UK infant formula at ‘historically high’ prices, says watchdog

Competition and Markets Authority launches full-scale investigation after finding costs have risen

The cost of infant milk remains at “historically high” levels despite some price falls in recent months, Britain’s competition watchdog has said, as it launched a full-scale investigation into baby and toddler formula.

The Competition and Markets Authority (CMA) found in November that the average price of infant formula had risen by 25% in the past two years and families could save more than £500 over the first year of a baby’s life by switching to cheaper powders. The findings were part of an analysis of pricing in 10 food categories, which also included milk and ready meals.

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From beehive to kitchen table: UK beekeepers call for new law to trace honey’s origin

British producers to back EU’s proposed regulations to stop trade in adulterated honey

Britain’s beekeepers are backing ­proposed new rules to combat fraud in the supply chain, ensuring a jar of honey can be traced on its journey of up to 5,000 miles from the beehive to the shop shelf.

The European parliament has agreed new labelling rules and a project to establish a traceability system for honey from harvesting to the consumer. The proposed rules are part of an overhaul of the “breakfast directives”, including the honey directive.

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A greener weed: the UK firm growing carbon-neutral cannabis

Glass Pharms hope its approach could show the way for all kinds of energy-intensive horticulture in the UK

For 26 years, Olivier Dehon worked in the corporate sector, ending up as chief financial officer for Xerox in the UK and Ireland before retiring four years ago. Last month he delivered his first consignment of high-strength cannabis.

Dehon’s dope is legal and above board, produced to supply the UK’s burgeoning market for medical cannabis on prescription. What’s more, Dehon and his colleagues believe it is the first carbon-neutral indoor weed grown anywhere in the world.

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Bank of England governor dampens hopes of interest rate cut

Andrew Bailey says cost of living had been higher than expected in December despite ‘encouraging’ inflation news

The Bank of England governor has doused hopes that better-than-expected inflation news last month will accelerate cuts in interest rates, stressing the need for further evidence of wage moderation before Threadneedle Street moves.

Appearing before the House of Lords economics committee on Wednesday, Andrew Bailey said it was “encouraging” that inflation had remained unchanged at 4% in January but the previous month’s figure for the cost of living had been higher than predicted.

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UK farmers vow to mount more blockades over cheap post-Brexit imports

Inspired by French action, British campaigners say they will continue slow tractor protests after Dover roads were blocked

Farmers say there will be further French-style blockades following a slow tractor protest at Dover against low supermarket prices and cheap food imports from post-Brexit trade deals.

Around 40 tractors and other farm vehicles blocked roads around the Kent port for several hours on Friday evening by driving slowly and carrying signs with slogans such as “No More Cheap Imports”.

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Dover Port health body fears gangs of meat smugglers looking to bypass new post-Brexit checks

Authority weighs up legal action against government over new checks on imported meat taking place 22 miles inland

The Port of Dover could become a target for criminals smuggling illegal and diseased meat into the country under new post-Brexit plans that will involve lorries from the continent being checked 22 miles inland, the port’s health authority has warned.

The Dover Port Health Authority (DPHA) is now considering legal action against the government over its decision to end physical checks of imported meat at a post within the port. Instead, lorries will be directed to a new checking facility half an hour’s drive up the M20 at Sevington, Ashford.

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Chocolate maker Hershey issues warning over record cocoa prices

US firm expects rising costs to hit profits and sales as consumers cut spending on treats

The US chocolatier Hershey has warned on profits and sales after a sharp increase in the cost of cocoa to record levels pushed up the price of chocolate, hitting cash-strapped consumers in the pocket.

Global cocoa prices hit a new peak of $5,874 (£4,655) a ton on Thursday in New York as dry weather continued to affect crops in west Africa, with poor harvests driving up prices in the region, which produces the majority of global supply.

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Del Monte Kenya representatives accused of seeking to cover up circumstances of men’s deaths

Exclusive: Investigation uncovers claims Del Monte representatives offered bribes in attempt to persuade men to back company’s version of events

Representatives of Del Monte Kenya have been accused of offering bribes in an attempt to cover up the circumstances in which four men died after going to steal pineapples from its farm in December.

The men’s bodies were recovered from a river on the vast plantation near Thika on Christmas Eve and Christmas Day last year. The four were part of a group of men who it is claimed were chased by the farm’s security guards after going to steal pineapples on 21 December.

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‘Diabolical actions’: Snoop Dogg and Master P sue Walmart in breakfast cereal spat

Rappers entered breakfast market with Snoop Cereal in 2023, and allege conspiracy between manufacturer Post Consumer Brands and supermarket chain Walmart to ‘choke’ startup brand

Rappers Snoop Dogg and Master P are suing US supermarket chain Walmart and food manufacturer Post Consumer Brands, claiming that the two companies conspired to sabotage the success of the pair’s new breakfast cereal enterprise.

Snoop Cereal launched last summer, with Master P hailing parent company Broadus Foods as the first Black-owned cereal company in the US: “This has been going on for over 100 years, that we’ve been consumers and never owners, so we’re changing that game.” The rappers partnered with Post to produce the cereal itself.

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Yes, it is cricket: Italy gives go-ahead to insect flour for human use

Nutrinsect defies Italian food purists with cricket flour that can be incorporated into range of foods

A company that produces flour made from crickets has become the first in Italy to be given the green light to sell food made from insects for human consumption, defying Italian food purists and even a government attempt to curb its use.

Josè Francesco Cianni, the chief executive of Nutrinsect, said: “a new page in the history of food has been opened” now that his nutrient-packed flour can be incorporated into an array of food items.

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New Brexit food checks likely to mean less choice, warn delis

Guild of Fine Food fears European suppliers of specialist produce will stop supplying UK because of red tape

Thousands of delicatessens and other specialist food shops have said new border rules that come in from Wednesday are likely to mean reduced choice of products for consumers.

The Guild of Fine Food (GFF), which represents 12,000 businesses, has raised fears that European suppliers of specialist foods such as cheeses and meats will stop supplying the UK as a result of the additional red tape for imported goods.

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Brexit border rules could cut shelf life of fresh food from EU by a fifth, say experts

Requirement for importers to give 24 hours’ notice of deliveries described as ‘unfeasible’ by suppliers

New Brexit border rules could cut the shelf life of fresh food from mainland Europe by a fifth and leave some deliveries from the EU unsaleable, major food bodies have warned.

The SPS Certification Working group, which represents 30 trade bodies covering £100bn of the UK’s food supply, has said new rules requiring importers to notify authorities a day before they arrive in the UK was “unfeasible” and could mean that some European businesses decide to stop supplying the UK.

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Britons switching to smaller, higher-quality alcoholic drinks, experts say

Increasing preference said to be driven by desire to be healthier and is fuelling trend for 100ml taster bottles

As the adage goes: good things come in small packages. According to alcohol industry experts British consumers are increasingly choosing to enjoy their beverages in smaller portions, but of higher quality – fuelling a trend for 100ml taster bottles.

The shift comes from a desire to be healthier, experts say, with drinking among UK teenagers and young people falling. In June 2023, Tesco sold 25% more low- and non-alcoholic beer than in dry January.

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Indonesian fruit picker landed in debt bondage challenges Home Office

Exclusive: Test case likely against UK’s seasonal worker scheme as charity alleges breach of right to be protected from labour exploitation

When Ismael found himself sleeping rough at York station in the late October cold he struggled to understand how an opportunity to pick berries 7,000 miles from his home had so quickly ended there.

He had left Indonesia less than four months earlier, in July 2022. He was 18 and ready for six months of hard work on a British farm to save for a science degree. “I thought the UK was the best place to work because I could save up a little money and help my parents,” he said.

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New Brexit checks ‘pose existential threat’ to UK fruit and flower growers

Exclusive: NFU warns blanket import checks from April could fuel long delays and damage future crops

The UK’s fruit and flower growers face an “existential threat” from new post-Brexit border checks that could damage business and affect next year’s crops, the country’s biggest farming body has said.

The National Farmers’ Union (NFU) warned that changes to import rules in April, which will impose checks at the border for nearly all young plants coming into the country, could cause long delays and result in plants being damaged or destroyed.

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Japan’s salarymen opt for ultra-cheap lunches as food prices continue to rise

Higher costs as a result of Ukraine war, supply chain issues and effects of Covid force lunching office workers to tighten belts

Even in a city of tens of thousands of restaurants, including a large number with Michelin stars, is it really possible in Tokyo to spend as little as ¥500 (£2.60) a day on lunch without eating the same modest meal day in, day out?

The answer, according to increasingly cash-strapped office workers in the Japanese capital, is a resounding yes.

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Why Home Office visa plans will be ‘nail in the coffin’ for UK hospitality

Rise in salary requirements will further fuel staff shortages in industry that relies on skilled migrant workers

Business live – latest updates

What do you call an Italian restaurant that doesn’t serve pizza?

During the 2022 Edinburgh fringe, Gusto’s restaurant in the city sounded like the punchline to one of the comedy festival’s jokes.

There’s a threshold at which it becomes impossible to make money, so you have to put prices up, which drives inflation, which flies in the face of what the government say they’re trying to do,” says Snell.

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Greggs enjoys bumper Christmas period as it hails easing inflation

Reduced cost pressures and popular festive bakes and chocolate orange muffins boost bakery chain

Greggs has hailed easing inflationary pressures after the UK’s biggest bakery chain rang up bumper Christmas sales amid less travel disruption and enthusiasm for seasonal specialities such as festive bakes and chocolate orange muffins.

The company said sales at established stores had risen 9.4% in the three months to 30 December as it attracted more customers with extended opening hours and by offering online ordering.

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Greenland startup begins shipping glacier ice to cocktail bars in the UAE

Arctic Ice argues its rare, pure product can be part of Greenland’s green transition and greater independence

Frozen daiquiri anyone? Drinking a cocktail on top of a Dubai skyscraper may seem decadent enough, but a Greenland entrepreneur wants to add ancient glacier ice scooped from the fjords to the glass, for the ultimate international thrill.

Arctic Ice harvests ice from the fjords of Greenland, and then ships them to the United Arab Emirates to sell to exclusive bars. Using glacial ice in drinks is a common practice in Greenland, and, over the years, several entrepreneurs have unsuccessfully attempted to export it. Its co-founder Malik V Rasmussen said the ice, which has been compressed over millennia, is completely without bubbles and melts more slowly than regular ice. It is also purer than the frozen mineral water usually used in Dubai’s ice cubes.

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Carrefour pulls PepsiCo products in four EU countries over price hikes

Stores in France, Italy, Spain and Belgium will no longer stock PepsiCo drinks, Lay’s and Doritos crisps and Quaker cereals

The French supermarket chain Carrefour has said it will stop selling PepsiCo products in stores in four European countries because the global food company has put its prices up by too much.

Shelves at Carrefours in France, Italy, Spain and Belgium will from Thursday carry signs saying the store will no longer stock PepsiCo products such as fizzy drinks, Lay’s and Doritos crisps and Quaker cereals “due to unacceptable price increases”.

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