• 16 Nov
    Import tariff reduction will make it impossible to compete for juice drink producers

    Import tariff reduction will make it impossible to compete for juice drink producers

    BAHAMAS. Juice drink manufacturers in the Bahamas are still reeling from the decision to slash tariffs for rival imports by 50%. “The challenge now is that it is much more cheaper to purchase the imported products than it is to purchase ours. I wonder if people understand how significant this tariff rate has been on our market. It’s not difficult to compete; it’s impossible.” Said Mervin Sweeting Jr, president of Switcha, the Bahamanian juice brand, in Tribune Business.

    “Had they reduced tariffs along with Business Licenses, electricity costs and other taxes we could compete, but with no concessions added and reduced duty for foreign competitors, it doesn’t bode well for us,” said Mr Sweeting.

    “The Bahamas is hostile towards our business model and industry, and that is a sad thing. We have to now think of ways to counteract what has happened. We have seen in the past entire industries wiped out by government policy, and I don’t think that the Bahamas can afford more people losing their jobs.”

    Source: Tribune242.com

    By Caroline Calder News
  • 16 Nov
    Avocado growers cashing in on the wonder fruits popularity.

    Avocado growers cashing in on the wonder fruits popularity.

    INDIA. Bengaluru, the capital of the Indian state of Karnataka, is experiencing an ever-growing appetite for this wonder fruit with growers laughing all the way to the bank. Avocados (also known as butter fruit), which cost just Rs 3 per piece 10 years ago, are now selling at record high rates of Rs 250 to Rs 350 per kg. Much of the avocado’s rise to the popularity is its health and cosmetic benefits. “People have been consuming the highest quantity of avocado in the form of milkshakes. There are about 5,000 juice centres in Bengaluru and butter fruit milkshake has become a most-sought-after drink,” said Syed Ahmed, a wholesale dealer of avocados. This versatile fruit originating in Mexico, has proved increasingly popular over the years in certain supermarkets, food bazaars, kitchens and the mocktail menus of juice centres in the city.

    Source: The Times of India

    By Caroline Calder News
  • 16 Nov
    Major investment by Coca-Cola India in local juices

    Major investment by Coca-Cola India in local juices

    INDIA. As part of its Fruit Circular Economy initiative, Coca-Cola India will invest USD1.7 billion in India over the next five years. The intention is to produce a range of juices from fruits native to the country and sourced from specific regions. The objective is to create demand for local fruit and to consolidate and grow the local and regional value chain. Coca Cola aims to use fruit products in four ways: enhance the portfolio of juices with fruits that are grown in various regions of India, add juice to sparkling products, create innovative new products with Indian fruits, and increase the share of Indian agri exports to the global Coca-Cola system.

    “Coca-Cola is on a transformational journey towards becoming a total beverages company by enhancing its offerings to the world. Coca-Cola India’s relentless efforts around the virtuous Fruit Circular Economy, an initiative of using a variety of Indian fruits, is on its way to give better business results.” Said Coca-Cola India’s president T Krishnakumar

    The Indian fruits will be sourced and processed under the company’s flagship juice brand Minute Maid and will include guava, dasheri mango, kesar mango and sweet lemons.

    Source: FoodBev Media

    By Caroline Calder News
  • 16 Nov
    Lassonde Q3 results show downtown in sales

    Lassonde Q3 results show downtown in sales

    CANADA. Lassonde Industries Inc. the North American leader in the development, manufacture and sale of a wide range of ready-to-drink fruit and vegetable juices and drinks brands such as Apple & Eve, Everfresh, Fairlee, Fruité, Graves, Oasis and Rougemont has announced a downtown in sales in its Q3 2017 results.

    The Company’s sales totalled CAD369.5 million in the third quarter of 2017, down CAD7.7 million from CAD377.2 million in sales in the same quarter of 2016. Excluding a CAD9.1 million unfavourable foreign exchange impact, sales increased by CAD1.4 million (0.4%), largely due to an increase in sales of private label products and a favourable change in the sales mix of national brands, partly offset by a decrease in the sales volume of national brands

    “The 0.4% increase in adjusted sales is slightly below our expectations as national brand sales were below projections. Nevertheless, we remain optimistic that, for 2017 as a whole, our consolidated sales will slightly exceed those of 2016 when adjusted for the foreign exchange impact,” said Pierre-Paul Lassonde, Chairman of the Board and Chief Executive Officer of Lassonde Industries Inc.

    For the third quarter of 2017, the Company noted a decline in industry sales for the U.S. fruit juice and beverage market. Some U.S. regions were affected by a particularly difficult hurricane season, which had an impact on demand and the capacity to deliver products to those areas. In the Canadian market, industry sales volumes for the third quarter of 2017 were down year over year. The Company does not see any signs of this trend reversing in the last quarter of 2017.

    Source: Lassonde

    By Caroline Calder News
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