NEWSLETTER – AUGUST 2021
The August issue of “Food Business Insights – Newsletter from Sathguru” focuses on frozen foods and covers growth opportunities for Indian frozen food industry, importance of food safety, and the emerging technologies for frozen food industry.
18% GST on ready-to-cook idli, dosa, porridge mix, 5% on batter: AAR :
Authority for Advance Ruling (Ministry of Finance, GOI) held that ready-to-cook products such as dosa mixes, idli mix, sold in the name of brand name are taxable at 18 percent GST, even though batter for the same is taxable at 5%. Read more here
PepsiCo to sell Tropicana and other juice brands for $3.3 billion :
PepsiCo will sell Tropicana and other juices to a private equity firm in a USD 3.3 billion deal. The New York drink and snack company will keep a 39 per cent non-controlling stake in a newly formed joint venture in the deal with PAI Partners.
Nestlé explores emerging technologies for cultured meat :
Swiss food giant Nestlé is reportedly in talks with Israel’s Future Meat Technologies to use its lab-grown meat in upcoming products, which could spark a shift in the food system away from traditional animal agriculture for good.
Maharashtra FDA finds leading honey brands, adulterated :
Maharashtra FDA conducted a statewide campaign to check the quality of the honey and found out that there was adulteration of sugars like mannose, maltose, and maltotriose in honey of many reputed brands. It was also found that the natural components of honey have been artificially altered.
India's sunflower oil imports could jump to record as prices dip below soy oil :
India's imports of sunflower oil could rise to a record in 2021/22 as potential bumper crops in Russia and Ukraine pull prices below rival soy oil, making it lucrative for price-sensitive buyers from the subcontinent.
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