NEWS
8 ASIAN TRADER 7 MARCH 2025
Extreme weather
events are expected to
lead to volatile food
prices throughout
2025, supply chain
analysts have warned,
after cocoa and cofee
prices more than
doubled over the past
year.
According to recent
research by Inverto,
steep rises are
observed in the prices
of food commodities in the year
to January that correlated with
unexpected weather.
The highest were cocoa and
cofee, up 163% and 103%
respectively, due to a combina-
tion of higher-than-average
rainfall and temperatures.
Sunflower oil prices
increased by 56% after drought
caused poor crop yields in
Bulgaria and Ukraine, which
also continued to be afected by
the Russian invasion.
Other food commodities
with sharp year-on-year price
rises included orange juice and
butter, both up by more than a
third, and beef, up by just over a
quarter.
The research findings come
close on the heels of a report by
National Preparedness
Commission (NPC), stating that
UK food supply chains face
severe risks from climate
change, trade barriers and global
instability.
NPC warned that the
country is not
prepared for the risks
facing its food supply.
From climate change
and geopolitical
tensions to economic
shocks and trade
barriers, these
challenges are making
the current system un-
sustainable.
The NPC report
calls for legislative
action, suggesting
food security should be a
significant legal mandate, akin
to national security or energy.
A proposed Food Security
and Resilience Act could
possibly enshrine food security
into law, recognising it as a
critical element of the UK’s
national infrastructure.
The report recommends a
comprehensive overhaul,
urging the establishment of a
National Food Security
Council.
2025 at the mercy of global climate events – none of it good
Extreme weather may lead
Extreme weather may lead
to volatile food prices
to volatile food prices
Approximately £663
million has been paid
to over 4,300 claim-
ants across four
schemes for the
victims of Post Ofce
Horizon scandal. This
is up from £594
million figure
reported last month.
Sharing the latest
report, Department
for Business and Trade (DBT)
stated that £315 million has
been paid under Horizon
Shortfall Scheme (HSS),
including interim payments
while £128m has been paid
under Group Litigation Order
(GLO) Scheme.
£65 million has been paid
under Overturned Convic-
tions (OC) and £156 million
has been paid under Horizon
Convictions Redress Scheme
(HCRS).
Initial interim payments
are available to eligible
postmasters upon getting
their conviction overturned
on the grounds that it
was reliant on
Horizon evidence,
states the depart-
ment.
As of 31 October
2024, all 111 eligible
claimants have either
reached full and final
settlement or have
received a minimum
of £200,000 through
interim payments.
From these 111, Post Ofce
Ltd has received 82 full and
final claims.
Of these 82 claims, 66
have been paid and a further 7
have received ofers. The
remaining 9 are still awaiting
ofers from Post Ofce Ltd.
Over £663m paid to Post Ofce
Horizon victims, says government
Spice supplier fined over
Spice supplier fined over
safety checks
safety checks
A food importer and distributor has
been fined after failing safety checks
on potentially toxic foods it imported.
Uxbridge Magistrates’ Court
heard that Southall-based Al Noor
Ltd failed to notify port authorities
about a shipment of spice mixes
from Pakistan in May 2022, meaning
it did not undergo the necessary
checks.
The court heard that Al Noor Ltd,
in Johnson Street, had intentionally
obstructed authorised ofcers. It was
ordered to pay fines and costs
totalling £9,424, while Akhlaq was
ordered to pay a total of £3,285.
Diageo sees ‘big oppor-
Diageo sees ‘big oppor-
tunity’ in low alcohol
tunity’ in low alcohol
Diageo believes the no- and
low-alcohol category is a “big
opportunity for the industry”.
Speaking at a press briefing for
Diageo’s financial results, CEO Debra
Crew voiced her optimism for the
no-and-low segment and noted that
the group’s non-alcoholic portfolio is
up by approximately 56%.
The firm’s alcohol-free portfolio
includes Seedlip, Ritual Zero Proof
and non-alcoholic alternatives for its
Gordon’s, Tanqueray and Captain
Morgan brands.
Crew believes the zebra striping
trend – switching between alcoholic
and non-alcoholic drinks when
socialising, “keeps people” within the
group’s alcohol-free brands.
Coca-Cola reports strong
Coca-Cola reports strong
2024 results
2024 results
The Coca-Cola Company announced
robust fourth-quarter and full-year
2024 results, demonstrating the
efectiveness of its “all-weather
strategy” amidst a dynamic global
landscape.
The beverage giant reported a 6%
increase in net revenues for the fourth
quarter, reaching $11.5 billion
(£9.24bn), while organic revenues
surged by an impressive 14%. For the
full year, net revenues grew 3% to
$47.1bn, with organic revenue up 12%.
Fourth-quarter organic revenue
saw a 14% increase, fueled by a 9% rise
in price/mix and 5% in concentrate
sales. Full-year organic revenue grew
12%.