Coca Cola reports strong volume growth with 6% rise in organic revenue

USA - The Coca-Cola Company reported strong operating results in the third quarter, recording 6% growth in organic revenues with volume growth across all operating groups. Net revenues declined 9% to US$8.2 billion, impacted by a 13-point headwind from the refranchising of company-owned bottling operations. Concentrate sales grew 4% having benefited from the timing of shipments, and…

FDA considers requirement to label sesame as an allergen on packaged foods

USA - The U.S. Food and Drug Administration (FDA) has launched an investigation into the prevalence and severity of sesame allergies in the United States with a possible consideration for a requirement to label sesame as an allergen on packaged foods. Sesame is not required to be disclosed as an allergen, and in some circumstances,…

Ethiopia’s Nared Trading invests US$5m in a new water bottling plant

ETHIOPIA - Nared General Trading, an Ethiopian pharmaceuticals import and wholesale company has invested US$5.01 million (140 million Br) to set up a new water bottling company in Chacha Wereda, Amhara Regional State. According to AddisFortune, the plant was constructed at a cost of US$2.15 million on 20,000Sqm land and is expected to be fully…

United Kingdom hikes wine duty but freezes duty on beer, spirits and cider

UK – United Kingdom Chancellor Phillip Hammond has announced that duty tax on wine will increase while that on beer, spirits and cider would remain the same in line with the rate of inflation, effective 1 February 2019. Duties on beer and spirits will remain at the same level as last year in a bid…

Mondelez net revenue slides 3.7% despite strong performance in emerging markets

USA – Mondelez International’s reported a 3.7% decline in net revenue despite strong performance from emerging markets which saw 5.4% growth in organic net revenues in the third quarter. In emerging markets, growth was driven by strength in Russia, India, Mexico, China, Southeast Asia and Africa. It reported revenues of US$6.30 billion and earnings per…

Hain Celestial appoints Mark Schiller as CEO to succeed founder Irwin Simon

USA – Food and personal care focused group Hain Celestial has appointed Mark Schiller, former chief commercial officer at Pinnacle Foods as the company’s new Chief Executive effective November 5, 2018. He succeeds founder Irwin Simon to lead efforts in re-establishing the company’s leadership in natural and organic products segment and will be nominated as…

Nestle Nigeria reports 9.7% growth in sales in 9 months ended September

NIGERIA – Nestle Nigeria has said sales grew 9.7% to US$559.01 million in the nine months ended September 2018 from US$509.4 million in the comparable period in 2017, reports Beverage Industry News. Net profit increased 44% to hit US$90.8 million, with the growth accelerating in the third quarter, helped by an 85% drop in net…

Premier Fishing reports 40% rise in profits helped by Talhado acquisition

SOUTH AFRICA – South Africa’s Premier Fishing has reported a 40% increase in full-year net profit to US$6.49 million boosted by strong sales volume, good catch rates and acquisition of squid fishing business, Talhado, According to Business Day, the landed and sales volumes for the squid division more than doubled in the year to ended…

Campbell launches on-the-go Well Yes! Soups in the US market

USA – The American producer of canned soups Campbell’s has announced the launch of a new range of on-the-go, convenient soups, Well Yes! in the United States targeting health trend among consumers. The new products are available in convenient grab-and-go packaging, in five delicious flavours to provide healthier snack options for especially consumers with busy…

ADM and Cargill form new technology joint venture to support farmers in N. America

USA - Archer Daniels Midland Company and Cargill, Incorporated have formed new joint venture Grainbridge LLC, a technology platform to support farmers in North America with grain marketing skills. The partnership intends to provide grain marketing decision support, e-commerce and account management software for North American farmers. The platform will also engage in development of…