Food Financial News

India's food safety regulator said on Thursday it had ordered nationwide testing and inspections at all companies making spice mixes, widening a crackdown on the sector as global regulators investigate contamination issues with two popular local brands. Hong Kong last month suspended sales of three spice blends made by India's MDH and an Everest spice mix for fish curry. Singapore ordered a recall of the same Everest mix as well, flagging high levels of ethylene oxide, which is unfit for human consumption and a cancer risk with long exposure. MDH and Everest products are hugely popular in India and also sold in Europe, Asia and North America, and the companies have said they are safe. Still, U.S. and Australian food authorities said they are gathering more information on the matter, and India had already ordered testing of the two brands' products.

U.S. regulators have decided to allow American fishermen to harvest thousands of pounds of a valuable species of tiny fish in the coming years, even as Canadian authorities have shuttered the industry while they grapple with poaching

Freshworks said on Wednesday that founder Girish Mathrubootham will step aside as the chief executive and will take on the role of executive chairman. Meanwhile, Dennis Woodside will take over as CEO of the CRM software maker. In a post on X, Mathrubootham said, «After spending almost 14 years since founding Freshworks as a tiny startup in Chennai, to scaling it to be a global Saas player and the first Indian Saas company to list on Nasdaq, I’m excited to announce that I’m stepping into a new role as Executive Chairman of Freshworks.»

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Israel reopened the Erez Crossing with Gaza for the first time since October 7 with the passage of 30 trucks delivering food and medical supplies from Jordan to the northern area of the Strip. It is the only crossing located on Gaza's northern border. Before the war, it served as the only crossing point for pedestrian traffic. Before the attacks of October 7, it was primarily used by international personnel such as diplomats, aid workers, and journalists and also Palestinians with work or medical permits, while trucks used the Kerem Shalom crossing at the southern end of the Strip.

Mint explores. The heatwaves sweeping eastern, central and southern states began two weeks back. A heatwave, the India Meteorological Department (IMD) says, happens when a rise in air temperature turns fatal for humans exposed to the heat—when maximum temperatures are at least 4.5-degree Celsius higher than normal.

Grocery and drugstore retailer Loblaw Cos. Ltd. raised its quarterly dividend by 15 per cent as it reported its first-quarter profit and revenue rose compared with a year ago.

boycott movement against Loblaw over high food prices say they are keenly aware they need to target more than just grocery stores to impact the mammoth corporation’s bottom line.Loblaw Companies Ltd. is the parent company of nearly two-dozen store brands spread across food, pharmacies, fashion, beauty and financial services.

GTRI) Wednesday said that nearly $700 million worth of India’s spice exports to critical markets are at stake due to cascading regulatory actions in many countries, as concerns are being raised about the quality of Indian spices. It cautioned that if the EU follows suit with a rejection across the bloc, it could impact an additional $2.5 billion of India’s spice exports. The US, Hong Kong, Singapore, Australia, and Malé have raised questions on the quality of spices supplied by leading Indian firms MDH and Everest. India exported spices worth $692.5 million to these countries in FY24. “This issue demands urgent attention and action to uphold the storied reputation of India’s fabled spice garden,” it said, adding that so far the response from Indian authorities has been tepid and formulaic.

dosas, idlis, mor kuzhumbu, koozh and more from the south of the Aravali range or dhoklas, jalebis, bhaturas, lona illish, khamiri roti and other delicacies from the north. While most of these fermented foods are made from pulses, lentils, meat products and milk, one unifying fermented product that appears in different Indian cuisines is curd aka yogurt. Every occasion demands that cup of curd at the end of a meal.

Temperatures continue to hit new highs every subsequent year. In its March 2024 update, the World Meteorological Organisation’s (WMO) annual State of the Global Climate report confirmed that 2023 was the warmest year on record, with the global average near-surface temperature at 1.45° Celsius above the pre-industrial baseline. Add to this, it was the warmest 10-year period on record.

At least a dozen people in California and Washington have been sickened with E

heatwave conditions could impact farm output and push up inflation by about 30-50 basis points, economists said. Vegetable prices, already witnessing a spike, are likely to keep inflation elevated till June, when a normal monsoon provides some reprieve. «The impact of the heatwave will be most apparent in perishable food varieties, especially vegetables, which is one of the most volatile parts of the inflation basket and has consistently punched above its weight in FY24,» said Radhika Rao, executive director and senior economist, DBS Group Research.

The U.S. Department of Agriculture says it will test ground beef for bird flu

food regulators of two popular Indian brands of prepackaged spice-mix products allegedly containing ethylene oxide, a carcinogenic substance — denied by both companies — does raise a flag, and brows. European food authorities reportedly found the same carcinogen in 527 Indian food products. The US FDA, which had raised the issue of salmonella contamination in prepackaged spice mixes, is conducting a fresh probe.

U.S. consumer confidence deteriorated for the third straight month as Americans continue to fret about their short-term financial futures

McDonald’s plans to step up deals and value messaging to combat slowing sales

Walmart is launching its biggest store-label food brand in 20 years in terms of the breadth of items

The Federal Trade Commission is challenging hundreds of pharmaceutical patent listings in an effort to smooth the path to more affordable alternatives to brand-name drugs—including blockbusters such as Ozempic and Victoza. The crackdown is the latest assault against what the agency regards as drugmakers’ patent ploys intended to stall generic competition. At issue is what is called the Orange Book, a document published by the Food and Drug Administration that lists patents relevant to brand-name pharmaceuticals.

According to a flash estimate by Eurostat, services inflation, a key watcher for the ECB, eased to 3.7% from 4% in March after five months of no change. Core inflation, which excludes energy, food, alcohol and tobacco, fell to 2.7% in April from 2.9% the prior month. The year-on-year contribution of energy prices as a component of inflation continued to decrease, registering at -0.6% compared to -1.8% in March. Separate gross domestic product figures also released today (30 April) pointed to an improving picture for the eurozone in the first three months of the year, with quarter-on-q...