FOOD INDUSTRY
‘Organic’ and ‘natural’? India’s $32 billion packaged food and beverage industry struggles with disclosures
The packaged food industry should be more upfront about the ingredients they use to make products. It is a question of public health, say experts.
Del Monte Foods announces Abhinav Kapoor as new CEO
Abhinav Kapoor was previously vice president, sales at VIP Industries, where he was overseeing P&L, multiple channels and sales, the company said in a statement, adding that Kapoor has over two decades of experience in sales and distribution within consumer businesses. He has previously held leadership positions at Cavinkare, Britannia Industries, Mondelez and Marico, the statement said.
India pitches for strengthening quality standards for spices
India actively supports global food standards at the Codex Alimentarius Commission session in Rome, emphasizing quality in spices, vegetable oils, and water reuse. The country's commitment to food safety, recycled materials, and addressing global challenges like climate change is evident in its participation and championing of guidelines.
Big fat Indian wedding: At Rs 10 lakh cr, expenses second only to food & grocery
The Indian wedding industry, worth around Rs 10 lakh crore (USD 130 billion), is second only to food and grocery. Hosting 8-10 million weddings annually, India leads globally. Weddings significantly impact multiple sectors, driving growth in jewelry, apparel, catering, and more. Despite economic classes, spending on weddings often exceeds education costs.
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ITC packs a punch, beats Britannia in foods business
ITC's foods business posted consolidated sales of Rs 17,194.5 crore for the fiscal year ended March 31, 2024, the company that owns brands such as Aashirvaad atta, Bingo potato chips and Sunfeast biscuits in the segment said in its latest annual report. This comprised both domestic sales and exports.
3 top stock recommendations from CA Rudramurthy BV
Let us see how even budget comes out and then take aggressive position. So, for sure, this is not the time to take aggressive position, not to be in high beta and one has to have reduced leverage and risk management will hold the key if you are a very short-term trader.
Sweet Profits, Bitter Reality: Who gains the most from the cocoa price surge?
The cocoa industry is facing significant shifts as cocoa prices soar, driven by poor harvests in West Africa. While prices have surged to record highs, small-scale producers in regulated countries like Ivory Coast and Ghana see limited benefits due to pre-set prices. Meanwhile, less regulated countries like Cameroon and Nigeria gain more from market trends. Major processors struggle with high costs and production slowdowns. Climate change, bean disease, and low farmer incomes exacerbate the situation, leading to child labor and land sales. Despite these challenges, major chocolate companies continue to report significant profits.
Andhra & Naidu stocks beating PSU & Modi stocks hands down with Rs 20,000 crore boom
Andhra Pradesh and Chandrababu Naidu-related stocks have surged significantly post-elections, outperforming PSU and 'Modi stocks'. Traders are capitalizing on the momentum, with a focus on Naidu's role in the NDA government and growth potential.
Tech-fuelled freshness: The future of the frozen food industry
Modern freezing techniques not only preserve the quality and freshness of food ensuring that consumers receive products with high nutritional value, but also cut down on the food wastage.
Edible oil prices rise 15% in a month
Companies like Adani Wilmar, Emami Agrotech, and Sunvin Group said while disruption in soyabean oil supplies from Argentina and Brazil is driving prices higher, mustard oil prices have risen as National Agricultural Cooperative Marketing Federation of India (NAFED) and Haryana State Co-operative Supply and Marketing Federation Ltd (HAFED) have purchased large quantities of mustard seeds.
Jubilant FoodWorks, Glenmark Pharma among 5 stocks with short covering
Short covering refers to the buying of shares in order to close an existing short position or a position that has been sold. Short covering signals a shift in view regarding a security from extreme bearishness to bullishness. In Monday's trading session, five stocks saw top short covering. Here's the list:
Election results in the onion belt increases hopes of industry and farmers for more farm friendly policies
"Soyabean prices have been low as the crushing of our own crop was less due to higher imports of cooking oils. Low import duties and low prices in the international markets led to a substantial increase in the import of cooking oils," said BV Mehta, executive director, the Solvent Extractors' Association (SEA).
Move on from fafda, paratha and cater to international quality: Food Processing Secy tells industry
Anita Praveen, Secretary, Ministry of Food Processing Industries, says the time has come to start manufacturing products that appeal to everyone's taste globally.
A dozen consumer companies line up IPOs amid a thriving stock market
India's primary market anticipates a dozen consumer-facing companies to launch IPOs this year to capitalize on market potential. Companies like Coca-Cola's bottling partner HCCB, CG Foods, Allied Blenders & Distillers, Urban Tots, Cremica Food, Patel's R Mart, PNG Jewellers, Baazar Style Retail, Unicommerce eSolutions, One Mobikwik Systems, and Swiggy are among those planning IPOs.
VC funds take a shine to new gen’s D2C brands
Direct-to-customer (D2C) startups founded by scions of traditional business families are raking in venture funding across sectors like food, apparel, and wellness. Investors see these entrepreneurs' deep understanding of the business and connections in the supply chain ecosystems as a recipe for modernising legacy businesses.
Food delivery, quick commerce take a bite out of QSR sales: brokerage reports
For the overall QSR industry, revenue growth for the final quarter of FY24 was at 9% on a year-on-year basis, down from 18% a year ago, while both same-store sales growth (SSSG) and average daily sales (ADS) declined, a report from brokerage firm BNP Paribas Exane said.
Exide Industries, Jubilant FoodWorks among 5 stocks with long buildup
A long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Tuesday's trading session, five stocks experienced a buildup of fresh long positions. Here's the list:
As India sizzles, rotten bananas expose a cold problem
India is the world’s largest producer of bananas, which are highly perishable. To keep fruit cool on the journey, they’re covered with leaves during transit. It’s far from a solution: India lost 1.53 trillion rupees ($18.4 billion) of food in fiscal year 2020-21, about a fifth of that from spoilt fruit.
Plant-based food cos urge FSSAI to ease 'milk' label rules for plant-based dairy alternatives
Sethi called for FSSAI's chief executive officer (CEO) to engage with the industry, exchange ideas and foster collaboration to support startups and product innovation against bigger players. He proposed setting up "Plant Protein Clusters" across states to facilitate collaboration between institutes, startups and the government.
12-year-old hospitalised in Bengaluru after eating liquid nitrogen paan. Here is why consuming it can prove fatal
A 12-year-old girl in Bengaluru suffered a stomach perforation after consuming liquid nitrogen paan, highlighting the dangers of food trends. The incident, which occurred in April, led to immediate surgery to prevent further complications. Liquid nitrogen, used for rapid freezing in the food industry, can cause severe burns and frostbite if ingested. Experts advise against its use in food and recommend educating customers about its risks. The case underscores the importance of understanding and safely handling innovative food practices.
Government aims to boost use of artificial intelligence in food processing
India aims to boost artificial intelligence (AI) in food processing to raise efficiency, support farmers, and cut environmental impact, officials revealed at a National Institute of Food Technology Entrepreneurship and Management (NIFTEM) conference. The government advocated for a roadmap to deploy AI tools in the sector, with the Ministry of Electronics and Information Technology Secretary showing support. Experts believe AI can enhance agricultural practices, improve produce quality, and aid India's goal of achieving net zero emissions by 2070.
It's crunch time: Blackstone teams up with ADIA, GIC for Haldiram Snacks bid
A non-binding offer has been submitted to buy up to 76% of co at $8.5 bn valuation; 87-year old Haldiram with roots in Bikaner, Rajasthan is India’s largest snack and convenience foods company. Delhi and Nagpur factions of the Agarwal family are merging their snacks and packaged foods business, demerging the restaurant operations.
Why are Indian spice companies facing global market heat, and what steps can regulators take to restore trust?
Global scrutiny on Indian spice industry post ethylene oxide contamination. Urgent need to enhance domestic market quality for export trust. Authorities and experts stress transparency and stringent measures for maintaining export integrity.
Colour used to to dye clothes allegedly mixed with turmeric and chilli powder at spice mill in Modinagar
A spice mill in Modinagar was found allegedly mixing industrial color with turmeric and chili powder to enhance their appearance. Officials seized 200kg of turmeric and 150kg of red chili powder. The spices were sold in bulk without any brand name. Samples are sent for testing. Adulteration of food products carries a penalty of up to Rs 5 lakh. Doctors warn that such adulteration can lead to serious health issues, including kidney and liver damage, and even cancer.
Patanjali Foods to evaluate proposal to buy Patanjali Ayurved's non-food business
The board also authorised officials to carry out due diligence, appoint professionals, negotiate the terms and conditions of the proposal, and report the findings to the Audit Committee and the board for further consideration. To strengthen its product portfolio, Patanjali Foods acquired the biscuits business of Patanjali Natural Biscuits Pvt Ltd for Rs 60.03 crore in May 2021.
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