Latest news with #peanutbutter
The Herald
12-06-2025
- Business
- The Herald
Peanut butter maker to pay R500k penalty for contaminated products
Peanut butter manufacturer House of Natural Butters has agreed to pay an administrative fine of R500,000 after the National Consumer Commission (NCC) received recall notifications in February 2024 from Dis-Chem and Pick n Pay due to elevated levels of aflatoxin found in certain peanut butter. NCC spokesperson Phetho Ntaba said the NCC found that the affected products had higher than legally acceptable levels of aflatoxin as set out under R1145 Regulation Governing Tolerance of Fungus-Produced Toxins in foodstuffs. Ntaba said their investigation found that between May and November 2023, House of Natural Butters imported and supplied contaminated, decayed and impure groundnuts and byproducts to South African consumers through various retailers. In its ruling the National Consumer Tribunal noted that the manufacturer imported the products from Malawi and Zambia using trucks and trailers, via land borders and port entries. It said the trucks and trailers did not have the requisite certificates of acceptability required for the transportation of food. 'Laboratory tests results from various accredited food testing laboratories established that the products were contaminated, decayed and impure,' said Ntaba.
Reuters
10-06-2025
- Business
- Reuters
Packaged food maker J.M. Smucker forecasts annual profit below estimates
June 10 (Reuters) - Jif peanut butter maker J.M. Smucker (SJM.N), opens new tab forecast annual profit below estimates on Tuesday, as tariff uncertainty and consecutive price hikes squeeze demand for its dog snacks and sweet baked goods. Shares of Orrville, Ohio-based company were down about 8% in premarket trading. Packaged food makers, including J.M. Smucker, Kraft Heinz (KHC.O), opens new tab and Campbell's Co (CPB.O), opens new tab, have been raising product prices to counter higher costs from commodities, such as green coffee, which have hurt their sales. J.M. Smucker is also among the firms that have been facing the brunt of the Trump administration's ever-shifting tariff policy, which has disrupted businesses and rattled shoppers worldwide. "The current U.S. tariff impact on green coffee is our largest exposure that we will manage on top of navigating record-high costs for the commodity," said CEO Mark Smucker in a statement. The company said it purchases about 500 million pounds of green coffee annually, the majority of which is imported from countries such as Brazil and Vietnam, Smucker added. The company expects annual earnings per share in the range of $8.50-$9.50, compared with analysts' estimates of $10.26, according to data compiled by LSEG. Uncrustables sandwich maker said its fiscal 2026 forecast accounts for the impact of tariffs, changes in consumer behavior as well as ongoing input inflation. For the fourth quarter, the company posted net sales of $2.14 billion, compared with the estimate of $2.19 billion. The company's net sales in the quarter were hurt by declines in its pet foods, baked snacks as well as frozen handheld and spreads businesses in the United States. Net sales in its pet foods segment, which accounts for about 19% of its total revenue, decreased 12.6%, while the frozen foods segment dipped 0.2%, compared to a year ago.
CTV News
10-06-2025
- Business
- CTV News
Packaged food maker J.M. Smucker forecasts annual profit below estimate
Jif peanut butter maker J.M. Smucker SJM.N forecast annual profit below the estimate on Tuesday, as sequential price hikes have been squeezing demand for its dog snacks and sweet baked goods. Shares of Orrville, Ohio-based company were down about 7 per cent in premarket trading. Packaged food makers, including J.M. Smucker, Kraft Heinz KHC.O and Campbell's Co CPB.O, have been raising product prices to counter higher costs from commodities, such as green coffee, which have hurt their sales. J.M. Smucker is among the firms that have been facing the brunt of the Trump administration's ever-shifting tariff policy, which has disrupted businesses and rattled shoppers worldwide. The company expects annual profit in the range of $8.50-$9.50 per share, compared with analysts' estimate of $10.26 per share, according to data compiled by LSEG. Uncrustables sandwich maker said its fiscal 2026 forecast accounts for the impact from tariffs, changes in consumer behaviors as well as ongoing input inflation. For the fourth quarter, the company posted net sales of $2.14 billion, compared with the estimate of $2.19 billion. The company's net sales in the quarter were hurt by declines in its pet foods, baked snacks as well as frozen handheld and spreads businesses in the United States. Net sales in its pet foods segment, which accounts for about 19 per cent of its total revenue, decreased 12.6 per cent, while the frozen foods segment dipped 0.2 per cent, compared to a year ago. (Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Vijay Kishore)
Reuters
10-06-2025
- Business
- Reuters
Packaged food maker J.M. Smucker forecasts annual profit below estimate
June 10 (Reuters) - Jif peanut butter maker J.M. Smucker (SJM.N), opens new tab forecast annual profit below the estimate on Tuesday, as sequential price hikes have been squeezing demand for its dog snacks and sweet baked goods. Shares of Orrville, Ohio-based company were down about 7% in premarket trading. Packaged food makers, including J.M. Smucker, Kraft Heinz (KHC.O), opens new tab and Campbell's Co (CPB.O), opens new tab, have been raising product prices to counter higher costs from commodities, such as green coffee, which have hurt their sales. J.M. Smucker is among the firms that have been facing the brunt of the Trump administration's ever-shifting tariff policy, which has disrupted businesses and rattled shoppers worldwide. The company expects annual profit in the range of $8.50-$9.50 per share, compared with analysts' estimate of $10.26 per share, according to data compiled by LSEG. Uncrustables sandwich maker said its fiscal 2026 forecast accounts for the impact from tariffs, changes in consumer behaviors as well as ongoing input inflation. For the fourth quarter, the company posted net sales of $2.14 billion, compared with the estimate of $2.19 billion. The company's net sales in the quarter were hurt by declines in its pet foods, baked snacks as well as frozen handheld and spreads businesses in the United States. Net sales in its pet foods segment, which accounts for about 19% of its total revenue, decreased 12.6%, while the frozen foods segment dipped 0.2%, compared to a year ago.
News24
10-06-2025
- Business
- News24
Peanut butter maker fined after Pick n Pay, Dis-Chem recall
Supplied/ Pick n Pay Peanut butter manufacturer House of Natural Butters has agreed to pay a R500 000 fine more than a year after its products were recalled from Pick n Pay and Dis-Chem stores. In February last year, Pick n Pay recalled some peanut butter brands that contained higher-than-allowed aflatoxins, toxins produced by fungi. Pick n Pay recalled its No Name Smooth Peanut Butter, as well as the Eden peanut butter brand. Dis-Chem also recalled its own Lifestyle peanut butter. Both retailers confirmed that the National Consumer Commission (NCC) found they were supplied by House of Natural Butters. When the NCC investigated the company, they found it had supplied contaminated and decayed impure peanuts, groundnuts and other products to several retailers between May and November 2023. 'The respondent imported the products from Malawi and Zambia using trucks and trailers, via land borders and port entries. The trucks and trailers did not have the requisite certificates of acceptability required for the transportation of food.' The NCC said that laboratory test revealed the products were 'contaminated, decayed and impure'. The company, which is trading as Eden All Butters, agreed to pay the fine, which was confirmed by the National Consumer Tribunal last week. Meanwhile, the NCC said that another peanut butter manufacturer implicated in the matter was also being investigated. Acting NCC commissioner Hardin Ratshisusu said in a statement: 'The NCC welcomes this consent order [from the tribunal] as it brings this matter against House of Natural Butters to a finality. It is incumbent upon suppliers of food products in the South African market to ensure strict compliance with food safety regulations and the Consumer Protection Act.'
