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Today's headlines

  • New Zealand dairy group Fonterra reports fiscal FY 2016/17 revenue of NZ$19.2bn (US$15.52bn) - up 12% - with net profit 11% lower at NZ$745m (US$542.4m)

  • Nestlé increases its operating profit margin target to as much as 18.5% and confirms a ‘mid-single digit organic growth target’ - both to be implemented by 2020

  • In the UK, Cargill agrees to establish a joint venture with Faccenda Foods that brings together their businesses in chicken, turkey and duck

  • In New Zealand, milk processing company Synlait Milk is to set up a new R&D centre in Palmerston North after posting an increase in fiscal FY revenue

  • In the US, General Mills relaunches a 'classic' version of its Trix breakfast cereal after consumers complained that a new recipe, available since January, was not colourful enough

  • World history of tea - see new blog by Zenith Chairman Richard Hall on

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