Latest news with #caneSugar
Times
11 hours ago
- Business
- Times
Trump toasts victory as Coca-Cola confirms cane sugar version
President Trump is savouring the sweet taste of victory after Coca-Cola announced it would start selling a cane-sugar version in the US. Trump had announced, in an unexpected intervention last week, that Coca-Cola would switch from high-fructose corn syrup to cane sugar. 'It's just better!' he wrote on his Truth Social platform. Initially the Atlanta-based drinks company appeared reluctant to confirm his announcement. However, unveiling its quarterly results on Tuesday it promised to start selling Coke made with American cane sugar in the autumn. The company said the sugar version would complement Coca-Cola's 'strong core portfolio' and was part of its 'ongoing innovation agenda'. Cane sugar is used in countries outside the US, including Mexico, but the company moved to cheaper corn syrup in the US in the 1980s. Mexican Coke has a cult status in the US, where it is sold in glass bottles and regarded by connoisseurs — including Rishi Sunak, the British former prime minister — as superior in taste to the corn syrup version. American farmers across several states in the Midwest cultivate about $74 billion of corn a year, compared with about $1.35 billion a year of cane sugar, grown mostly in Florida, Louisiana and Texas. Trump himself drinks Diet Coke, which uses the sweetener aspartame, and upon returning to the White House this year he reinstalled a button in the Oval Office to summon cans of his favourite drink. His interest in the full-fat version appears to derive from his friendship with José Fanjul, a Cuban-born cane sugar magnate and Republican donor. Trump held a meeting earlier this year with James Quincey, the chief executive of Coca-Cola. According to 2024, a new book on Trump's re-election by Josh Dawsey, Tyler Pager and Isaac Arnsdorf, during the meeting Trump called up Fanjul and put him on speakerphone, allowing the billionaire to interrogate Quincey over the company's use of corn syrup rather than cane sugar. Trump with James Quincey, who offered him a commemorative bottle for his re-election Doctors say cane sugar and corn syrup are equally damaging to people's health. Robert F Kennedy Jr, the US health secretary, who has attempted to reduce the number of additives and preservatives in American food, has previously described sugar as a 'poison'. But after Trump's intervention, Kennedy said a decision by Steak 'n Shake, a fast-food chain, to switch to cane sugar Coke was evidence that his Make America Healthy Again (Maha) movement was 'winning'.
Gizmodo
20 hours ago
- Business
- Gizmodo
Coke Bends the Knee to Trump
President Donald Trump seems to have caught Coca-Cola off guard when he randomly announced last week that the company would be switching its signature soft drink brand from high-fructose corn syrup to cane sugar. The announcement seemed to surprise the folks at Coca-Cola, who wouldn't confirm any details at the time and defended the use of high fructose corn syrup. But now it looks like the company is on board for some kind of new Coke product that uses cane sugar. 'As part of its ongoing innovation agenda, this fall in the United States, the company plans to launch an offering made with U.S. cane sugar to expand its Trademark Coca-Cola product range,' a spokesperson for Coca-Cola told Gizmodo via email. 'This addition is designed to complement the company's strong core portfolio and offer more choices across occasions and preferences.' Coca-Cola already sells a cane sugar version of its flagship product in U.S. stores, commonly referred to as 'Mexican Coke,' since it's imported from our neighbor to the south. But Coke seems to be making a distinction that this new product will use American-grown cane sugar. Louisiana, Florida, and Texas are the primary states where sugarcane is grown in the U.S. It's not clear how widely available this new unnamed cane sugar Coke product will be, but it sounds like it will not be fully replacing the Coke that uses high fructose corn syrup anytime soon. President Trump previously made his surprise announcement about the company using cane sugar while heavily suggesting it would be a switch for every Coke sold in the U.S. market. '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,' Trump wrote on Truth Social. '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!' Switching to cane sugar isn't something that makes soda any healthier for you, according to the FDA, but it is one big goal of the so-called Make America Healthy Again (MAHA) movement, led by the Secretary of Health and Human Services, Robert F. Kennedy Jr. The Kennedy heir is oddly fixated on fast food and junk food, but not in the way that most doctors would recommend. The healthier alternative to soda is water or juice, not products filled to the brim with added sugars. Coca-Cola defended its use of high fructose corn syrup before Tuesday's announcement, tweeting last week that it contributes to obesity in the exact same way as sugarcane. 'The American Medical Association has confirmed that HFCS is no more likely to contribute to obesity than table sugar or other full-calorie sweeteners,' the company wrote on July 16. '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.' Pepsi also announced it would eliminate artificial colors and flavors from Lay's and Tostitos by the end of the year, something seen as another big victory by the MAHA folks. But, again, the healthy alternative to potato chips is whole fruits and vegetables, not a tweak to the way those processed foods are colored. Coca-Cola reported earnings Tuesday, and net revenues grew 1% to $12.5 billion. Earnings per share grew 58% to $0.88.
Entrepreneur
a day ago
- Business
- Entrepreneur
When Is Coca-Cola Is Releasing Coke Made with Cane Sugar?
On Tuesday, the Coca-Cola Co. announced that it is launching a version of Coke made with American cane sugar after President Trump requested the change. Last week on Truth Social, President Donald Trump wrote that he spoke with Coca-Cola about using cane sugar in the U.S. version of Coke, and "they have agreed to do so." At the time, the company tip-toed around the claims, issuing a statement saying that while it appreciated Trump's "enthusiasm," more " be shared soon." Looks like "soon" means later this year, according to a statement on Tuesday. "As part of its ongoing innovation agenda, this fall in the United States, the company plans to launch an offering made with U.S. cane sugar to expand its Trademark Coca-Cola product range," the statement said. "As you may have seen last week, we appreciate the president's enthusiasm for our Coca-Cola brand," Coke CEO James Quincey said on an earnings call Tuesday, noting that the beverage giant already uses cane sugar in many of its products, including coffees, teas, lemonades, and the Vitamin Water line. "Mexican Coke" has been popular with U.S. consumers for years, and social media has only grown the fandom. The name has become synonymous with Coke-made-with-cane-sugar, as that is how the drink is produced in Mexico and some European countries. Related: Coca-Cola Rolls Out a 'Spiced' New Permanent Flavor — Its First in 3 Years Coca-Cola currently uses high fructose corn syrup to sweeten its U.S. sodas, but the cane sugar-sweetened version can be found stateside — usually in specialty grocery stores or warehouses like Costco. "I think that it will be an enduring option for consumer," Quincey said on the call. "We are definitely looking to use the whole toolkit of available sweetening options where there are consumer preferences." Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success.
Yahoo
3 days ago
- Business
- Yahoo
Coke's shift to cane sugar would be expensive, hurt US farmers
By Marcelo Teixeira, Karl Plume and Renee Hickman NEW YORK (Reuters) -A possible move by Coca-Cola , and other beverage and food industries, to use cane sugar instead of corn syrup as a sweetener would be difficult and expensive to implement, while mostly negative for farmers in the United States. U.S. President Donald Trump said on Wednesday that Coca-Cola had agreed to use cane sugar in its beverages in the country after his discussions with the maker of the top soda pop brand. Health Secretary Robert F. Kennedy Jr. and activists from his Make America Healthy Again (MAHA) campaign have been pushing for changes in ingredients used by the food and beverage industry, claiming the proposed substitutes are healthier. Kennedy has said the consumption of both sugar and high fructose corn syrup are unhealthy, and scientists say sugar presents some nutritional benefits over high fructose corn syrup. Coca-Cola already sells Coke made from cane sugar in other markets, including Mexico, and some U.S. grocery stores carry glass bottles with cane sugar labeled "Mexican" Coke. In response to Trump's comment, Coca-Cola said "more details on new innovative offerings within our Coca-Cola product range will be shared soon.' PepsiCo also said on Thursday it would use sugar in its products like Pepsi beverages if consumers want it. Industry analysts, however, said changes in the formulation of the rest of the Coke sold in the U.S., and other beverages and candies, would involve significant adjustments to companies' supply chains, since corn syrup and sugar come from different producers. It would also involve changes to product labeling, and cost more. "Food and beverage industries started to use corn syrup in the U.S. in the past because of costs. It is cheaper than sugar," said Ron Sterk, a senior editor at SOSland Publishing, an information provider for the ingredients industry in the U.S. He said the beverage industry uses 55% High Fructose Corn Syrup, or 55HFCS, while bakers use 42% HFCS. The Corn Refiners Association said the complete elimination of high fructose corn syrup from the U.S. food and beverage supply would cut corn prices by up to 34 cents a bushel, resulting in a loss of $5.1 billion in farm revenue. "The resulting economic shockwave would lead to rural job losses and significant economic consequences to communities across the country," CRA said. Agricultural processors such as Archer-Daniels-Midland and Ingredion, two of the largest HFCS producers, grind corn at mills dotted around the Midwest farm belt to produce corn sweetener and other goods like ethanol biofuel. Shares of both companies fell on Thursday. ADM is estimated to ship 4 billion to 4.5 billion pounds of high fructose corn syrup every year, accounting for roughly 6% to 7% of projected 2026 earnings, said analyst Heather Jones of Heather Jones Research. "If Coke were to shift the entirety of its HF55 usage to cane, the cost increase would very likely exceed $1 billion given the current price gap between HF55 and cane sugar and the probability of very large price increases for the latter," Jones said in a research note. To produce one pound of HFCS, the industry uses around 2.5 pounds of corn, so a large shift in corn syrup use in the U.S. would hurt demand for the cereal, hurting corn growers, while probably boosting imports of cane sugar since there is not enough produced in the U.S. to satisfy American consumers' sweet tooth. SUGAR DEFICIT Around 400 million bushels of corn are used annually to make corn syrup for drinks and other food products, representing around 2.5% of U.S. corn production, according to U.S. government data. The U.S. produces around 3.6 million metric tons of cane sugar per year, half of that in Trump's home state of Florida, compared with around 7.3 million tons of corn syrup. Trump's ongoing trade wars, however, would make it difficult to cover the deficit, sugar analyst Michael McDougall said. "It will most likely come from Brazil," he said, referring to the world's top cane sugar producer, "but Trump just hit Brazil with a 50% import tariff." Not only does cane sugar cost more, but Coca-Cola has independent bottlers with hundreds of facilities already designed for use with high fructose corn syrup, said James McDonnell, partner at CIL Management Consultants. A reformulation would require additional investments, said McDonnell, and it is unlikely that bottlers would want to eat the cost. Consumers will also balk at the added cost, he said, "and you thought they were angry at the price of eggs!" Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
7 days ago
- Business
- CTV News
Trump says Coca-Cola will use real sugar in its U.S. flagship drink. The company isn't confirming that
Former President Donald Trump drinks a Diet Coke during the ProAm of the LIV Golf Team Championship at Trump National Doral Golf Club, Oct. 27, 2022, in Doral, Fla. (AP Photo/Lynne Sladky, File) WASHINGTON — Make American Coke Great Again? U.S. President Donald Trump said Wednesday that Coca-Cola has agreed to use real cane sugar in its flagship soft drink in the U.S. at his suggestion — though the company didn't confirm such a move. Any switch from high-fructose corn syrup in Coke sold in the United States would put Coca-Cola more in line with its practice in other countries, including Mexico and Australia. But it wouldn't affect Trump's drink of choice, Diet Coke, which uses aspartame as a calorie-free beverage. '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,' Trump wrote on his social media site. '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!' A spokesperson for Atlanta-based Coca-Cola Co. said in a statement that the company appreciated Trump's enthusiasm and promised that more details on new offerings within its products would be shared soon. Coca-Cola didn't elaborate. But the company has long indulged U.S. fans of cane sugar by importing glass bottles of Mexican Coke to the U.S. since 2005. Returning to sugar in U.S. production, meanwhile, might affect the nation's corn farmers, whose yields are used in artificial sweeteners. 'Replacing high fructose corn syrup with cane sugar doesn't make sense,' Corn Refiners Association President and CEO John Bode said in a 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.' Trump himself is such a fan of Diet Coke that that he had a red button installed on the Resolute Desk in the Oval Office that he can press to have a White House butler bring one in for him. Despite his fondness for Diet Coke, his relationship with the company hasn't always been sweet. In a series of posts in 2012, Trump suggested diet soda might be connected to weight gain before eventually writing, 'The Coca Cola company is not happy with me — that's okay, I'll still keep drinking that garbage.' A bottle of Diet Coke could be seen sitting next to his chair years later, at a G20 summit in 2017. And The New York Times reported in 2018 that he was drinking a dozen Diet Cokes daily. __ Associated Press writer Dee-Ann Durbin in Detroit and Josh Funk in Omaha, Nebraska, contributed to this story. Will Weissert, The Associated Press
