June 24 (Reuters) – India on Thursday extended a ban on milk and milk products from China until further notice, a government statement said. (Reporting by Ratnajyoti Dutta; editing by Malini Menon)
UPDATE 1-Saputo profit gets lift from higher cheese prices
June 10, 2010 By Leave a Comment
OTTAWA, June 9 (Reuters) – Saputo Inc (SAP.TO) posted a 37 percent jump in quarterly profit on Wednesday, as higher cheese prices and increased efficiency more than offset a drop in revenue at the dairy products company.
Saputo, Canada’s biggest cheese maker, said it earned C$99.1 million ($95.3 million), or 47 Canadian cents a share, in the fourth quarter, ended March 31. That compared with a profit of C$69.2 million, or 33 Canadian cents a share, a year earlier.
Revenue fell 5.2 percent to C$1.38 billion, hurt by a negative currency impact as the Canadian dollar strengthened against the U.S. dollar and other currencies.
Analysts had expected, on average, earnings of 46 Canadian cents a share before items and revenue of C$1.47 billion, according to Thomson Reuters I/B/E/S.
Montreal-based Saputo said that its recently announced plans to consolidate its Toronto distribution center are expected to be completed this autumn and will generate after-tax savings of about C$6.5 million annually.
The company also said it will pursue expansion in fiscal 2011 through both internal growth and acquisitions. It plans to invest in projects to boost capacity in its Canadian specialty cheese facilities.
It will seek volume growth at its diary operations in Argentina, but expects a difficult year in Europe because of higher milk costs.
Acquisition-hungry Saputo bought the Neilson Diary division of George Weston Ltd (WN.TO) for C$465 million in late 2008, gaining its line of milk products, dairy drinks, cream products and nondairy creamers, butter, yogurt and juices.
Earlier that year, it bought Wisconsin-based Alto Diary.
Saputo shares, which are down about 4 percent this year, were off 5 Canadian cents at C$29.35 on the Toronto Stock Exchange early Wednesday afternoon.
($1=$1.04 Canadian) (Reporting by Susan Taylor; editing by Rob Wilson)
Long Term Buy Call Nestle India Limited at current levels
April 12, 2009 By Leave a Comment
ncorporated in 1959 as Food Specialties, Nestle India Limited was promoted by Nestle Alimentana, Switzerland. Its first unit at Moga (Punjab) started in 1962 for manufacturing milk products, infant milk food and weaning cereals, culinary products and beverages. The second factory at Choladi, Tamilnadu to produce beverages (tea) was set up in 1967. To part finance this project company went public in the year 1968. The third plant at Nanjangud, Karnataka, set up in 1989, manufactures instant coffee and health beverages. Company entered the chocolate business introducing Nestle Premium chocolate in 1990. Later in 1991, company entered into a joint venture floated by the parent in collaboration with the BM Khaitan group to set up facilities to manufacture a range of soya based products. Company’s products are sold under brand names such as Milkmaid, Everyday, Cerelac, Nescafe, Maggi, Lactogen, Eclairs, etc. It launched the world famous Kitkat chocolates in 1995. Company forayed into the ultra heat-treated liquid milk market in 2000. In 2001, it launched Nestle Pure Life bottled water. Company’s initiatives to introduce smaller pack sizes at lower price points were well expected by consumers.
To capture the market in coastal areas, the company launched Maggi cubes in prawn flavour to cater to consumers’ tastes. In the area of chocolate and confectionery, Nestle Munch, a crisp wafer biscuit with chocolayer, was rolled out nationally. In the milk and cereal category, Everyday Dairy Whitener showed satisfactory growth while Nestle Growing Up Milk, launched in 1999, was launched nationally. The company also forayed into the chilled dairy business with the launch of Nestle “dahi” in select cities of the north. The company ventured into beverage section by launching new blend of coffee powder, vanilla and mocha. The company also made its foray into the iced tea segment. Nestle Pure Life bottled water was launched in early 2001. Nestle Bar-One was re-launched after renovating it to make it smoother, creamier and better meet consumer needs. With seven factories and a large number of co-packers, Nestlé India is a vibrant Company that provides consumers in India with products of global standards and is committed to long-term sustainable growth and shareholder satisfaction. Products and services- Company is one of the top players in the processed food and beverages industry and the largest producer of instant coffee in India. Company has a large list of successful brands.
KitKat and Polo is the name in its successful international as well as Indian brands. Company has launched its first product in the hard-boiled sugar confectionery market, Allen’s Splash. Company leads the list of the country’s top coffee exporters. Nestle has set up a well-structured distribution network across the country. Company has also set up a special cold chain for product distribution in select retail outlets. Nestle India manufactures products in different categories like: “Milk Products and Nutrition”, “Beverages”, “Prepared Dishes and Cooking Aids” and ” Chocolate and Confectionery. Nestle India manufactures products of truly International quality under brand names such as milkmaid, everyday, cerelac, lactogen, maggi, nescafe, nescafe sunrise, nestea, milo, kitkat, milky bar, munch, polo, nestle milk, nestle dahi, nestle “fruit n milk” , nestle jeera raita and nestle “fruit n dahi”. Company has launched a range of gift packs under the Fox confectionery brand name for the festival seasons. With six factories and a large number of co-packers, Nestle India is a vibrant company that provides consumers in India with products of global standards and is committed to long-term sustainable growth and shareholder satisfaction. In domestic bottled water business it has the product under the brand name “Pure Life”. In milk, Company has launched its ultra heat-treated liquid milk, “Nestle Pure Milk”. Company bags Tetra Pak’s annual dairy and beverage industry award in 2004.
Financials- Jan-Dec-2008 Financial Results (Rs. Millions) Net Sales/Income from Operations 43,351.10 Operating Profit 8,778.40 Net Profit for the period 5,340.80 Cash EPS (in Rs.) 64.97
Valuations- Company’s Product portfolio consist Strong brands, which provide steady growth going forward. ROAE and EBIT margin par share is expected to increase continuously in coming years. Company belongs to Food processing sector, which contain tremendous growth outlook ahead. At CMP, Stock trades at attractive valuation of only 17.37 P/E multiple of its FY2010 estimated EPS. We recommend investors to “STRONG BUY” on “Nestle India” for medium to long-term investment horizon.
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Milk Marketing Federation in Gujarat records Rs. 67.10 billion turnover
April 5, 2009 By Leave a Comment
Anand (Gujarat), Apr 4 (ANI): Inspite of economic recession, Gujarat Co-operative Milk Marketing Federation (GCMMF), popularly known as Amul, in Anand, has recorded a turnover of Rs. 67.10 billion for the fiscal 2008-2009.
The Cooperative has been recording impressive growth for the last four years.
“In last four years we are growing at a rate more than 20 per cent, and some time 30 per cent. This year, we have got about 28 per cent growth and last year turnover was Rs. 67.10 billion approximately,” said B.M Vyas, MD, GCMMF.
Vyas said that recession has mainly hit markets like real estate, but has not affected the food business.
“We are in a fundamental food business and fortunately if you keep the prices under control and keep your cost under control then this is an essential commodity. I don’t think recession should affect this category substantially,” he added.
For the last three years, milk collection in Gujarat is going up by 10-12 per cent consistently.
The Cooperative is the apex marketing body of 13 district milk unions of Gujarat having 2.7 million producer members. It works for providing remunerative returns to the farmers and also serves the interest of consumers by providing quality products.
Today, India is not only the largest milk producing nation in the world, but also self-reliant in terms of milk and milk products. By Ami Sharma (ANI)
Nutritious new low-sugar vegetable juice benefits diabetics
March 29, 2009 By Leave a Comment
Washington, Mar 27 (ANI): Chinese scientists have developed a nutritious low calorie and low sugar vegetable juice for patients with diabetes and pre-diabetic conditions.
The research team led by Dr Heqin Xing and Xiuqi Liu of Jilin University in Changchun, China have come up with a cost-effective method of preparing a special type of vegetable drink using lactic acid-producing bacteria (LAB) to remove carbohydrates while retaining good taste, vitamins and other nutrients.
“This is an exciting development. The process significantly removes sugar but retains the nutritional content of the juice’s raw materials,” Liu said.
The juice was made from pumpkin, balsam pear, onion and carrots.
People have long cultured food – including everyday eats such as yogurt, cheeses and sausage – by using the same LAB.
LAB microbes produce a compound commonly found in sour milk products called lactic acid. Because of LAB’s healthy link to food production, this class of bacteria is also referred to as probiotics.
During the study, LAB reduced sugar content of the vegetable juice by transforming carbohydrates into lactic acid by a routine conversion process called fermentation.
As this process increases the juice’s acidity, it extends its shelf life as it inhibits growth of other bacteria.
LAB is known for its ability to withstand acidic environments. In addition to the lactic acid’s protection against contamination, the acidity from fermentation could enhance flavours in the beverage.
The researchers’ use of Lactobacillus acidophilus and L. plantarum in the vegetable juice increased its acidity by about 10-fold after 12 hours of fermentation.
With the addition of sugar, and a diabetic-friendly sugar substitute called xylitol, Xing the juice had a good mix of sweet and sour taste.
“It has a good taste with reduced calories due to lower carbohydrates,” Xing said.
The findings were presented at the 237th National Meeting of the American Chemical Society. (ANI)
China allows Taiwan to investigate milk scandal
September 25, 2008 By Leave a Comment
Taipei – China has approved Taiwan’s request to send a delegation to investigate its tainted milk products and exports to Taiwan, officials said Thursday.
The team of health experts are ready to leave for Beijing on Sunday, they said.
The latest development came as Taiwan’s Health Minister Lin Fang-yue resigned to take responsibility over the public outcry over policy reversal by health authorities in dealing with the Chinese milk crisis.
In a news conference in Taipei, Lin said he tendered his resignation to Premier Liu Chao-shiun to take the blame over the Health Ministry’s decision to relax the inspection criteria in examining whether local foodstuffs have contained melamine-tainted ingredients imported from China.
“I feel sorry for creating such a misunderstanding and worries because of the different inspection results,” he said.
The health authorities Wednesday decided to ban sales of all milk and milk products with ingredients imported from China until after they were tested negative for melamine, a toxic industrial chemical used by a number of Chinese firms in baby milk formula.
The chemical is blamed for the deaths of at least four babies and kidney problems in thousands of infants in China.
Late Wednesday health authorities decided to allow local foodstuffs that contain melamine in a concentrations of no more than 2.5 parts per million (ppm) to pass the inspection test.
Public outcry followed over why Taiwan would permit a concentration of 2.5 ppm of the toxic chemical in its foodstuffs while China allowed no melamine in its food products.
The criticism prompted Lin to resign, and his resignation was accepted by Premier Liu who has been faulted by lawmakers from the ruling Nationalist Party for having “zero crisis management ability.”
Liu Thursday acknowledged it is necessary for the Cabinet to straighten up its crisis management ability.
He also called for China to allow Taiwan to send a team of health experts and doctors to investigate the milk crisis on the mainland.
China said it hoped the five-member Taiwan delegation could arrive in China Saturday and hold talks with local experts on food safety issues the next day.
Mainland Affairs Council Chairwoman said the team will leave for China on Sunday.
Taiwan has imported at least 25 tons of milk powder tainted with the chemical melamine made by the Sanlu Group and a large amount of other diary and food products produced by other Chinese companies.
China’s tainted milk has caused no illnesses or deaths in Taiwan.
Taiwan has banned the import of Chinese diary and food products and said it would lift the ban when China can ensure the safety of its food exports. (dpa)