Food Financial News

Lupin and a unit of Aurobindo Pharma are recalling products from the American market due to manufacturing issues, according to the US health regulator. As per the latest Enforcement Report issued by the US Food and Drug Administration (USFDA), a US-based unit of Lupin is recalling a medication used to treat bacterial infections. Baltimore-based Lupin Pharmaceuticals Inc is recalling 3,552 bottles of Cefixime for Oral Suspension (USP 200 mg/5 mL) due to «failed content uniformity specifications». The affected lot has been produced at the company's Mandideep-based manufacturing plant in Madhya Pradesh.

CABIA President Tom Manzo joined 'Fox & Friends' to discuss how the minimum wage increase has impacted the fast food industry as thousands are forced out of work. 

cook for you. Few places put these two obsessions into focus as beautifully as the world of Facebook groups. I am in many food groups because I like good food and interesting recipes. The good part of food groups is that you learn about new restaurants or delivery outlets, their timings and menus, and often, group members share exciting recipes. But that's where it begins and ends. For some reason, most people in food groups write posts phonetically. It's like being in a kindergarten class, where you're trying to guess the word being spelt out. Usually, food groups are — yes — manned by men, who take their job seriously. I've seen them tick off hapless women who write down intricate recipes, but shockingly, have added pictures of the dish instead of one, as 'allowed' by admin.

Narendra Modi took in his third term were to transfer a new instalment of the PM-Kisan Samman Nidhi (PM-KISAN), amounting to about Rs 20,000 crore, and to approve assistance to construct three crore houses under the Pradhan Mantri Awas Yojana, indicating the priority the new government was according to social welfare schemes. In a new book, The Future of India’s Social Safety Nets, Andaleeb Rahman and Prabhu Pingali, research associate and founding director, respectively, at the TataCornell Institute, Cornell University, argue that while “standalone welfare schemes are important to address various forms of human deprivation, it is imperative to think about social welfare as a ‘system’ of programmes (welfare support) with ‘development resilience’ as its overarching objective”. In a Zoom interview from New York, Rahman speaks to ET about the threat from “new welfarism”, why inheritance tax could be an option and why it is too soon for universal basic income.Edited excerpts: An overarching theme in your book is that India needs to take a systems approach to social welfare. What would that look like?

₹700-800. The price of one litre of extra virgin olive oil from Spain is now ₹1,300-1,800. I make pure olive oil soaps around this time each year, so they cure for five-six months and are ready by peak winter in December.

Chandrika Dixit, famously known as the 'Vada Pav Girl', shared her impressive daily earnings from her street food business, in a surprising revelation on 'Bigg Boss OTT 3.' The social media personality, who made her debut on the reality show's premiere, disclosed that she earns Rs 40,000 per day by selling vada pav on the streets of Delhi.

Also Read: 60% make rewards top priority in credit card choice, reveals surveyAccor is one of the world’s largest hospitality groups, with a portfolio of more than 45 hotel brands across various categories, from luxury to economy. It has 5,500+ hotels spread across 110+ countries.

Recently, leaders from India's corporate sector advocated for reducing the income tax burden on individuals, increasing capital expenditure, and implementing measures to control food inflation during their nearly two-hour meeting with Finance Minister Nirmala Sitharaman ahead of the Union Budget. In their pre-Budget discussions with Sitharaman, industry representatives emphasized the need for heightened focus on infrastructure development to sustain economic growth. They also highlighted the importance of bolstering the MSME (micro, small, and medium enterprises) sector, which is crucial for the Indian economy and a key source of employment.

Unicommerce Esolutions has tagged Japanese investor SoftBank, which holds a nearly 30% stake in the ecommerce enterprise software developer, as well as Snapdeal cofounders Kunal Bahl and Rohit Bansal as the Gurugram-based company's promoters in an addendum filed to its draft IPO prospectus. The original draft red herring prospectus filed with the Securities and Exchange Board of India had named only AceVector Ltd — the parent company of Snapdeal — as its promoter.

In relatively short order, Canada has become a hotbed for fast food expansion from the United States.

investment in agricultural infrastructure, easing loan terms, and implementing employee-centric production-linked incentive schemes were some of the key suggestions made by stakeholders from the agricultural sector and Micro, Small, and Medium Enterprises (MSMEs) as part of the pre-budget consultations with finance minister Nirmala Sitharaman on Friday. The Agriculture Industry sought a new agriculture policy with focus on investment on Agriculture infrastructure, rationalisation of subsidy, increased investment in allied agri based food processing Industry and a substantial hike in allocation for agriculture research and innovation. The stakeholders asked to boost farm exports and create district hubs to support agriculture exports, sought launch of national Goat and Sheep Mission and increased the budget allocation for the Agricultural and Processed Food Products Export Development Authority (APEDA) to ₹800 crore from ₹80 crore. «All the stakeholders unanimously sought rationalisation of fertilizer subsidy and using the direct benefit transfer route to plug any leakage,» said a person aware of the meeting proceedings. They also asked the government to revise the retail price of urea, which has remained unchanged since 2018, and to incentivise the use of bio-fertilisers and foliar fertilisers.

desire to make artificial intelligence, robots, mechanical tools and newer technology comes from the same source that made humans invent slavery. Machines are more efficient than slaves though. Machines do not talk back, fight back or have dreams. Slavery began not with the agricultural revolution, but even before when even hunters and foragers realised that they could outsource hard work. People could be blinded, rendered dependent, and thus forced to spend the rest of their lives doing repetitive chores like cleaning gathered fruit and nuts while the masters enjoyed the shade of trees. The word robot is traced to the Slavic word for forced labourers i.e., slaves. Slaves have existed in all parts of the world. Names have been different. Techniques to enslave been different. Some used threats of violence. Some told stories — God told you to follow the occupation of your father, nothing else, was the story told in Hindu scriptures. The gods created slavery for their own pleasure, said Mesopotamian mythology. Women have to serve women, said Biblical myths.

have urged the government to reduce taxes on farm equipment and increase allocations for agricultural research and development and a flagship programme meant to support farmers.In a meeting with Union finance minister Nirmala Sitharaman on Friday as part of consultations ahead of the annual budget for 2024-25, they also urged higher allocations to strengthen the Agricultural and Processed Food Products Export Development Authority (APEDA), a government export trade promotion body.The upcoming full-year budget is expected to be presented in July.India’s agriculture sector grew at a mere 1.4% in financial year 2023-24, much below its pre-pandemic decadal average of 4.4%, due to erratic monsoons. The sector is expected to improve in the current fiscal year because of anticipated normal monsoons and a favourable base effect.Agricultural stakeholders at the meeting on Friday also urged the government to strengthen trade and exports post-harvest management, develop districts as export hubs, establish boards for each agri-commodity under the private sector, and fund global market access programmes.“We have suggested an acceleration of agriculture growth rate through a substantial increase in agricultural R&D up to ₹20,000 crore from ₹9,500 crore," said M.J.

Reserve Bank of India's Monetary Policy Committee have flagged worries relating to price worries in coming months owing to 'exceptionally' warm summer months experienced across the country, as per the Minutes of the June meeting released on Friday. RBI Governor Shaktikanta Das opined that retail inflation in India would moderate to an average of 4.5 per cent in FY25, higher than the target of 4 per cent. «In the immediate months, however, the impact of exceptionally warm summer months on output of certain perishables; a likely rabi production shortfall in some pulses and vegetables – particularly potatoes and onions; and the upward revisions in milk prices, warrant close monitoring,» Das said.

Prataap Snacks Ltd.(up 8.64%), ADF Foods Ltd.(up 7.46%), Honasa Consumer Ltd.(up 5.54%), Bajaj Consumer Care Ltd.(up 2.55%), Sheetal Cool Products Ltd.(up 2.49%), JHS Svendgaard Laboratories Ltd.(up 1.96%), Gillette India Ltd.(up 1.87%), Dangee Dums Ltd.(up 1.27%), Nakoda Group Of Industries Ltd.(up 1.22%) and Jyothy Labs Ltd.(up 1.16%) stood among the top gainers.

lower taxes for individuals to generate demand and spur consumption besides seeking low-cost finance, subsidies and benefits on land rates and necessities such as electricity for retailers ahead of Union Budget FY25. Retailing in India accounts for about 10 per cent of the country's GDP and the sector is second only to agriculture in terms of the number of people directly employed, RAI said in its pre-Budget memorandum highlighting areas that need attention in order to make the industry stronger. «To ensure the growth of the sector, the Union Budget for FY25 should focus on generating demand and spurring consumption by offering benefits or concessions in the form of lower taxes,» RAI said. It will boost the overall consumer sentiment and benefit the retail sector, it said adding, consumption equals to development and the «tax benefits and relief to individual taxpayers will increase the monthly disposable income and support consumption».

GRM Overseas, an FMCG and basmati rice exporting company, has announced that the board has approved the fund-raise of Rs 136.5 crore through the issue of share warrants on a preferential basis to 33 promoters and non-promoter investors. The board has approved the allotment of up to 91,00,000 share warrants at an issue price of Rs. 150 including a premium of Rs 148 per warrant. The funds raised will also expand India's “10X” brand, making it a comprehensive food FMCG product company. The funds will also be allocated to explore future inorganic growth opportunities, including strategic mergers and acquisitions, and improve operational capabilities. These activities may be undertaken directly by the Company or through its subsidiaries or joint ventures. The investors include Atul Garg (Promoter), Forbes EMF, Singularity Equity Fund and Nikhil Vora HUF, among others, will be issued share warrants.

Nuvama initiated coverage on Bikaji Foods, with a target price of Rs 885, as the company has emerged as a heavyweight in the rapidly expanding Indian savoury snacks market. “With capex largely incurred, rising asset utilisation shall propel its RoCE to 32% by FY27E. Insatiable scope for savoury snacks, brand equity, favourable trends and expansion make it covetable,” said Abneesh Roy, Analyst at Nuvama.

₹747.95 apiece on the BSE.Bikaji Foods International is a heavyweight in the rapidly expanding Indian savoury snacks market. It is the third-largest player in the organised ethnic snacks market, market leader in family packs and leader in its core states: Rajasthan, Assam and Bihar.

Union Budget 2024: Industry leaders requested a host of considerations in the upcoming full Union Budget 2024 during their pre-Budget meeting with Finance Minister Nirmala Sitharaman on June 20.Expectations listed by India Inc. during the two-hour interaction include a reduction in the income tax burden for the common man, an increase in capital expenditure, and measures to control food inflation, PTI reported.Prominent industry figures, including Sanjay Aggarwal (President at PHD Chamber), Vinod Aggarwal (President at SIAM), Neeraj Akhoury (President at Cement Mfrs Association), Sanjay Kirloskar (CMD of Kirloskar Brothers), Arathi Krishna (MD of Sundram Fasteners), Shefali Misra (Vice President at Biocon), Yash Pal Sachar (Vice President at Ashok Leyland), and Samir Somaiya (President at IMC Chamber), and others, made recommendations for the Union Budget.Sanjiv Puri, President of industry body Confederation of Indian Industry (CII), presented eight points to Sitharaman for consideration.These included relief in income tax for lower income slabs, streamlining employment-linked incentive schemes such as the Production Linked Incentive (PLI) scheme, and promoting ease of doing business.CII also made recommendations for agriculture and rural development.Trade association, the Federation of Indian Chambers of Commerce & Industry's (FICCI) recommendations centred around driving capital expenditure, fostering innovation, and simplifying taxes.Former FICCI President Subhrakant Panda emphasised the need to support growth momentum by energising demand, enhancing infrastructure development, controlling food inflation, supporting MSMEs, and prioritising innovation and R&D.