The Western Australian Government has announced a $178.8million investment package to bolster the state’s grain freight network.Premier Colin Barnett said the funding package would secure the Federal Government’s commitment of $135million announced in the 2010-11 Federal budget. With previously committed State funds, it brings the total investment in the grain freight network to $352million over four years. Mr Barnett said farmers and road users would all benefit from the move. “This... ...Read more »

International community must be aware of possibility of even higher food prices in 2011 International food import bills could pass the one trillion dollar mark in 2010 with prices in most commodities up sharply from 2009, FAO said yesterday. In the latest edition of its Food Outlook report, the agency also issued a warning to the international community to prepare for harder times ahead unless production of major food crops increases significantly in 2011. Food import bills for the world’s... ...Read more »

Coles is cutting the price of its free range eggs in a bid to help more customers afford the switch away from caged eggs. Prices on Coles Brand free range eggs will fall in all States from today with cuts of at least 18%. Coles also announced that it will phase out Coles Brand caged eggs by 2013. The move follows a clear message from customers that they want to buy free range eggs instead of caged eggs but are prevented from doing so because of the cost. Latest research shows that 95% of Coles customers... ...Read more »

Popularity of the ‘world beer’ category drives 25% growth. SABMiller announces that its UK subsidiary, Miller Brands, has delivered lager volume growth of 25% on an organic basis in the first six months of the financial year to September 2010. The Peroni Nastro Azzurro brand maintained its momentum, with growth of 22%. Growth in the emerging world beer category reflects increasing consumer interest in the provenance of brands, and is part of a global trend favouring craft and import products... ...Read more »

Effective immediately, Solae will increase prices of its high quality soy ingredients by 7-9 percent across the globe. Solae state that like many food companies, they have been affected by general inflationary pressure in the current economic environment, and the following significant global market dynamics affecting food manufacturers: - Global Producer Price Index is expected to increase by about 4.7 percent in 2010. - Producer Price Index is expected to continue to increase... ...Read more »

Carrefour has reportedly cancelled plans to sell its operations in Malaysia and Singapore.The retailer now plans to retain its 42 stores in Malaysia and two outlets in Singapore, according to reports in the Wall Street Journal. The French retail giant said it had decided to retain its presence in Malaysia and Singapore, after the planned auction did not attract bids that would have justified proceeding. “We have some very encouraging growth prospects in Malaysia. “We can create much more... ...Read more »

Cadbury has confirmed that it will “significantly” expand the production capacity for its confectionery portfolio in India. Officials for Cadbury India confirmed comments made yesterday (18 November) by managing director Anand Kripalu that capacity is a “challenge” for the firm and that the Dairy Milk maker will be looking to “drive up volumes”. Kripalu said the expansion will take place at the company’s existing six facilities in India but declined... ...Read more »

In a world first, the Australian pork industry voted today to voluntarily phase out the use of gestation or sow stalls by 2017. The vote, held yesterday at the Annual General Meeting (AGM) of Australian Pork Limited (APL), the industry’s peak representative body, is a major step for Australian pork producers. “The phasing out of gestation stalls will come at a significant cost to farmers, with initial modelling estimating it will cost up to $95 million,” said APL CEO Andrew Spencer. “To... ...Read more »

The Australian Competition and Consumer Commission yesterday announced that it will oppose the sale of supermarket chain Franklins to wholesale giant Metcash, on the grounds that it would create a monopoly in wholesale supermarket supply in NSW, and make it more difficult for another wholesaler to enter the NSW market. Metcash had announced its intention to purchase the 88 Franklins stores for $215 million, and then onsell them to independent retailers under the IGA brand, retaining supply rights. “Central... ...Read more »

Regulations in New Zealand, requiring Fonterra to supply up to 600 million litres of milk annually to independent processors, are costing the NZ economy up to $450 million by driving down farmgate prices, according to a report by the New Zealand Institute of Economic Research (NZIER). Fonterra accepted the obligation to provide raw milk to start-ups, small niche processors and processors supplying the New Zealand consumer market without their own milk supply. However, wide eligibility criteria mean... ...Read more »