Food Financial News

Canada will take the rare step of reducing its annual immigration targets on Thursday, according to a government source.

Subscribe to enjoy similar stories. India's largest household goods company Hindustan Unilever Ltd’s (HUL) struggle with muted volume growth is turning into a persistent concern. In the September quarter (Q2FY25), underlying volume growth stood at 3%, missing analysts' expectation of 5%—hinting that India’s much-touted consumption story may be losing momentum.

Blinkit, the quick-commerce arm of food delivery major Zomato, has introduced an option to purchase items on equated monthly instalments (EMI). “EMI options will be applicable on all orders above Rs 2,999 (except orders that contain gold and silver coins),” Blinkit chief executive Albinder Dhindsa wrote in a post on microblogging platform X. This is similar to ecommerce platforms, which have been offering EMI options for a while. The move is aimed at making purchases more affordable for consumers, driving higher spending, especially for big-ticket items.

paddy procurement in Punjab due to a shortage of storage space. Over the next three to four months, the Centre will move around 40 lakh tonnes of rice from the state to other rice-consuming regions, and plans are underway to create additional space for another 20 lakh tonnes, ToI reported. This move aims to ease the storage crunch and ensure smooth paddy procurement for farmers. The Food Corporation of India (FCI) will begin weekly transportation of rice stocks from Punjab to other states, helping free up space in the state’s warehouses. This decision follows a meeting between Union Food Minister Prahlad Joshi and Punjab Chief Minister Bhagwant Singh Mann, where Mann raised concerns about the lack of storage facilities. He highlighted how the shortage was affecting paddy procurement from mandis (local markets), leading to frustration among farmers. In response, Joshi assured that the Centre would act swiftly to move surplus stocks and ensure that the targeted 120 lakh tonnes of paddy from Punjab would be procured.

Subscribe to enjoy similar stories. For Rick Blaine, there will always be Paris. But, but for many others, there is so much to explore in the rest of France.

Maharashtra Cricket Association (MCA) Stadium in Pune, has witnessed growing unrest among spectators due to inadequate facilities at the venue. Fans have reported a severe shortage of drinking water on Day 1, leading to protests during the lunch break. The match is part of a three-match series, with New Zealand having won the first Test last week.

Adani Wilmar on Thursday reported a consolidated net profit of Rs 311 crore for the September quarter, compared to a loss of Rs 131 crore posted in the same period last year. Revenue from operations in Q2 FY25 was reported at Rs 14,460 crore, an 18% increase from Rs 12,267 crore in the corresponding quarter of the previous financial year. The profit after tax (PAT) was marginally below on a sequential basis, declining by 0.7% from Rs 313 crore in Q1 FY25.

JHS Svendgaard Laboratories Ltd.(up 3.63%), Euro India Fresh Foods Ltd.(up 3.03%), Jyothy Labs Ltd.(up 2.91%), Gillette India Ltd.(up 1.63%), Prataap Snacks Ltd.(up 1.52%), Dangee Dums Ltd.(up 1.38%), Honasa Consumer Ltd.(up 1.09%), LT Foods Ltd.(up 0.87%), Adani Wilmar Ltd.(up 0.81%) and Patanjali Foods Ltd.(up 0.70%) were among the top gainers.

A food poisoning outbreak tied to McDonald’s Quarter Pounders was caused by a common type of E

Outbreaks of foodborne illnesses are pretty rare for well known restaurant chains, but they do happen

McDonald’s is working to reassure U.S. customers that its restaurants are safe even as federal investigators try to pinpoint the cause of a deadly E

HUL) has provided a cautiously optimistic outlook for the upcoming quarters, suggesting that demand trends are likely to remain stable. As the FMCG giant navigates the evolving market landscape, it anticipates that low-single-digit price growth may be achievable if commodity prices stabilise at their current levels. In its second quater result the FMCG major witnessed a decline in food & refreshment and personal care segment. HUL's expectation of low-single-digit price growth is contingent on the stabilisation of commodity prices. Inflation often drives up the costs of raw materials, which can lead to increased prices for consumers. By indicating that price growth may remain stable if commodity prices stabilise, it could possibly mean easing inflationary pressures, which would be beneficial for both the company and consumers. Rohit Jawa, CEO and Managing Director of HUL, noted that while urban markets have experienced moderating growth in demand, rural areas are on a path to gradual recovery.

food inflation is expected to ease by Q4 of this fiscal (FY25) on better kharif arrivals and rising prospects of a good rabi season, highlighted the Reserve Bank of India's latest report. The RBI-led rate setting panel, Monetary Policy Committee, in the minutes of October meet, has highlighted that the sowing of key kharif crops are higher than last year and the long-period average. «Sufficient buffer stocks for cereals are available for ensuring food security. Adequate reservoir levels, the likelihood of a good winter and favorable soil moisture conditions augur well for the ensuing rabi season, though adverse weather events remain a risk,» it added.

Subscribe to enjoy similar stories. Zomato Ltd’s September quarter (Q2FY25) result was decent. A key parameter – the gross order value (GOV) – of food delivery and Blinkit grew by 21% and 122% year-on-year, respectively.

Subscribe to enjoy similar stories. Logistics aggregator Shiprocket is looking to increase investments in its emerging businesses, contributing a fifth of the total revenue, as it gears up to log its first full year of profitability on an adjusted Ebitda level, a top executive said. The Temasek-backed company, which is valued at over $1 billion, will double down on three segments—cross-border shipping, checkout, and quick deliveries, among others—to fuel its next level of growth, at a time when the first two quarters of the current financial year are already profitable on an adjusted Ebitda basis, Saahil Goel, managing director and chief executive officer of Shiprocket, said in an interview with Mint.

Indo-Tibetan Border Police (ITBP) team that came to his aid after he was rescued from the remote Ralam village in Uttarkhand’s Pithoragarh district following an emergency helicopter landing due to inclement weather and left stranded at over 12,000 feet. Ralam is a high Himalayan village and is typically deserted during winter. Despite this, three villagers — Ishwar Singh Nabiyal, Surendra Kumar, and Bhupendra Singh Dhakriyal — trekked over 38km through rugged terrain to reach Kumar, who was stuck without food or proper shelter. He was with two other poll officials and the pilot of the chopper. The villagers provided warm noodles and other essential supplies to the officials. They arrived at the village around 1:00 am after battling extreme conditions.

Orhan Awatramani, or as most people know him, Orry, recently dropped a whopping 23 kilos, and he credits it all to a super simple change in his diet: a strict zero-sugar approach! Now tipping the scales at just 50 kg, Orry shared the details of his transformation on Arhaan Khan’s podcast, Dumb Biryani. For context, Arhaan is the son of famous personalities Malaika Arora and Arbaaz Khan.

SIG Combibloc wants to make a difference. Last year, the Swiss firm — with a India clientele of brands like Amul, KMF, MilkyMist, Heritage Dairy, Coca-Cola, Parle Agro — began constructing its 10th global aseptic packaging plant in Ahmedabad, which will create over 300 jobs. In a conversation with ET Digital, Samuel Sigrist, CEO, SIG Group, talks about aseptic packaging technology and how India is the right market for it. Edited excepts: Economic Times (ET): What kind of potential is SIG looking to cater to in India when it comes to sustainable dairy packaging or sustainable packaging? Samuel Sigrist (SS): This is an amazing starting point, because in some markets in Asia, we first need to teach people to like milk. But that is not the challenge here. So the problem statement here starts with an opportunity statement. It is the largest milk market in the world and less than 10% is processed and packaged; and even a smaller part is in the safest form in the aseptic beverage carton. Now that just shows you the upside that we see. What drives this upside is not just the population growth, but also rising disposable income growth, a growing middle class and urbanisation.

E. coli outbreak across 10 states, according to the U.S. Centers for Disease Control (CDC). The outbreak, caused by E. coli O157, sent 10 people to the hospital. This strain was also responsible for the deadly 1993 outbreak at Jack in the Box restaurants. The CDC reported that everyone affected had eaten at McDonald's prior to their illness, with most recalling having a Quarter Pounder. Investigators are focusing on slivered onions and fresh beef patties as potential sources, though the exact ingredient has not yet been identified. McDonald's has removed the slivered onions and beef patties from stores in the affected states, including Colorado and Nebraska, as a precaution. U.S. food safety attorney Bill Marler noted that onions have been tied to past E. coli outbreaks, while beef contamination is rarer due to strict food safety measures.

food delivery company Zomato will be in focus after the company's profit in the second quarter missed the Street estimates. The bottomline zoomed nearly 389% YoY in the reporting period to Rs 176 crore from a year ago, but an ET Now Poll was expecting PAT to be around Rs 260 crore.

Mexico's new president has announced an agriculture plan that could make the country's food production and distribution look a lot more like it did in the 1980s