba Announces Organizational Changes and Store Development Reductions Emeryville, California, May 15 - Jamba Juice, the leading blender of fruit and other naturally healthy ingredients, today announced that it is reorganizing its support functions and closing several underperforming stores.

Cargill Sees New Sweetener on Market in '08 New York, May 15 - Agribusiness and commodity trading group Cargill Inc said on Thursday that it expects its no-calorie sweetener made from a South American shrub to be on the U.S. market by the end of the year.

Peltz's Trian Raises Cheesecake Factory Stake Washington, May 15 - Activist investor Nelson Peltz on Thursday disclosed that his Trian Partners fund had increased its stake in restaurant chain Cheesecake Factory Inc to 3.2 million shares.

US: FDA Takes Action against Cream Cheese Companies after Repeated Violations

Russian Watchdog Wants Auchan Kicked Off Land Moscow, May 15 - French retail giant Auchan has come under fire from Russia's general prosecutor and environmental watchdog, which said on Thursday the firm was in "gross violation of the law".

US Rice Falls Hard on Big Crop Outlook Chicago, May 15 - U.S. rice fell further on Thursday amid outlooks for a big global rice crop this year that triggered a slide from the record high set just three weeks ago, traders said.

Carlsberg Discounts $6.3 Billion S&N Rights by 40 pct Copenhagen, May 16 - Danish brewer Carlsberg announced a deeply discounted 30.5 billion crown ($6.3 billion) rights issue to repay a bridging loan used to buy UK-based rival Scottish & Newcastle, in line with January's plans for the deal.

REWE Group Adds Warehouse, Making Hildesheim the New Logistics Hub Hildesheim, May 15 - With the initial operation of the 20,000 square-metre warehouse in Hildesheim scheduled for early 2009, REWE Group is continuing to optimise its warehouse logistics for REWE-Commercial Wholesale Customer Service (REWE Großverbraucher-Service – GVS).

Thursday's Headlines 15/05/2008

Nestle Aims for Faster Growth in Eastern Europe London, May 15 - Nestle SA, the world's largest food group, said on Thursday it aims to increase growth from its central and eastern Europe (CEE) region with the aim of seeing one fifth of its European sales coming from the area.

V&S and Fortune Far Apart on Jim Beam Stake Price Stockholm, May 15 - Vin & Sprit and Fortune Brands are far from agreeing a price for the former's stake in bourbon maker Jim Beam, V&S said on Thursday, which Swedish media said could delay Pernod Ricard's acquisition of V&S.

Israel Citrus Semi Annual 2008 15 May, 2008 - In 2007/08, citrus production in Israel is forecast at 580,000 tons, an 8 percent decrease compared to the previous year. The lower harvest was a result of the cold spell that hit Israel mid-January 2008, which destroyed about 50,000 tons of citrus.

ThaiBev to Buy 43.9% Stake in Japanese Restaurant Group Oishi 15 May 2008 - Thai Beverage Public Company Limited (ThaiBev), Thailand's largest alcohol beverage company, said it has signed a memorandum of understanding to acquire a 43.9% stake in Oishi Group PCL for about THB3 billion (USD 93.8 million).

Thai Beverage Public Company Limited: Financial Statement for the Three-Month Period Ended 31 March 2008

FAO Sees Food Prices Staying High for 2-3 Years Ottawa, May 15 - Food prices should stay high for the next two to three seasons but should eventually ease as stocks are replenished, the Food and Agriculture Organization (FAO) said on Thursday.

Fonterra to Double Yoghurt Output at Sri Lanka Plant 15 May 2008 - Fonterra of New Zealand is investing $NZ 14.6 million (USD 11 million) to double its yoghurt production in Sri Lanka.

Fortune Brands CEO Bullish on Drinks, Housing New York, May 14 - Despite a faltering U.S. economy, the new chief executive of Fortune Brands Inc is optimistic about the fundamental health of his company's business, which sells consumer products ranging from bourbon and golf balls to windows and faucets.

New Scientific Studies Establish the Safety of Rebiana, a Sweetener from the Stevia Plant Atlanta and Wayzata, Minnesota, May 15 - Research published electronically today in the peer-reviewed scientific journal Food and Chemical Toxicology clearly establishes the safety of rebiana (common or usual name for high-purity Rebaudioside A from stevia) for general use to sweeten foods and beverages, according to experts at Cargill and The Coca-Cola Company.

EU Import Restrictions on Indian Guar Gum Come into Force 15 May, 2008 – Tough new rules imposed by the European Commission on Indian guar gum imports have come into force after a dioxin contamination incident last year. Guar gum is used as an additive in a range of foods.

Rural Affairs Minister for Wales Officially Inaugurates Whey Processing at Haverfordwest May 15 - First Milk's £3 million investment in new whey¹ processing equipment at its Haverfordwest creamery in Pembrokeshire, was officially inaugurated today (May 15th) by Elin Jones, Rural Affairs Minister for Wales.

Baltika Develops Business Abroad May 15 - Today, May 15th a contract was signed between Baltika Breweries and Brasseries Internationales Holding (Eastern) Ltd (BIH Eastern) for the purchase of Baku-Castel brewery. The deal will come into force after receiving approval from the anti-monopoly authorities of Azerbaijan.

Cyclone Damage to Myanmar Rice May Flare Prices Kuala Lumpur, May 15 - Cyclone damage to Myanmar's rice crop could stir up prices, which have shown signs of easing after forecasts of a record global crop calmed nervous markets.

China Freezes Prices in Quake-Stricken Areas Beijing, May 15 - China has imposed temporary controls on the prices of food and transport in areas affected by this week's 7.9 magnitude earthquake, aiming to prevent hoarding and speculation, state media said on Thursday.

SunOpta Provides Ongoing Update on Activities Related to 2007 Earnings Results

Olam International Reports 38.5% Growth in Q3 FY2008 Net Profits Singapore, May 15, 2008 – Olam International Limited (“Olam” or “the Group”), a leading global, integrated supply chain manager of agricultural products and food ingredients, today reported a year-on-year 38.5% growth in Net Profit After Tax to S$55.9 million for the third quarter ended March 31, 2008 (“Q3 FY2008”).

Nichols plc: AGM Statement & Board Appointment May 14 - John Nichols, Non-Executive Chairman of Nichols plc, the soft drinks group, will make the following statement at the Group's Annual General Meeting to be held later today: