PACKAGED FOOD
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.
Delivery boxes unhealthy: Nutritionist calls out Swiggy and Zomato over plastic containers; Zomato CEO responds
Celebrity nutritionist Luke Coutinho recently called on food delivery platforms Swiggy and Zomato to switch to biodegradable, non-plastic containers for food packaging. Highlighting the health risks of using plastic, especially for hot foods, Coutinho's appeal emphasized the need for safer food delivery practices. Zomato CEO Deepinder Goyal responded positively, promising to highlight restaurants that use food-safe packaging, while Swiggy is yet to respond.
As Indians acquire healthier tastes, food companies pack it in
Indians are increasingly shifting towards consumption of low-salt, low-sugar, and nutrition-fortified packaged food, reflecting a growing trend towards healthy eating habits. Sales of such products have risen in the last five years, with urban India leading the shift, although rural areas are also seeing an increase. This shift is driven by concerns over high levels of sugar, salt, and fat in processed goods, amidst rising health issues like diabetes and obesity.
Food companies can't claim '100% fruit juice': FSSAI
The Food Safety and Standards Authority of India (FSSAI) has mandated that all food companies immediately stop labeling and advertising reconstituted fruit juices as ‘100% fruit juice’. FSSAI noted that many food businesses have falsely marketed reconstituted fruit juices as ‘100% fruit juice’.
Cheeni kum: Fresh dietary guidelines try to hit sweet spot
The National Institute of Nutrition (NIN) and the Indian Council of Medical Research (ICMR) have recommended sugar content thresholds for packaged foods and beverages for the first time. This move could potentially impact most branded soft drinks, juices, cookies, ice-creams, cereals, and other items available online and on shelves. The NIN-ICMR dietary guidelines have been revised after 13 years.
Wai Wai maker CG Foods set to cut salt by 10-25%: CEO
The move comes amid tighter regulation and heightened scrutiny on packaged foods. "What the government is doing (in terms of regulation) is definitely welcome; it is positive for consumers, and positive for the ecosystem and a responsibility of all organisations towards consumers," Manvendra Amber Shukla said.
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.
Retailers cut stocks of impacted spice brands like MDH and Everest
About a third (32%) of retailers are limiting stocks of MDH and Everest branded packaged spices alleged to have contaminants exceeding permissible ethylene oxide levels, according to Kirana Club, which has 1.8 million kirana stores on its network.
Authorities inspect Everest & MDH units after ban on spices by Singapore & Hong Kong
Indian authorities address ethylene oxide bans on Everest and MDH. Spices Board mandates ETO testing, recalls products. Global ETO limits vary, supply chain and country-specific norms crucial for compliance.
Nestle India shareholders vote against increase in royalty to Swiss parent
Shareholders of Nestle India Ltd have turned down the company's proposal to raise the royalty payout to its Swiss parent. The resolution did not pass, with 57% of its shareholders voting against the plan, the packaged foods maker said in a stock exchange filing on Friday. The proposal was to increase the royalty by 0.15% of sales for each year over a duration of five years.
From Bikaner to Blackstone: The success story of humble Haldiram's
Since 2016-17, several private equity firms including General Atlantic, Bain Capital, Capital International, TA Associates, Warburg Pincus, Everston have been talking with the Agarwal family for a minority stake or a controlling one. Haldiram's journey from humble beginnings with a bhujia recipe to a billions-dollar empire is the stuff of business legends.
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.
Label claims on packaged food could be incorrect & incomplete: ICMR
The Indian Council of Medical Research (ICMR) has cautioned that food labels on packaged items can often mislead consumers, urging them to carefully read information to make informed choices, as stated in the recently issued dietary guidelines. The report highlights that health claims on packaged foods may not always accurately reflect their nutritional content, with some products making incomplete or incorrect claims. For instance, products labeled as 'natural' or 'real fruit' may contain additives or minimal fruit content. Additionally, terms like 'organic' and 'sugar-free' can be misunderstood, leading to misconceptions about their health benefits.
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.
PepsiCo trials for well-oiled India chip machine on
PepsiCo India is experimenting with replacing palm oil and palmolein with a blend of sunflower oil and palmolein in Lay's, the country's largest potato chip brand. This comes amid backlash over the use of cheaper, unhealthy ingredients in packaged foods in India. In the US, PepsiCo uses "heart healthy" oil like sunflower, corn, and canola oil for Lay's. The India unit is also working to reduce salt in its snacks to less than 1.3 mg of sodium per calorie by 2025.
Cerelac has half the permissible limit of added sugar as set by FSSAI; allegations are racially stereotyped and untrue: Nestle India chairman
Nestle India Chairman & Managing Director, Suresh Narayanan, refuted allegations of racial stereotyping in the company's infant food formulation, asserting it's done globally. He stated the sugar content in Cerelac is within FSSAI limits and necessary for nutrition. Narayanan emphasized that local variations are based on regulatory needs and raw material availability, denying any racial bias. He highlighted a reduction in sugar content over the years and stressed adherence to global standards.
MDH says its products are safe; rejects pesticide allegations
The CFS asked consumers not to buy and traders not to sell MDH's Madras Curry Powder (spice blend for Madras curry), Everest Fish Curry Masala, MDH Sambhar Masala Mixed Masala Powder, and MDH Curry Powder Mixed Masala Powder.
Branded packaged staples regain favor among consumers amid commodity price decline
This has pushed up the volume or number of units sold growth rate of packaged staples in commodities where prices have fallen as compared to the loose market – in a reversal of trend during FY22 and FY23 when consumers had shifted to loose products due to sky high inflation.
Samara, consortium of investors set up $150-million platform for packaged foods
The platform will be similar to Sapphire Foods, which Samara Capital had set up for food services, which operates Yum! Brands' quick-service restaurant (QSR) chains KFC and Pizza Hut in India. The Samara Capital-backed platform, to be called Agro Tech Foods, has begun with Sundrop edible oil, peanut butter and ACT II popcorn as its first brands.
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