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Weekly Roundup... 18 March, 2020

Published on Mar 18 2020 10:15 AM

Weekly Roundup... 18 March, 2020

Nestlé has announced plans to launch a plant-based version of Milo in Australia. The new product uses soy and oats instead of milk powder along with its core ingredients - malt, barley, and cocoa. The product has retained its 'choc-malt' taste and 'iconic crunch', the food giant said. It has added vitamins and minerals to support effective energy release and contains less sugar than the original Milo.

Russia could limit exports of some food products if the coronavirus outbreak leads to a shortage, its officials said, adding that the domestic agriculture market remains stable and no deficit of grain was expected, reports Reuters. Grain exports from Russia, the world's largest wheat exporter, jumped last week as the rouble weakened against the dollar and fell to four-year lows.

Polish retailer Żabka has announced that it has donated PLN 4.5 million (€1.01 million) to the ministry of health to aid the government in handling coronavirus outbreak in the country.  The company said that the safety and health of all Polish citizens is a priority and it recognises the need to collectively deal with the emergency. President of Żabka Polska, Tomasz Suchański commented, “We appreciate the engagement of healthcare professionals, ministries, and the units they supervise. For this reason, as a company, we decided to financially support the institutions that play a strategic role in solving the problems that concern us all.”  The number of people affected with the virus reached 238 on March 17, according to a report in gazeta.pl.

Plant-based meat company Impossible Foods said it raised about $500 million in its latest series F funding round, which was led by South Korea's Mirae Asset Global Investments, a new investor. According to a source familiar with the deal, the post-money valuation now approaches $4 billion. Reuters reported in November that the company was aiming to more than double the $2 billion valuation it attained in its May funding round.

© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.

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