Food Financial News

Annual shop price inflation slowed to 0.8%, down from 1.3% in March, according to data from the British Retail Consortium and NielsenIQ. This was below three-month average rate of 1.4%. Non-food items entered into deflation with a 0.6% contraction, compared to 0.2% price growth in March. Bank of England chief economist Huw Pill: Interest rate cuts remain 'some way off' Inflation on food also decelerated to 3.4% from 3.7%, making April the twelfth consecutive month of inflation slowdown for food prices. This was driven by overall falls in the cost of fresh produce, such as butter...

UltraTech Cement: The company announced on Monday that its consolidated profit after tax for Q4FY24 surged by 36% YoY to ₹2,258 crore. This exceeded expectations, driven by a reduction in fuel costs and a double-digit increase in volume. In Q4FY23, the company had posted a net profit of ₹1,666 crore.

₹187 to a customer. The incident happened in January 2023 when a customer had ordered an 'Nutty Death by Chocolate ice cream price from the food delivery app.

Food Safety and Drug Administration Department (FDA) swung into action following consumer complaints about food-related illness and raided two eateries in Noida, ANI reported. The complaints were lodged with the Food Safety Connect portal of the Food Safety and Standards Authority of India (FSSAI), officials said. The complaints were about food from two popular eateries — McDonald's and Theobroma Bakery — in Noida's Sector 18 and Sector 104 respectively, the report added.

Narendra Modi has become worried after learning that the Congress had been ahead in the first two phases of polls, AICC president Mallikarjuna Kharge said on Monday, while adding that the PM was attacking the Congress by referring to things the party never said in its manifesto. Neither the Indian Constitution nor the Congress election manifesto said all wealth would be distributed to Muslims, but Modi was saying so in sheer frustration after learning about the Congress party’s leads in the first two phases, the AICC president said, addressing rallies at Sedam, Gurmitkal and Kamalapur. The three assembly segments are part of Kalaburagi (Gulbarga) Lok Sabha seat his son-in-law Radhakrishna Doddamani was contesting from. Kalaburagi is one of the 14 constituencies in Karnataka that are going to polls on May 7. The Congress has only said the poor would get their due share and there was no mention of Hindus or Muslims in the manifesto. The Congress party, since the time of Indira Gandhi, had worked for the upliftment of poor people and battled poverty. Land reforms, bank nationalisation and programmes like NREGA, and Food Security Act were an outcome of the Congress initiatives, the 81-year old AICC leader said, wondering if Modi could claim credit for any such programme.

Patanjali Foods, a leading FMCG player in India, is under scrutiny as it has been served a show-cause notice by the Directorate General of GST Intelligence (DGGI) in Chandigarh for an alleged undue claim of Rs. 27.5 crore in input tax credit (ITC). This notice, issued under the CGST Act, highlights a potential discrepancy in the company's tax filings that could result in penalties. In response to the notice, a spokesperson for Patanjali Foods stated, «The Company has received a Show Cause Notice from the Directorate General of GST Intelligence, Chandigarh Zonal Unit. The Company, its Officers, and authorized signatories were asked to explain why input tax credit amounting to Rs 27,46,14,343 should not be recovered (with interest), and why penalties should not be imposed under Section 74 and other applicable provisions of the CGST Act 2017/Uttarakhand SGST Act, 2017, in conjunction with section 20 of IGST Act 2017.» The company has asserted its intention to vigorously defend its position before the authorities. However, it has also clarified that the financial implications of the notice cannot be determined until the proceedings are concluded.

Market Rebellion co-founder Pete Najarian discusses delayed rate cuts by the Fed, inflation and U.S. markets.

Nestle India Chairman & Managing Director Suresh Narayanan on Monday asserted that the company's infant food formulation for children below 18 months is done on a global basis and the allegation that «it is racially stereotyped is unfortunate» and untrue. Addressing reporters here, he said the amount of sugar content in infant foods is determined by the capability to meet the nutrition profile of a particular age group and that is universal. Nestle India's added sugar content in Cerelac is much lower than the upper limit prescribed by FSSAI, he added. «There is nothing in this product that makes it a product that is potentially of any risk or any kind of harm to the child,» he said.

multi-billionaire family of Indian origin made their fortunes in fertilisers and polymers after shifting base to South-East Asia. Today, it is a materials powerhouse across the petrochem value chain. But these days top guns of India Inc chase them for another reason altogether. Their three-year-old project of passion — spread across 1,100 hectares in the heart of Tuscany, Italy — has become one of the hottest holiday destinations for those seeking ultra-chic experiences. After all, if you get the finest vegetarian food in a luxury villa along with an inbuilt village centre, spa and a golf course, all along with a swirl of the finest Tignanello Toscana as a sundowner, why should the bill be a bummer?

Everest have come under scanner after Hong Kong and Singapore banned their spices due to “quality concerns". The health authorities in both Singapore and Hong Kong found cancer-causing pesticide called “ethylene oxide" in these masalas. It is pertinent to note that the International Agency for Research on Cancer has identified ethylene oxide as a major carcinogen.

Jubilant Foodworks Ltd. gained 0.69 per cent to Rs 440.3 at 11:36AM (IST) in Monday's trade. The scrip hit a high of Rs 443.3 and low of Rs 437.95 so far during the session. The stock had closed at Rs 437.25 in the previous session. The counter had a total traded volume of 11:36AM shares so far with a turnover of Rs 0.35 crore on BSE. The stock traded at a price-to-earnings multiple of 131.46 and a price-to-book ratio of 14.26.

Dangee Dums Ltd.(up 8.99%), Mrs. Bectors Food Specialities Ltd.(up 4.07%), Bajaj Consumer Care Ltd.(up 1.92%), Gillette India Ltd.(up 1.63%), JHS Svendgaard Laboratories Ltd.(up 1.13%), Jyothy Labs Ltd.(up 0.99%), Varun Beverages Ltd.(up 0.98%), Nestle India Ltd.(up 0.93%), Euro India Fresh Foods Ltd.(up 0.64%) and Hindustan Foods Ltd.(up 0.60%) were among the top gainers.

As nations, both India and the US have shared civilizational values, especially the unshakeable belief in democracy as a just and equitable political model. There is another critical area where commonality seems to be emerging: the path that leads from monetary policy to the political economy. The US central bank, the Federal Reserve, and the Reserve Bank of India (RBI) are both confronted with a quandary that has implications for the theatre of politics.

Bengaluru: BJP MP from Karnataka's Chamarajanagar and former Union minister V Sreenivasa Prasad, who was undergoing treatment at a private hospital here, died on Monday, family sources said. He was 76. Prasad is survived by his wife and three daughters. The six-time MP from Chamarajanagar and two-time MLA from Nanjangud in Mysuru district was ailing for some time. On March 18 this year, Prasad announced his retirement from electoral politics, marking an end to his almost 50 years in public life.

Rohit Jawa is clear about the job at hand, which is to nudge India's largest consumer goods company to move “faster than the clock speed of India". Before taking over the corner room of HUL in June 2023, Jawa, 57, served as chief of transformation for Unilever in London, where he piloted the company's end-to-end transformation from January 2022. Jawa expressed surprise at the pace of change in India in an interview late last week, a day after HUL announced its earnings for the fourth quarter, where the company reported a 2% jump in underlying volumes, similar to the previous two quarters.

Arielle Johnson was working at the fermentation laboratory she founded at Noma, the restaurant in Copenhagen, Denmark, and had to explain the techniques she was using to the chefs. «They had a lot of knowledge that intersected with what I had, but what I learned as a scientist did not cross over,» said Johnson, who trained as a flavor scientist at the University of California, Davis. «I found myself explaining a lot of concepts to people over and over. It would lead to info-dumping on a cook for 10 minutes and saying, 'I wish there was a book I could give you.' So that's this book.» "Flavorama: A Guide to Unlocking the Art and Science of Flavor," her first cookbook, published in March, explains the basics of flavor, how it works and how it can be used. There are more than 75 recipes in the book, including one of Johnson's favorites, smoke oil, which she created using canola or grapeseed oil and Lapsang souchong tea to infuse smoky flavors without setting off the fire alarm in her apartment.

Alejandro Fonseca stood in line for several hours outside a bank in Havana hoping to withdraw Cuban pesos from an ATM

From ancient fertilizer methods in Zimbabwe to new greenhouse technology in Somalia, farmers across the heavily agriculture-reliant African continent are looking both to the past and future to respond to climate change

President Joe Biden’s administration is again delaying a sweeping plan to ban menthol cigarettes

Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation

Balthu Chutney’s story was probably first documented in print in the Mangalore Magazine, published by St Aloysius College (established 1880). Starting in the June 1899 issue and written in first person, it described how Balthu, or Balthasar, a young Christian from near Mangalore, made his way to Chennapatnam (Madras), where he became a cook for the Jesuits. It was an era when Hyder Ali had become the dominant power in South India. The Jesuits were taken to his camp, where they were produced before his 17-year-old son Tipu (which would date this to 1768). By chance on that day, the only food available for the sultan and his son was a basic pilau. Balthu quickly made a chutney that was so tasty that they commended him. Balthu said that he could make a vast variety of chutneys and was ready to serve the royal family. Despite being a practising Catholic, “I was there and then named royal chutney manufacturer.” He was later able to use this privileged position to help the around 60,000 Mangalore Catholics who were taken prisoner to Seringapatam in 1784 for their alleged treachery in supporting the British.