All-time highs this morning for PEP and KO.
bloomberg.com
Coca-Cola Co. (KO) and PepsiCo Inc. (PEP) agreed to lower the amount of sugar in their beverages in France by 2015 and limit advertising aimed at young children.
Local units of Coca-Cola, Pepsi, Orangina Schweppes and juice bottler Refresco Gerber BV signed an agreement to cut sugar in non-alcoholic beverages by an average of 5 percent in the 2010-2015 period, France’s Agriculture Ministry said today in a statement.
France has a running campaign to encourage healthier eating and in 2011 introduced rules to improve nutritional quality of meals in school canteens. Adult obesity in the country more than doubled between 1990 and 2010, according to data from the Organization for Economic Cooperation and Development.
“The industry’s commitment reflects its willingness to improve the range of food offered to French consumers, in the knowledge that soft drinks contribute about 6 percent to 8 percent of sugar intake,” the ministry said.
Obesity in France increased to 12.9 percent of the adult population in 2010 from 5.8 percent in 1990, data from the OECD show. That was still below most other European Union countries, including Germany with 14.7 percent and the U.K. with 26.1 percent.
The five companies that signed the agreement account for more than 80 percent of the French soft-drinks market, both in value and volume, the ministry said.
Kid Ads
The companies also agreed to stop advertising on television or Internet where 35 percent or more of the audience consists of children under 12.
French per capita soft-drink consumption of 65 liters per year compares to an EU average of 95 liters and is less than half the 144 liters consumed on average every year in Germany, according to the text of the collective industry agreement.
Colas account for 55 percent of the French soft-drinks market, fruit juices make up 28 percent, while lemonades and tea-based beverages each account for 7.5 percent.
A 2010 study found that soft drinks in France on average account for 2 percent of daily calorie intake for children age three to 13 and 4 percent for those between 15 and 20, according to the agreement.
To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net |
