Wednesday, 27 July 2016

Volatility Forum: Brexit Adds Uncertainty in Agricultural Markets

Volatility Forum: Brexit Adds Uncertainty in Agric...

    UK agriculture needs to build resilience to market shocks now more than ever, according to t...

The 20th EAPR Conference to Take Place in Versailles Next Year

The 20th EAPR Conference to Take Place in Versaill...

   ARVALIS – Institut du végétal is organizing the 20th Conference of the European Association for ...

INTERPOM | PRIMEURS 2016: Growing through Precision Technology

INTERPOM | PRIMEURS 2016: Growing through Precisio...

  The organizers of INTERPOM | PRIMEURS 2016 have announced the biggest edition ever of the trade...

Utz Foods Acquires Golden Enterprises for USD135m

Utz Foods Acquires Golden Enterprises for USD135m

  Utz Quality Foods Inc., the family-owned Hanover, Pennsylvania-based potato-chip and snack-food comp...

Monsanto Sees Bayer’s Proposal as Financially Inadequate

Monsanto Sees Bayer’s Proposal as Financially Inadequat...

  Monsanto Company has recently announced that its board of directors unanimously views Bayer AG’s rev...

Congress Passes GMO Food Labeling Bill

Congress Passes GMO Food Labeling Bill

  The US Congress has recently sent legislation, backed by the National Potato Council and other agric...

tna's Innovative Seasoning Solution Reduces Lead Time for Snack Producer

tna's Innovative Seasoning Solution Reduces Lead Time f...

  Canadian-based Brandneu Foods has significantly reduced lead times for its popular range of kale chi...

Tummers Develops Washing Line for Fragile Potatoes

Tummers Develops Washing Line for Fragile Potatoes

 Tummers, the machinery provider for potato processing, developed a washing line for the very fragile a...

French Student Develops Hand-held Pesticide Detector, Scan Eat

French Student Develops Hand-held Pesticide Detector, S...

 A 25-year-old French student has won a EUR150k prize from the French Ministry of Agriculture to develo...

Kiremko is the Main Supplier for New Project Linkage Farm Frites in China

Kiremko is the Main ...

   Dutch engineering company Kiremko will be the main sup...

McCain Foods Invests USD65m in Expanding Its French Fries Plant in Canada

McCain Foods Invests...

McCain Foods (Canada) announced a major investment of USD6...

Branston Began the Expansion of Its Potato Processing Plant in Lincoln

Branston Began the E...

The UK potato supplier Branston has begun work on its GBP5...

Processed Potatoes in EU Worth EUR10b in 2014

Processed Potatoes i...

  Processed potatoes (mainly frozen chips and crisps) wer...

Aviko Introduces a Guide for Gluten-free Catering

Aviko Introduces a G...

 The potato processor Aviko is supporting caterers during ...

Government in Venezuela Authorizes Import of Potato Seeds

Government in Venezu...

   The Deputy Minister of Agriculture in Venezuela, José ...

Scientists Reveal Potato Parasite’s “Toolkit"

Scientists Reveal Po...

  An international research collaboration led by the Univ...

Kangaroo Island Potato Producer Wins the “Mini MBA” for Farmers

Kangaroo Island Pota...

 Kangaroo Island potato producer Peter Cooper has been nam...

CEJA President: Losing Young Farmers Puts the Future of European Food Production at Risk

CEJA President: Losi...

  CEJA President, Alan Jagoe, addressed EU agriculture mi...

Researchers Develop Nutrient-rich Purple Potato

Researchers Develop ...

  A group of researchers from CSU have recently developed...

As consumers feel the pinch of recession, they are likely to shun pricier fresh produce and head for cheaper fare in supermarket freezers, predicted the chief executive officer of frozen foods firm Pinguin.


"If this crisis goes on long enough, people will get to understand that they can get their biggest savings with frozen goods," CEO Herwig Dejonghe told Reuters in an interview.
"Frozen foods are underestimated and undervalued in the market, but people will discover that they can have the same quality of life at about a 25 to 30 percent lower cost, on average."
Dejonghe expected the recession-driven switch in consumer behaviour and the boost to his turnover to be a gradual medium-term effect, rather than a short-term spike.
Belgian Pinguin, which in November forecast a consolidated operating income of 440 million euros for 2008, produces a range of frozen vegetables, potatoes and ready-meals and sells them to grocery stores and food service groups in Europe and Asia, under its own and private labels.
One difficulty in a recession, Dejonghe said, is that consumers are loathe to support price increases. However, because vegetable prices are less volatile than other food staples, Dejonghe said this isn't such an issue for Pinguin.
Pinguin has seen a rapid increase in turnover of late, though mainly due to a slew of recent acquisitions. Last year the company bought UK frozen vegetable group Padley Vegetables and Belgian deep-frozen potato group Lutosa.
Lutosa now accounts for about 50 per cent of Pinguin's sales, Dejonghe said, which will be reflected in January when Pinguin will change its name and re-list as Pinguin-Lutosa.

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