Food officials in the European Union have requested 41 wines, cheeses and other products be protected in upcoming trade talks. They contend international versions of products such as Chablis wine, Roquefort cheese and Parma ham are being imitated worldwide and damaging the reputation of the original products.
Market analysis shows Tesco reaching sales of $1.09 billion in Poland by the end of the year. The research by IGD shows Tesco claiming the top spot in the Polish grocery market, passing Carrefour, Auchan, Casino and Jeronimo Martins.
Milk prices are set to increase next week in New York, as the state's agriculture department increased the maximum price allowed by 47 cents, to an average of $3.16 a gallon. Retailers worry milk sales will decrease, but dairy farmers are pleased, saying they need the increase just to cover increased expenses.
The International Food Policy Research Institute points to the $24 billion lost every year due to protectionism and subsidies as harmful to developing nations and encourages the World Trade Organization to create a more fair food trade system at its meeting next month.
Same-store sales at the world's largest retailer increased 4.6% last month, beating estimates. Wal-Mart increased its estimate for second-quarter earnings to 52 cents a share and estimated this month's same-store sales to increase 3% to 5%.