The National Australia Bank (NAB) in its latest Rural Commodities Outlook  wrap  issued on 22 December 2011 has reported that apart from the weakening global economy, there is also a very strong production response hitting world agricultural commodity markets. Australian rural production  is on track for  massive winter crops in 2012 because of good rains adding to downward pressure on prices.  At  the same time, sugar and cotton production growth in Australia have also been part of the general... ...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 »

Australian dollar hits parity with US dollar, could hit 1.05 USD in coming months Cotton hits record price on strong Chinese mill demand and downgrades to global production Sugar prices could hit 30 USc/lb on near term supply concerns NAB’s outlook for the Australian economy remains unchanged since last month, with Australian economic growth of 3.25 per cent expected in 2010 and 3.75 per cent expected in 2011. Consistent with a multi-speed economy, forward indicators are generally mixed.... ...Read more »

Rising living standards, burgeoning incomes and changing consumer demographics have spurred the demand for quality products across consumer market segments including confectionery products in China. Globally, the confectionery markets appear to have been most affected by the economic recession as well as a concurrent trend of health consciousness. With alarming statistics of diabetes patients in various Asian countries, consumers are cautious of the ingredients, more specifically of the calories... ...Read more »

LAUNCHING its 2010 Federal Election Policy Platform today, the National Farmers’ Federation (NFF) slammed both sides of politics for perpetuating old mistakes and failing to seize initiatives to tackle emerging national issues – laying down the challenges and opportunities ahead. The NFF’s manifesto highlights policy failures and new opportunities that the next federal government must grapple with, encapsulated in four policy pillars: Population, Economy, Environment and Property. “The... ...Read more »

Boom: Aussie confidence, job prospects, personal finances and discretionary spending Gloom: Rising interest rates, escalating debt levels, increasing utility costs, and voter dissatisfaction The latest findings from Nielsen’s Global Online Consumer Survey for Quarter 1, 2010 reveal a tale of two outlooks among Australians. While we are still one of the most optimistic developed markets globally; with growing confidence in the job market, personal finances, and propensity to spend on discretionary... ...Read more »

Weight Watchers International has booked a drop in earnings for the first quarter, hurt by poor weather, a slowdown in the economy and “difficult” operating conditions.For the three months ended 3 April, the company earned US$44.6m compared to $47.3m in the prior year. First-quarter revenues also declined, by 4.5% on a constant-currency basis, to $388m. Operating income amounted to $91.4m, a 5% decline on the prior year. “The first quarter of fiscal 2010 proved to be one of the... ...Read more »

The Minister for Trade, Simon Crean, with his Indian counterpart Minister of Commerce and Industry Anand Sharma, yesterday welcomed the conclusion of the Australia-India Free Trade Agreement (FTA) Joint Feasibility Study.The Study recommends negotiation of a comprehensive bilateral FTA that includes trade in goods, trade in services, investment and other trade and investment facilitation and cooperation measures, as a single undertaking. Ministers Crean and Sharma endorsed the feasibility study recommendation... ...Read more »

Australia must adopt a national food waste strategy to ensure the long-term sustainability of the nation’s food supply, the Australian Food and Grocery Council (AFGC) said today at the launch of the NSW Government’s Love Food, Hate Waste campaign. While Australia’s leading food and grocery companies are already reducing waste, AFGC – an inaugural sponsor of the Love Food, Hate Waste campaign – urged all states and territories as well as households to adopt a similar... ...Read more »

Woolworths Ltd lowered its full-year sales outlook last friday in the face of food deflation and weakening consumer sentiment, despite posting a 4.7% increase in third-quarter sales.For the three months to 4 April, Woolworths said total sales increased to A$12.91bn, up from $12.33bn last year. Excluding fuel, sales gained 3.8%, the company added. The group reiterated its full-year guidance for profit growth in a range of 8-11%. However, Woolworths said that food deflation and the cycling of last... ...Read more »