Consumers could see some relief from higher food prices by late fall, if the latest government crop forecast holds up. The U.S. Agriculture Department predicted Thursday that corn production will total a record 14.8 billion bushels. That compares with 12.4 billion bushels a year ago and it's 11 percent higher than the previous record crop in 2009. The government also predicts a record yield of 166 bushels per acre.
Hostess Brands Inc. has notified the Indiana Department of Workforce Development and Michigan officials it might close plants and layoff hundreds of workers if the company liquidates as part of its bankruptcy restructuring.
A key Connecticut lawmaker says efforts to enact state legislation requiring labeling of genetically modified food died in the face of threatened lawsuits by food producers.
The U.S. Department of Agriculture estimates a record corn crop this year, topping the previous high by 11 percent.
Energy drink maker Monster Beverage Corp. said Wednesday that its profit climbed 38 percent in the first quarter on better sales of its energy drinks.
The development of genetically engineered (GE) crops in the 1980s ignited a buzz in the agricultural community with the potential for higher crop yields and better nutritional content, along with the reduction of herbicide and pesticide use. GE crops grew to play a significant role in the U.S., with more than 160 million acres of farmland used to produce GE crops in 2011. However, the development of new GE crops has recently slowed to a trickle due to litigation over field testing and deregulation.
Shares of Chiquita Brands International Inc. slid to their lowest levels in more than three years on Wednesday after the produce company reported a loss for the first quarter, stung by charges and lower banana prices. Its adjusted earnings were well below Wall Street's view.
The nonprofit Center for Consumer Freedom (CCF) is refuting the Institute of Medicine’s (IOM) new report, “Accelerating Progress in Obesity Prevention: Solving the Weight of the Nation,” which misguidedly calls for the government and industry decision-makers to actively reduce the number of choices Americans have when they sit down to eat.
A Lebanon, Tenn., food distribution plant was temporarily shut down and evacuated because of an ammonia leak.
“Food is life, and with the cultural changes underway throughout the world, there are tremendous shifts happening in how people eat,” said Daymon Worldwide CEO Carla Cooper. “Occasions are now driving food choices, and retailers need to better understand how this is impacting their customers.”
Hostess Brands has warned its 250 employees in Washington state they could lose their jobs in 60 days.
Shares of Dean Foods Co. jumped 9 percent Wednesday after the nation's biggest dairy company said its first-quarter profit rose sharply on higher sales. The company also predicted second-quarter and full-year profits will come in above Wall Street expectations.
A rose by any other name may smell as sweet, but an appeals court says a liquor bottle with a red dripping wax seal by any name other than Maker's Mark would be illegal.
Food companies looking to capitalize on consumers' increasingly sophisticated tastes — and their need for speed at the grocer and at home — are carving out new directions in lunch meat with upscale options that are pre-sliced, prepackaged and ready to go right alongside the bologna.
The founder of Green Mountain Coffee Roasters Inc., who was ousted as chairman for a stock sale that violated company policy, said the transaction was triggered after he was caught off-guard by a swift drop in the coffee maker's stock price.
On Wednesday, May 9, 2012, The 6th U.S. Circuit Court of Appeals court says a liquor bottle with a red dripping wax seal by any name other than Maker's Mark would be illegal. The decision comes in an appeal brought by London-based Diageo North America and Casa Cuervo of Mexico, which used a dripping red wax seal on special bottles of its Reserva tequila.
Aramark Corp. says that it hired former Pepsi manager Eric J. Foss to be chief executive of the food service company.
U.S. companies in March posted the highest number of job openings in nearly four years, a sign that hiring could strengthen in the coming months after slowing this spring.
TreeHouse Foods' first-quarter profit beat market expectations thanks to higher prices. But the company lowered its revenue expectations for the year, citing weakness at groceries.