Greek yogurt sales in the USA have increased by a staggering 2500 per cent in the last five years, making it one of the fastest growing products on the market. Figures from Swiss global financial services company UBS, show that Greek yoghurt brands are driving the vast majority of yogurt category growth in the USA, with sales growth exceeding 100% each year. According to UBS, in 2008 overall yoghurt category sales in the USA were dominated by traditional (non-Greek) yogurt, which represented 98%... ...Read more »

With the New Zealand-based dairy multinational Fonterra announcing a drop in profits from its organic dairy operations in New Zealand this week, Australian Food News has been investigating the current state of Australia’s organic dairy industry. Dr. Andrew Monk, convenor of the Biological Farmers of Australia (BFA) Standards Advisory Group says Australia’s organic dairy industry is a “small but growing industry”. “It faces a challenge in meeting the consistently growing demand for the product... ...Read more »

US-based global food company Heinz has reported a 6% decrease in net income to US$226.1m for the three months to 27 July 2011. The company’s results in emerging markets, including Asia, were stronger but results from developed Pacific markets were adversely affected by shrinking gross margins from house-branded competition within Australia, and the high Australian dollar impacting Australian-sourced exports. Heinz’s first-quarter report says costs relating to its global restructuring programme,... ...Read more »

Research by some Canadians published this week by the Journal of the American Medical Association suggests that when it comes to lowering LDL levels (the so-called ‘bad cholesterol’), what you eat is more important than what you don’t eat. Certain cholesterol-friendly foods can be more effective in lowering levels of LDL, or ‘bad cholesterol’ than foods merely low in saturated fats, according to the Canadian researchers. Led by Dr. David Jenkins, research chair in nutrition and metabolism... ...Read more »

The Australian Food and Grocery Council (AFGC) is urging the Federal Government to act quickly to keep Australia’s food manufacturing industry alive. The AFGC has called on the Australian government to “remove unnecessary regulation and duplication, such as food labelling changes, and reduce costs of doing business”. The AFGC also says it is “critical” that Australian government fast-tracks its National Food Plan. The AFGC’s CEO Kate Carnell says several food and grocery manufacturing... ...Read more »

Australia’s bluefin tuna industry chiefs are eager to see a higher catch quota permitted for southern blue fin tuna for the 2012 and 2013 fishing seasons. The quota is to be decided on by the Commission for the Conservation of Southern Bluefin Tuna (CCSBT) which met today in Sydney, Australia, to discuss future quotas. The commission is made up of delegates from Australia, Japan, Korea, New Zealand and Taiwan. Southern bluefin tuna fish are found throughout the southern hemisphere mainly in waters... ...Read more »

In its latest move to fend off a takeover bid by multinational brewer SABMiller, Australian brewing giant Foster’s Group Limited plans to return A$500 million to its shareholders through a share buyback or capital reduction. As well as announcing the buyback bid, Foster’s today released its full year results which show an 8.7 per cent fall in profit and a net loss of A$89 million for the year to June 30 2011. A strong credit profile and proceeds from the Ashwick tax case have led the Foster’s... ...Read more »

New Zealand-based dairy co-operative multinational Fonterra is cutting its dairy organic operations in New Zealand following a drop in profits. The dairy giant, which owns Australians brands Brownes Calcium Plus, Bega Cheese, Peters and Brownes, and Riverina Fresh, plans to reduce the number of organic suppliers. Fonterra employs 2,000 people in Australia, collects 21 per cent of Australia’s milk, and operates 11 manufacturing sites. “People less willing to pay the premium for organic products” Fonterra’s... ...Read more »

For most farmers, walking out into a field of crops to discover that their harvest has been infected by disease is a nightmare. For some corn farmers in Mexico though, it is a dream come true. A fungal disease, huitlacoche, that infects maize, has been dubbed the ‘Mexican Corn Truffle’. Also known as ‘corn smut’, it has become a delicacy eaten as a filling in quesadillas and other tortilla-based foods. Despite the disease feeding off the corn plant and rendering it inedible, as well as decreasing... ...Read more »

Australia’s huge agricultural commodity producers and price-watchers place much emphasis on long-term weather forecasting. Recent market predictions might be further impacted by recent predictions for an unusual La Niña-dominated wet weather pattern in eastern Australia for the Australian summer at the end of calendar 2011. La Niña to return? The latest data from Ocean Pacific weather predictors envisage La Niña conditions returning again to Australia for the second year running. The La Niña... ...Read more »