A commodities report released today by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), forecasts the value of farm exports will rise by around 6 per cent to A$34.5 billion in 2011–12, reflecting expected higher exports and relatively favourable agricultural prices. ABARES forecasts the demand for agricultural products in the Asian region is expected to remain strong, with more than 60 per cent of Australia’s farm exports to the Asian region in 2010–11. ABARES... ...Read more »

Two Australian food companies have been honoured for export achievements at the 49th Australian Export Awards. The Australian Export Awards, co-presented by the Australian Trade Commission (Austrade) and the Australian Chamber of Commerce and Industry, is one of Australia’s oldest business award programs. Victoria-based dairy company, Longwarry Food Park, won the Agribusiness Award. Longwarry Food Park exports milk powders and dairy-based products to Asia, Africa and the Middle East and has increased... ...Read more »

Tesco Lotus has opened Asia’s the first of its “zero-carbon” supermarket Asia, as part of its commitment to be a zero carbon business by 2050. Tesco Lotus is a major supermarket chain in Thailand, Cambodia and China. In Thailand, the stores are operated by the Ek-Chai Distribution System Co. According to Tesco Lotus, the new store in Bang Pra, Thailand, will put back into the Thai National Grid as much energy as it uses over the course of a year. Renewable fuel is converted into energy... ...Read more »

Australia is facing a huge glut of potatoes. Prices for potatoes for the Australian domestic market will soon drop below  farm production costs. Greengrocers and supermarkets are acquiring potatoes at bargain prices. We are constantly reminded by the Australian Government and its consultant experts that the world is running out of food. They tell us that Australia needs to produce more food for the impending famine faced by the world. Yet, we already have the scenario of many countries currently... ...Read more »

Potato growers across Australia are threatening to plough surplus potatoes back into the ground or leave them to rot in what is reported to be one of the biggest potato gluts in Australian history. Australian potato grower and Chairman of the Australian Potato Industry Advisory Committee, David Nix, has seen double the tonnage of potatoes on his farm in Atherton, Queensland, compared to last year. Mr Nix told Australian Food News today, “This year has brought a wave of excess potatoes across... ...Read more »

Whilst growth in the iced coffee market continues to be dominated by Asia, levels of interest elsewhere in the world appear to be growing according to figures released today by international research body, Innova Database. According to Innova, the demand for iced coffee drinks appears to be growing, not only geographically, but also beyond its original home in the foodservice sector of many countries, particularly the USA. Innova Database’s research found that Asia accounted for nearly three-quarters... ...Read more »

Australia’s only ASX-listed sugar miller, MSF Sugar (formerly Maryborough Sugar Factory Limited), is the latest Australian company to be targeted by a foreign investor, with Thai sugar company Mitr Phol proposing a A$4.45 per share takeover offer. Mitr Phol, which currently owns 22 per cent of shares in MSF Sugar, is one of the largest sugar producers in Asia, with an estimated market share of 19% in Thailand and 9% in China. The takeover agreement is subject to the satisfactory completion of limited... ...Read more »

A University of Sydney PhD student has discovered that a patient’s diet and cookery styles impacts on the required doses of medicines commonly used to treat illnesses such as depression and psychosis. Vidya Perera, a final year PhD student in the university’s Faculty of Pharmacy, found that people from South Asia could need lower doses of these medicines because they are likely to have lower levels of CYP1A2, an enzyme that metabolises drugs. Vegetables such as cabbages, cauliflower and broccoli... ...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 »

Malaysian private-equity fund Navis Capital has reportedly made the second round of bidding for Carrefour’s Singaporean and Malaysian assets. According to reports by Reuters, a source said Navis would not be bidding for Carrefour’s Thai assets. The retailer’s sale of its assets in Thailand, Malaysia and Singapore have been shrouded in secrecy, with the retailer denying the disposals, which could raise US$1bn for the retailer. However, the Financial Times and Wall Street Journal... ...Read more »