Page 6 - Food & Drink magazine June 2021

NEWS
Sector
steps up for Plastics Pact
THE Australian food and beverage sector has stepped up to the task of creating a circular economy for plastics, with 12 manufacturers in the APAC region signing on as founding members of the ANZPAC Plastics Pact.
Three years in the making, the pact sets four ambitious targets for 2025:
• eliminating unnecessary and
problematic plastic packaging through redesign, innovation and alternative (reuse) delivery models;
• 100 per cent of plastic packaging to be reusable, recyclable or compostable packaging by 2025;
• increasing plastic packaging collected and effectively recycled by 25 per cent for each geography within the ANZPAC region; and
• achieving an average of 25 per cent recycled content in plastic packaging across the region. The pact will be administered
by the Australian Packaging Covenant Organisation and represents the complete plastics supply chain – from leading brands, packaging manufacturers and retailers, to resource recovery leaders, government and NGOs.
Some of the food and beverage manufacturers and brands are Aldi, Coles, Woolworths, Mondelez Australia, Asahi Beverages, Arnott’s, Nestlé Australia, and UnileverAustralia. ✷
Budget 2021: Tax relief for brewers, distillers
IN a win for distillers and brewers across the country, Federal Treasurer Josh Frydenberg announced an increase in the excise refund cap for distillers and brewers from $100,000 to $350,000 in the 2021/22 Federal Budget.
From 1 July 2021, all
eligible brewers and
distillers will receive full remission – up from 60 per cent – of any excise they pay on the alcohol they produce up to a cap of $350,000 each financial year.
It will align the Excise Refund Scheme for brewers and distillers with the Wine Equalisation Tax Producer Rebate, putting alcohol
manufacturers and wine producers on an equal footing.
Treasury expects around 600 brewers and 400 distillers will benefit from $225 million in tax relief over the forward estimates period in the 2021/22 Budget.
An extension to the temporary instant asset write-off, and the loss carry-back, for another two years, at a cost of $20.7 billion for the two schemes.
It also boosted its apprentice training support which pays businesshalfthewages. ✷
Barambah Organics acquires five:am
QUEENSLAND-BASED
Barambah Organics has acquired yoghurt business five:am from PZ Cussons. It will sit alongside Barambah’s
growing artisan portfolio. Founded in 2010, five:am produces organic yoghurts
made from 100 per cent natural ingredients, and is free from pesticides and hormones. Its production is based in Carrum Downs, Victoria.
Barambah will acquire the whole business, which offers “complementary geographies, channels and brand differentiation” for the business.
BarambahOrganicsCEO
Matthew Stanton said the team was looking forward to realising the brand’s full potential.
“We intend to take the five:am brand back to its roots, partnering with farmers in sustainable and regenerative practices, investing in product innovation and being a fun, accessible brand,” said Stanton.
In October 2020, Tanarra Capital invested in Barambah with its founders, who retain a significantshareholding. ✷
21/4/20 1:55:44 PM
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