After years of trying to rein in persistent overproduction by European farmers, the European Commission is now seeking to free farmers to respond to the skyrocketing global food prices and low stocks. The Communication document produced by the EU analyses structural and cyclical factors and proposes a three-pronged policy response, including short-term measures in the context of agricultural policy and in the monitoring of the retail sector; initiatives to enhance agricultural supply and ensure food... ...Read more »
The US Congress has passed a $290 billion farm bill, which will increase subsidies to US farmers and cut international aid programs. George Bush has threatened to veto the bill, however, but there is still a good chance it will be passed into law. Interestingly, the presidential candidates response to the bill were contrasting with John McCain critical, Hilary Clinton supportive and Barack Obama labelling it as “far from perfect”. According to an Associated Press tally less than... ...Read more »
The 2008 Vogue Entertainment + Travel produce awards were announced earlier this week at Sydney’s Aria restaurant. The awards, chosen by a leading group of chefs, food writers and broadcasters, are designed to find the best food suppliers in Australia according to Libby Travers, VE+T’s project manager. “Whether you’re a three-hat chef, or someone who enjoys cooking at home, these are the products you need to know about”, she was quoted as saying on the Vogue website.... ...Read more »
The Federal Budget was delivered on May 13 to a mixed response as the Government seeks to exhibit a fiscally conservative attitude to the Australian economy. There was consequently a mix of good and bad news for members of the food industry amidst a budget which delivered a record surplus of $21.7 billion. Food producers and manufacturers were winners to some degree but it appears food retail were provided with minimal benefit from the budget. Regional Food Producers Innovation and Productivity... ...Read more »
The Federal Budget always has great implications on businesses and provided below is a number of opinions from select industry groups. Australian Retailers Association The peak industry group in Australia’s retail sector has said that the budget delivers “the good, the bad, and the ugly” for Australian retailers. “By delivering on promises, Australians will benefit from tax cuts of $46.7 billion over four years which will hopefully flow back into a stalled retail consumer... ...Read more »
The National Farmers’ Federation (NFF) is set to give evidence to the ACCC’s grocery price inquiry today. The NFF suggest they have clear evidence that the gap between what farmers are being paid and what consumers are paying has been widening. Their evidence is likely to put more pressure on the ACCC to find out the true cause of the high prices currently being offered to consumers. Read More →
The ACCC inquiry into grocery prices will start today and will include a review of all members of the supply chain. The extent of competition in the industry is to be established at the supply, wholesale and retail level. With the perception amongst end consumers that they are being overcharged and with some farmers complaining that supermarkets are selling their goods at a marked increase to what they received for them the inquiry will certainly stimulate interest. The ACCC claims that the inquiry... ...Read more »