Latest news with #CornRefinersAssociation
The Hill
4 days ago
- Business
- The Hill
Coke sweetener switch threatens US jobs, corn refiners say
President Trump's claim that Coca-Cola is switching to cane sugar has left a bitter taste for corn syrup lobbyists, who warn that the recipe shake-up will threaten the income of thousands of American farmers. The Corn Refiners Association, which represents high-fructose corn syrup producers, said the change threatens thousands of jobs and risks devastating primarily Midwest American farms. 'There are about 10,000 people working in corn refining. One-third of the corn refined goes for making high-fructose corn syrup,' said John Bode, president and CEO of the Corn Refiners Association. 'If we eliminate high-fructose corn syrup use, that's going to have a very substantial effect on at least a third of the production, probably significantly more of the corn refining industry,' he continued. 'So that's thousands of jobs.' Despite Trump's announcement Wednesday, Coca-Cola has yet to confirm the change. The announcement has reignited a decades-long food fight between the two sweeteners, with share prices for some major corn syrup companies experiencing dramatic drops Thursday. According to the American Medical Association, there are no known nutritional differences between high-fructose corn syrup and cane sugar, but neither should be consumed in large quantities.
Daily Mail
5 days ago
- Business
- Daily Mail
Trump's Coca-Cola recipe demand threatens market chaos
Donald Trump has been pushing Coca-Cola bosses to get sugar back in the US-produced version of the drink - but the move could have costly consequences. The president announced via Truth Social on Wednesday that he has been speaking with executives about 'using REAL Cane Sugar in Coke in the United States'. However, industry experts have warned that removing sweeteners from the drink in favor of real sugar could cost thousands of American jobs in manufacturing, and the idea has already caused chaos on the stock market. Corn Refiners Association CEO John Bode released a statement on Thursday warning that the recipe change could trigger economic mayhem and political turmoil. 'Replacing high fructose corn syrup with cane sugar would cost thousands of American food manufacturing jobs, depress farm income, and boost imports of foreign sugar, all with no nutritional benefit,' Bode said. Coca-Cola bosses have avoided confirming Trump's proposal, which would make the US version of their product taste much more like Mexican Coke. 'We appreciate President Trump's enthusiasm for our iconic Coca-Cola brand,' the $300 billion company said. 'More details on new innovative offerings within our Coca-Cola product range will be shared soon.' But Trump's announcement alone has already prompted shockwaves to rip through the stock market, costing investors billions of dollars. Shares in Archer Daniels Midland, a leading corn processor, plunged almost six percent in pre-market trading on Thursday. This reflects a potential hit to investors of around $1.5 billion. Another major corn refiner called Ingredion also suffered a nosedive in value, with shares dropping almost seven percent. Trump famously installed a red button on his desk that allows him to quickly summon a Diet Coke, his favorite drink. California Governor Gavin Newsom slammed Trump's Coke negotiations as a distraction technique after the president reneged on his promise to release the Epstein files. The Democrat governor shared a screenshot of Trump's Truth Social post via X with the caption: 'Oh thank god! I've totally forgotten about the Epstein files now!' An X user's replied to Newsom's tweet, asking Coca-Cola for clarification on whether Trump was 'telling the truth', prompting the company's statement about Trump's negotiations. Trump's social media posts also prompted the company to defend its use of high-fructose corn syrup in its US recipe. 'The name sounds complex, but high fructose corn syrup (HFCS) – which we use to sweeten some of our beverages – is actually just a sweetener made from corn,' Coca-Cola wrote in an X post. 'It's safe; it has about the same number of calories per serving as table sugar and is metabolized in a similar way by your body. 'The American Medical Association has confirmed that HFCS is no more likely to contribute to obesity than table sugar or other full-calorie sweeteners. 'Please be assured that Coca-Cola brand soft drinks do not contain any harmful substances. 'All Coca-Cola brand products are wholesome beverages manufactured in compliance with the federal law governing food safety and labeling, the laws of all the states, and the laws of over 200 countries throughout the world where they are sold.' The company switched from sugar to cheaper high-fructose corn syrup in the 1980s. It is the second ingredient after carbonated water in a can or bottle of Coke, according to the company. There are debates about which tastes better, but some prefer the taste of the original – as evidenced by the import of Mexican Coke into the U.S. Mexico continued to use sugar in its plants for a number of years, and some Mexican migrants and others across the border prefer that flavor, which prompted an import regimen. The Daily Mail has reached out to Coca-Cola about any change in its manufacturing or recipe and any other agreements the company reached with the president. Company CEO James Quincey has told investors that 'we continue to make progress on sugar reduction in our beverages,' as Axios noted. He said it had done so 'by changing recipes as well as by using our global marketing resources and distribution network to boost awareness of and interest in our ever-expanding portfolio.' It is unclear how the shift will play out in the new highly volatile tariff environment. Trump has announced a 50 percent tariff on Brazil, one leading sugar producers. Other producers have negotiated prior free trade agreements with the U.S. but now face a 10 percent baseline tariff. Florida has its own heavily subsidized sugar industry sometimes called 'Big Sugar' by critics for its political influence. U.S. sugar companies currently get subsidies totaling $4 billion per year. That makes the price in the U.S. about double the global price.
The Independent
5 days ago
- Business
- The Independent
Trump's cane sugar push for Coke triggers backlash from key industry
Donald Trump suggested Coca-Cola change its U.S. recipe from high-fructose corn syrup to sugar cane, stating it would be a "very good move". The Corn Refiners Association (CRA) opposed the proposal, warning it would cost thousands of American food manufacturing jobs and depress farm income. The CRA added that replacing high-fructose corn syrup would boost imports of foreign sugar and offer no nutritional benefit, contradicting Trump's stated support for American manufacturing. While Coca-Cola typically uses high-fructose corn syrup in the U.S., the company already uses cane sugar in its products in other countries, such as Mexico. Coca-Cola acknowledged Trump's enthusiasm for the brand but did not confirm a full shift to sugar cane, instead mentioning that details on new innovative offerings would be shared soon.
Daily Mail
5 days ago
- Business
- Daily Mail
Trump corners Coca-Cola with 'impossible' recipe demand that threatens market chaos... but will make it taste 'so much better'
Donald Trump has been pushing Coca-Cola bosses to get sugar back in the US-produced version of the drink - but the move could have costly consequences. The president announced via Truth Social on Wednesday that he had been speaking with executives about 'using REAL Cane Sugar in Coke in the United States'. However, industry experts have warned that removing sweeteners from the drink in favor of real sugar could cost thousands of American jobs in manufacturing, and the idea has already caused chaos on the stock market. Corn Refiners Association CEO John Bode released a statement on Thursday warning that the recipe change could trigger economic chaos and political turmoil. 'Replacing high fructose corn syrup with cane sugar would cost thousands of American food manufacturing jobs, depress farm income, and boost imports of foreign sugar, all with no nutritional benefit,' he said. Coca-Cola bosses have avoided confirming Trump's proposal, which would make the US version of their product taste much more like Mexican Coke. 'We appreciate President Trump's enthusiasm for our iconic Coca-Cola brand,' the company said. 'More details on new innovative offerings within our Coca-Cola product range will be shared soon.' But Trump's announcement alone has already prompted shockwaves to rip through the stock market, costing investors billions of dollars. Shares in Archer Daniels Midland, a leading corn processor, plunged almost six percent in pre-market trading on Thursday. This reflects a potential hit to investors of around $1.5 billion. Another major corn refiner called Ingredion also suffered a nosedive in value, with shares dropping almost seven percent. Trump famously installed a red button on his desk that allows him to quickly summon a Diet Coke, his favorite drink. In his Truth Social post pushing for the controversial recipe change, he claimed that Coca-Cola bosses had agreed to his proposal. 'I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so,' he wrote. 'I'd like to thank all of those in authority at Coca-Cola. This will be a very good move by them — You'll see. It's just better!' California Governor Gavin Newsom slammed Trump's Coke negotiations as a distraction technique after he reneged on his promise to release the Epstein files. He shared a screenshot of the president's Truth Social post via X with the caption: 'Oh thank god! I've totally forgotten about the Epstein files now!' An X user's response to Newsom's tweet asking Coca-Cola for clarification on whether Trump was 'telling the truth' prompted the statement from the company. The company moved away from using sugar in Coke during the 1980s, switching to cheaper high fructose corn syrup. It is the second ingredient after carbonated water in a can or bottle of Coke, according to the company. There are debates about which tastes better, but some prefer the taste of the original – as evidenced by the import of Mexican Coke into the U.S. Mexico continued to use sugar in its plants for a number of years, and some Mexican migrants and others across the border prefer that flavor, which prompted an import regimen. The Daily Mail has reached out to Coca-Cola about any change in its manufacturing or recipe and any other agreements the company reached with the president. Company CEO James Quincey has told investors that 'we continue to make progress on sugar reduction in our beverages,' as Axios noted. He said it had done so 'by changing recipes as well as by using our global marketing resources and distribution network to boost awareness of and interest in our ever-expanding portfolio.' It is unclear how the shift will play out in the new highly volatile tariff environment. Trump has announced a 50 percent tariff on Brazil, one leading sugar producers. Other producers have negotiated prior free trade agreements with the U.S. but now face a 10 percent baseline tariff. Florida has its own heavily subsidized sugar industry sometimes called 'Big Sugar' by critics for its political influence. U.S. sugar companies currently get subsidies totalling $4 billion per year. That makes the price in the U.S. about double the global price. Trump's Health and Human Services Secretary Robert F. Kennedy has called sugar 'as addictive as crack.' 'It's hurting them and it's addicting them and it's changing their taste buds so that they crave it,' he said. He declared in April that 'sugar is poison, and Americans need to know that it's poison.' He has also crusaded to eliminate certain dies from foods.
Yahoo
5 days ago
- Business
- Yahoo
US corn growers warn Trump's push for cane sugar in Coke will cost thousands of American jobs
U.S. corn growers have said that Donald Trump's push to use real sugar cane in Coca-Cola 'doesn't make sense' and will cost thousands of American food manufacturing jobs. In a statement, the Corn Refiners Association added that the move would also lower farm income and boost imports of foreign sugar 'all with no nutritional benefit.' It comes after Trump announced Wednesday that he had spoken to executives at Coca-Cola about changing the recipe – replacing high fructose corn syrup with sugar cane. 'This will be a very good move by them — You'll see. It's just better!' the president wrote. While Coca-Cola in the U.S. is typically made with high-fructose corn syrup, the soda company uses cane sugar in other countries, such as Mexico. U.S. corn growers have said that Donald Trump's push to use real sugar cane in Coca Cola 'doesn't make sense' and will cost thousands of American food manufacturing jobs (AP) While Coca-Cola in the U.S. is typically made with high-fructose corn syrup, the soda company uses cane sugar in other countries, such as Mexico (AP) 'Replacing high fructose corn syrup with cane sugar doesn't make sense,' the CRA wrote in their statement.'President Trump stands for American manufacturing jobs, American farmers and reducing the trade deficit.' 'Replacing high fructose corn syrup with cane sugar would cost thousands of American food manufacturing jobs, depress farm income, and boost imports of foreign sugar, all with no nutritional benefit.' While it has been claimed previously that high-fructose corn syrup is more harmful than other sugars, a Healthline article last updated in December 2023 said high-fructose corn syrup and regular table sugar have similar effects on a person's health, and both are harmful when consumed excessively. Trump is known for his love of Diet Coke, which is made with the artificial sweetener aspartame. In January, Coca-Cola presented Trump with a commemorative Diet Coke bottle. Trump is known for his love of Diet Coke, which is made with the artificial sweetener aspartame. In January, Coca-Cola presented Trump with a commemorative Diet Coke bottle (Margo Martin/X) As noted by Axios, a full shift to the use of cane sugar from high fructose corn syrup in Coca-Cola could result in an economic hit to Iowa – the country's largest corn producer. However, it would also help the economy of Florida, the U.S.'s top cane sugar producer. In a statement, Coca-Cola did not confirm a full shift to the use of sugar cane. "We appreciate President Trump's enthusiasm for our iconic Coca‑Cola brand," a spokesperson said. "More details on new innovative offerings within our Coca‑Cola product range will be shared soon."
