One of the world’s most important importers of food is fast becoming the largest exporter of regulations. As countries look to formulate their own regulations on food, the focus is defi nitely on Europe, said Simon Pettman. Speaking at the Vitafoods International Discussion Forum in May, the director of the international food and nutrition policy consultancy EAS points out that with international regulators now more closely monitoring developments in the EU, Europe must “get it right”. The food sector has to improve information-sharing, science and ideas, he said, as a means of coming up with workable solutions to regulatory issues.
Chains such as Safeway, Whole Foods Markets and Wal-Mart, are pushing solar panel installation projects to gain a 30% tax credit. Kathy Loftus from Whole Foods Market, commented: "We're hoping that our purchases along with some other retailers will help bring the technology costs."
After X5 announced that all new hypermarkets will be opened under the Karusel brand, Russia's largest food retailer, gained 3.2% in London trading. The retailer aims to add as much as 160,000 sq m of space this year as economic growth in Russia enables more people to buy higher-priced foods and shop in stores rather than at open markets.
Wal-Mart has announced plans to invest around USD 1 billion in Brazil and open 80 to 90 new stores, in all its formats, in 2009. It will be the largest investment the retailer has made in Brazil since it opened its first operation in Sao Paulo in 1995.
Although sales are up by 17% for Fresh & Wild Ltd, the UK unit of Whole Foods Market, the company has reported ₤7 million loss for the year to September 30, 2007. Some analysts feel that there is too much working against Whole Foods for it to really get off the ground.
Carrefour has been keeping its entry into Iran low-key, as both the retailer and Tehran's government suspect that the foreign presence may cause some excitement. It is not clear yet how feasible it will be for Carrefour to maintain supply in the face of financial restrictions on trade with Iran as a result of US sanctions.
The sale of 107 Somerfield stores, purchased last month by the Co-operative Group, is being handled by Credit Suisse which has requested that potential bidders offer up proposals before 22 August.
