Food Industry Archive

It’s been a pretty lousy year for food and beverage industries, in absolute terms. Food company stocks dropped 27 percent, and beverage stocks dropped 21 percent. But if you step back and take a bigger-picture view, food and beverage companies are actually in pretty good shape, compared with the rest of the market. The sinking economy sent more consumers to grocery stores, where private...

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PepsiCo, Beckham Part Ways The decade-long endorsement relationship apparently ended amicably. Soccer star David Beckam said he has “nothing but good memories” of being paid millions to lend his name to Pepsi’s products. [Source: Reuters] Chinese Dairy Exec Pleads Guilty Tian Wenhua, head of Sanlu Group, admitted knowing the company’s products were tainted for months...

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Kraft last week launched the food industry’s first branded application for the iPhone. The iFood Assistant provides more than 7,000 recipes, creates editable shopping lists and gives directions to local grocery stores. Users can rate the different recipes and provide feedback. And, naturally, while they’re waiting for the information they want, they can see picture ads for various...

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Iowa considers banning junk food in schools — The state’s Board of Education is considering new rules that would remove junk food from public school cafeterias and vending machines. The board is scheduled to vote on the recommendations in February. [Source: AP] Two Thirds of U.S. Bottles Not Recycled — A report by the Container Recycling Institute says that only one third of...

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Mexico Lifts Import Bans — Mexico had suspended shipments from 30 U.S. plants, citing sanitary conditions. Some analysts have said the move was in retaliation for new labeling requirements, but both Mexico and the USDA deny that. [Source: Reuters] Black Sea Wheat Exports Surge — Countries such as Ukraine and Russia are fast becoming major players in wheat markets. The region is...

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The American Family Association is not happy with Campbell’s. The soup company started advertising its Swanson broth this month in the Advocate, a gay and lesbian magazine. One of the ads features a lesbian couple cooking with their son, while others show gay New York chefs. A cynic might say that Campbell’s has simply recognized that the queer community is full of people who might...

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Christmas may be over, but family farmers — and big agribusiness like ConAgra, Cargill and ADM — found a big present under the tree this season in the form of lower oil prices. Commodity prices have been insanely volatile over the past 18 months. Prices for soft white wheat, for example, spiked as high as $15.12 a bushel in January 2007, only to collapse to around $4.70 by...

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U.S. meat rejected at Mexican border — Mexico has unexpectedly blocked meat imports from 30 plants in the U.S., including those of major processors like Tyson, Cargill and Smithfield. No official reason was given, but the move may be retaliation for U.S. country-of-origin labeling laws. [Source: AP] Six go on trial in China for melamine — The men are accused of manufacturing and...

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Starbucks stops guaranteeing 401(k) contributions — The coffee shop chain said that starting Jan. 1, it will not necessarily match employee contributions to 401(k) retirement accounts. Instead it will switch to a “discretionary” program, meaning the company can elect whether or not to match contributions. [Source: Wall Street Journal] Cadbury sells off last drinks division...

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FDA ‘Scolds’ Coke Over Label Claim –The agency sent a warning letter to Coca-Cola about its Diet Coke Plus drink. The label says “Diet Coke with Vitamins and Minerals,” but doesn’t contain enough of either to justify the claim, the FDA says. [Source: AP] Wal-Mart to Settle Suits –The world’s largest grocer will pay up to $640 million to settle 63...

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