Nestle acquires New Zealand technology to fight iron deficiency

NEW ZEALAND – Global food giant, Nestle has acquired a novel technology developed by New Zealand scientists to help tackle iron deficiency, one of the world’s widely spread nutritional deficiencies. Called FERRI PROT, the technology encompasses novel techniques that looks to address iron deficiency while preserving product quality. It was developed by researchers at the…

Ingredion’s Reb M stevia sweetener receives approval in New Zealand

NEW ZEALAND - Food Standards Australia New Zealand (FSANZ) has approved Ingredion’s BESTEVIA Reb M Stevia Leaf Sweetener for use as an intense sweetener in food and beverages. The governmental standards authority said that through a detailed risk assessment, it found no public health or safety concerns regarding the sweetener. BESTEVIA® Reb M stevia leaf sweetener…

Fonterra sells Farm Source livestock division to Carrfields Livestock

NEW ZEALAND – The global dairy giant has announced that it will sell the Farm Source™ livestock division to Carrfields Livestock, a family-owned livestock and dairy herd agency. The deal whose price was not disclosed is expected to be effective March 1, 2019. According to Richard Allen, Farm Source™ Stores Director, the divestment plan was…

Dairy co-operative Westland to build new US$15m plant in New Zealand

NEW ZEALAND - Westland Milk Products, a co-operative dairy company in New Zealand has unveiled plans to build a new US$15.1 million plant at its Hokitika site in South Island. The investment includes US$6.7 million loan from the government to build a facility that will ensure availability of quality dairy products in the West Coast…

Australia and New Zealand alcohol producers to develop warning labels on products

AUSTRALIA - Alcohol producers will be forced to label their products with warnings relating to the risks of drinking during pregnancy in an agreement reached by Australian and New Zealand ministers. According to Food Business News, the labels will be developed by Food Standards Australia New Zealand in consultation with the alcohol industry, and will…

Fonterra records a net loss after tax of US$196m in 2018 annual results

NEW ZEALAND – Fonterra, a New Zealand multinational dairy co-operative, has announced a Net Loss After Tax of US$196 million in its FY18 annual results, with a plan to improve its business performance and the outlook for FY19. According to the company, the normalised EBIT was US$902 million, down 22%, the Co-operative’s gearing ratio was…

New Zealand launches programme with Dairy Goat Co-operative to promote goat’s milk

NEW ZEALAND - New Zealand has launched a US$19.7 million programme with Dairy Goat Co-operative, which develops, manufactures, and sells nutritional goat and cow milk products to grow the goat’s milk infant formula industry in the country. According to FoodBev, the initiative aims to grow research and farming capability and boost export revenue across the…

New Zealand launches US$40m scheme for sustainable growth in the food industry

NEW ZEALAND - New Zealand’s agriculture minister Damien O’Connor has launched a new US$40m-a-year scheme to grow the food and beverage industry sustainably and as a way to meet food and nutrition needs in the country. The minister said the nation needed to move from 'volume to value' and this sector which delivered more than…

Fonterra announces Miles Hurrell as interim CEO

NEW ZEALAND - Fonterra Co-operative Group, a multinational dairy co-operative, has announced that Miles Hurrell will take over as the Co-operative’s interim Chief Executive with immediate effect. According to the company, Mr Hurrell is currently the Co-operative’s Chief Operating Officer, Farm Source – the unit responsible for working directly with the Co-operative’s farmer-owners. In that…

Nestle sells New Zealand confectionery business with 55 jobs lost

NEW ZEALAND – Nestlé, a multinational food and beverage company, has sold some of its confectionery brands in New Zealand – including Fabulicious Red Licorice, Mackintosh and Black Knight – to Sydney-based firm Quadrant Private Equity. According to FoodBev, the company will cut production at its Wiri factory with as many as 55 jobs likely…