Food prices dropped by 1% in June as declines in sugar, cereals and dairy were more than enough to offset a rise in meat prices, according to the United Nations (UN). The UN’s Foodand Agriculture Organization (FAO) stated that the food price index, which measures monthly price changes in cereals, dairy, meat, sugar and oilseeds, averaged 211.3 compared with 213.2 in May, reported the DesMoinesRegister.com.
A new report defines and categorizes the food enzymes market with analysis and forecasting of the global size in terms of revenue. Valued at $1,335.8 million in 2012, the segment is expected to move up to $2306.4 million by 2018, with a compound annual growth rate of 8% for the forecast period.
Kraft Foods Group says it’s splitting its grocery business into a unit for meals and desserts and a division for sauces, nuts, snacks and dressings. Since the new Kraft launched, the company has focused heavily on turbocharging its iconic brands, CEO Tony Vernon says. It will add two standalone business units to focus its brand-building work.
The publicly-traded grocery-brand conglomerate is buying Pirate Brands, maker of Pirate’s Booty white-cheddar-cheese rice and corn puffs, for $195 million.
It’s been a slippery road this year. Impacted by a widespread drought, fluctuating commodity prices and a still-weak economy, bakers have been hit with some tough circumstances.
Tyson Foods is expanding beyond its familiar beef, pork and chicken products into the prepared foods arena by taking over Circle Foods, which produces enchiladas, burritos, quesadillas, tacos and more at a 159,000-sq.ft. plant in San Diego.
More than 100 years old, the famous Cracker Jack brand from PepsiCo's Frito-Lay division has evolved for today's consumers with modern prizes, more peanuts and exciting new flavors joining the fold.
Food makers are hoping to meet U.S. consumers’ desire for snacking healthy with nutritious options, with items like veggie chips, better-for-you bars and cereal-snack introductions.
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