Major state-owned company of China, Bright Foods Company, is reportedly opening a permanent office in Sydney, signaling an intention to expand its Australian operations. The reports come after the Chinese food group’s acquisition of a 75% stake in Australian food manufacturer Manassen Foods has been approved by the Australian Foreign Institute Review Board. Bright Foods is one of China’s largest dairy producers and a major manufacturer and distributor of consumer food products. The company... ...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 »

Food Standards Australia New Zealand (FSANZ) has announced the recall of ‘Good Luck Dried Seaweed Stripe’ following concerns over high levels of naturally occurring iodine in a batch of the product. The Chinese seaweed product, imported by Melbourne-based Lay Brothers Pty Ltd, has been on sale at grocery stores in Springvale, Box Hill, Footscray and St Albans, in Victoria. The product in question is sold in a 150g plastic bag and has a ‘Best before’ date of 07/09/2013. In a statement today,... ...Read more »

Research published today by market research organisation, IBISWorld, predicts that Australians will spend A$25.4 Billion on alcoholic beverages in 2011-12. According to the research, Australians are increasingly choosing premium alcoholic drinks over traditional beers. The report predicts that alcohol spending in Australia will increase by 15.3% over the next five years, reaching A$29.3 Billion in 2016/17. IBISWorld General Manager (Australia) Karen Dobie said that while Australia’s alcohol consumption... ...Read more »

The 2011 total winter wheat crop is expected to be Australia’s third-largest on record, according to a new industry report released by specialist agribusiness bank, Rabobank. Rabobank estimates the wheat crop at 25.6 million tones for winter, despite variable crop conditions along the east coast and in South Australia. The expected increase in Western Australian production should compensate for the anticipated fall in the East Coast production. Rabobank senior analyst Dean Smith said that Spring... ...Read more »

Researchers from Australia and China are collaborating to improve global food security by mounting a scientific counterattack on the pests and diseases that ravage food and tree crops. The Australian Cooperative Research Centre for National Plant Biosecurity (CRCNPB) is working with two leading Chinese science agencies and a university to curb losses of grain and other vital crops to insects, moulds and plant diseases. The CEO of CRCNPB Dr Simon McKirdy described the collaboration as making good... ...Read more »

The National Australian Bank (NAB) today predicted Australian sugar production levels for 2011-12 will be between 3.8 and 3.9 million tonnes. According to the NAB, this amount is not as high as Australian sugar producers will have hoped. The news coincides with a current surge in Chinese investor interest targeting Australia’s lucrative sugar industry, recently reported by Australian Food News. NAB Agribusiness Economist Michael Creed said, “In Australia it has been a very difficult season... ...Read more »

Foreign investors continue to target Australia’s lucrative sugar industry, as Chinese-owned Tully Sugar Limited vies with Singapore-based conglomerate Sucrogen to purchase Queensland’s Proserpine Co-operative Sugar Milling Association Limited (PCSMA). The PCSMA, a co-operative sugar mill that is wholly-owned by 214 sugarcane suppliers, is Australia’s fifth-largest raw sugar mill. Tully Sugar Limited, which is owned by the China Oil and Food Company (COFC), already produces raw sugar for export... ...Read more »

The Coca-Cola Company and its Chinese bottling partners today announced a new investment of US$4 billion over the next three years, commencing 2012. By the end of 2011, Coca-Cola and its China bottling partners Swire Beverages Ltd. and COFCO Coca-Cola Beverage Co. Ltd. will have invested more than $3 billion in China over the last three years, bringing the total investment to $7 billion between 2009 and 2014 in the largest and fastest-growing consumer market in the world. Chairman and CEO of The... ...Read more »