Annie's, which makes natural and organic packaged food, posted an adjusted profit in its most recent quarter that edged past Wall Street expectations despite costs and lost sales from a pizza recall. The company's fiscal third-quarter net income came to $1.4 million, or 8 cents per share.
The U.S. Department of Agriculture predicted strong growth in crop and livestock production in its 10-year forecast released Monday, but it cautioned that those projections were based on assumptions, such as a return to normal weather patterns, that some believe are unlikely.
Coca-Cola says its profit rose 13 percent in the fourth quarter as growth in emerging markets offset a decline in Europe and a modest performance in the U.S. The Atlanta-based company said global sales volume rose 3 percent, driven by gains in countries such as Russia and Turkey. Volume in Europe fell by 5 percent.
Romanian food safety officials say the country produced 6,300 tons of horse, mule and donkey meat last year, and that it was correctly labeled when it was exported to other European countries. The National Authority for Veterinary and Food Safety said Tuesday that some 97 percent of the meat slaughtered and processed was sold to Bulgaria, France, the Netherlands, Italy, Poland, Germany, Belgium and Greece.
Alaska environmental regulators say Nestle Prepared Foods Co. has issued a recall of Lean Cuisine mushroom ravioli after consumer reports that glass shards were found in the product. Officials say affected packages of Culinary Collection Mushroom Mezzaluna Ravioli have productions codes of 2311587812 and 2312587812. Both codes have a "best before" date of December 2013.
Federal budget cuts mean fewer dollars for food inspection programs, the White House said in a memo late last week. The Obama administration claimed in the memo that these cuts would be responsible for "putting families at risk and costing billions in lost food production."
Rabobank has published a new research report on the global wine industry, predicting that sparkling wine will continue to shift downmarket in economies that are struggling, and credits a weak Euro and emerging market growth for supporting suppliers in markets outside of Europe and the U.S.
Shares of Diamond Foods Inc. rose Monday after investment firm BlackRock disclosed that it purchased a stake in the maker of Emerald nuts, Pop Secret popcorn and Kettle chips. BlackRock said in a filing with the Securities and Exchange Commission on Friday that it purchased a 7.85 percent stake in Diamond Foods.
Salt has quietly been slipping out of dozens of the most familiar foods in brand-name America, from Butterball turkeys to Uncle Ben's flavored rice dishes to Goya canned beans. A Kraft American cheese single has 18 percent less salt than it did three years ago. The salt in a dollop of Ragu Old World Style pasta sauce is down by 20 percent. A handful of honey Teddy Grahams has 33 percent less salt.
Florists and chocolate-makers are working around the clock in the run-up to Valentine's Day. In Dallas, chocolatier Andrea Pedraza, who loves designer high heels, molded her pedestrian passion into chocolate form. Her most well-known creations are chocolate pumps done in the style of Christian Louboutin shoes.
Impending across-the-board budget cuts could mean fewer government food safety inspections and higher prices for meat at the grocery store. A White House memo released late last week said that one of the consequences of the federal budget cuts, known as sequestration, would be 2,100 fewer food facility inspections by the Food and Drug Administration, "putting families at risk and costing billions in lost food production."
On Tuesday, former SK Foods owner Frederick Scott Salyer, 57, will leave house arrest in Pebble Beach and be sentenced in U.S. District Court in Sacramento after pleading guilty last year to charges he bribed purchasing managers at food giants including Kraft Foods Inc. and Frito-Lay.
In this Feb. 7, 2013 photo, chocolate high heals made by master chocolatier Andrea Pedraza are lined up at her shop in the Oak Cliff section of Dallas. Florists and chocolate makers are working around the clock for the busy season - Valentine's Day. Pedraza's most well known creations are chocolate pumps done in the style of Christian Louboutin shoes.
Romanian officials say that two slaughterhouses thought to be the source of horsemeat found in products labeled as beef across Europe properly labeled their meat as horsemeat and any fraud happened elsewhere in the supply chain. Prime Minister Victor Ponta declared the country a victim of fraud.
South Dakota is on the lookout for dairy cows. Gov. Dennis Daugaard and state agriculture officials are traveling this week to the World Ag Expo in Tulare, Calif., with the goal of doubling the state's current herd of about 92,000 dairy cows.
McDonald's says a key sales figure dropped again in January as the world's biggest hamburger chain struggled to grow in the U.S. and saw a severe decline in Asia. The Oak Brook, Ill.-based company said global sales at restaurants open at least 13 months dropped 1.9 percent for the month. The figure is a key metric because it strips out the volatility of newly opened and closed locations.
If you don't like coffee or tea, Mountain Dew has a new breakfast drink that might perk you up. PepsiCo Inc. is rolling out a new drink called Kickstart this month that has Mountain Dew flavor but is made with 5 percent juice and Vitamins B and C, along with an extra jolt of caffeine.
The federal government has launched a review of the E. coli outbreak last fall that sickened 18 people and led to the largest beef recall in Canadian history. The review is to focus on what contributed to the outbreak of the potentially deadly bacteria at the XL Foods Inc. plant in Brooks, Alta.
Two Romanian plants believed to be the source of horsemeat mislabeled as beef in supermarkets across Europe declared it properly and any fraud was committed somewhere else down the line, officials said Monday. Romania is scrambling to contain the damage from the fast-growing horsemeat scandal — where the cheaper meat was substituted for beef in everything from burgers to frozen lasagna.
What's the future of the beverage industry? According to Healthy Beverage Expo, the future is nutritious and functional beverages made from high quality ingredients and pure water, marked by an undeniable accountability for the effects of processing, packaging and distribution.