Trade Minister Simon Crean has announced the appointment of Peter Grey as the new Chief Executive Officer of the Australian Trade Commission (Austrade). Mr Grey has extensive experience both in Australia and overseas in prosecuting Australia’s trade and commercial relationships, the Minister advised. He is presently the Australian Ambassador and Permanent Representative to the World Trade Organization (WTO) in Geneva. “Throughout his career Mr Grey has worked closely with Australia’s... ...Read more »

The performance of burger chain McDonald’s has again highlighted the resilience of fast food, with relatively cheap convenience at the forefront of customer minds. Global comparable sales were up 2.8 per cent year-on-year, with Europe (+5.2%) the best performed region. Revenue growth was more subdued in the fourth quarter, however, with comparable sales up 2.3 per cent. “McDonald’s 2009 results reflect the broad-based strength of our global business,” McDonald’s Chief... ...Read more »

The world’s largest brewer has finally managed to reach a deal with unions that will stop the blockades at their Belgian plants after two weeks of production cuts. Supplies of Anheuser-Busch InBev’s local brands have steadily fallen as unions in Belgium organised blockades at three plants in response to plans for a ten per cent reduction in the workforce. After two failed mediation attempts, the two sides reached an agreement on Thursday night that will end the strike action. The deal... ...Read more »

The ACT Government has today outlined its new supermarket policy, which they argue will offer Canberra’s grocery shoppers “more choices, more suburban supermarkets and potentially cheaper prices”.Chief Minister and Minister for Business and Economic Development Jon Stanhope said the plan would guide future supermarket development and, in particular, address a shortage of larger, full-line independent supermarket stores in central Canberra and Gungahlin. “This Implementation... ...Read more »

UK groery chain Waitrose is trying a novel approach to reducing their carbon footprint by adding a Bakewell tart smell to its refrigeration gases. The cherry Bakewell scent – cherry and almond – is used in the HFC (hydro fluorocarbon) gases in fridges, which have a high global warming potential if leaked. The distinctive smell means any leaks would be immediately ‘sniffed out’, helping to cut the retailer’s environmental impact. Waitrose hopes the new initiative will... ...Read more »

Food ingredients firm Viterra has reported a 39% drop in profit in 2008, as lower commodity prices hurt margins. Higher volumes of grains and oilseeds sold, however, ensured revenue was close to the record performance of the year prior (-2.9%). The Canadian firm, which is also listed on the ASX, said the full year results reflected “record grain shipments, a leveling of gross margins per tonne and the impact on contributions from a significant decline in fertilizer margins”. “Fiscal... ...Read more »

The Federal Government is set to amend the Trade Practices Act to deal with creeping acquisitions, in a bid to limit the market power of the major retailers. The move will ensure the Australian Competition and Consumer Commission (ACCC) has the ability to reject acquisitions that would substantially lessen competition in any local, regional or national market, Competition Minister Dr Craig Emerson said. “This comes after private legal opinion questioned whether the ACCC has the power to consider... ...Read more »

A farm in Tasmania’s north has begun producing heart shaped strawberries that are in heavy demand ahead of Valentine’s Day. Josh Engwerda, a 22 year-old engineering graduate from Melbourne, forged the idea while gardening at home, with his inspiration coming from square shaped watermelons found at prohibitive prices in Japan. “I’d seen square-shaped watermelons in Japan and then I was gardening with my strawberries and something just clicked,” he said, according to... ...Read more »

As UK consumers throw their arms up in despair at Kraft’s takeover of a British icon, we take a look at the impact of the $21 billion deal in Australia… Market power Kraft and Cadbury are both among the top 15 food grocery suppliers in the country with a combined portfolio of brands that will have a significant portion of the confectionery, biscuit, processed cheese and spreads sectors. A limited amount of overlap, however, has meant that Australia’s competition watchdog has given... ...Read more »

Emerging global cuisines are opening up a whole new world of culinary experiences to consumers of all ages due to the nearly infinite range of ingredients, forms and flavours they offer, according to Emerging Global Cuisines: Culinary Trend Mapping Report from the American-based Center for Culinary Development (CCD) and Packaged Facts. According to CCD, leading emerging global cuisines include Peruvian, Moroccan, Korean, and Japanese. Driven by a host of forces, such as immigration, international... ...Read more »