ADM to sell stevia and monk fruit sweeteners in new partnership
NEW YORK, June 6 (Reuters) - Archer Daniels Midland Co will be selling stevia and monk fruit sweeteners, alternatives to sugar, in a new partnership, the company said on Monday, as the agribusiness continues its push into higher-margin products.
ADM will be the global marketer and distributor of low-calorie sweeteners made from stevia and monk fruit produced by GLG Life Tech Corp, the companies said in a joint statement.
The company has been in pursuit of higher-margin items in the grocery aisle as it shifts focus away from its core ethanol business.
"More and more consumers are looking for healthier foods that are made with natural ingredients and taste great," said Rodney Schanefelt, director, sugar and high intensity sweeteners, for ADM.
ADM and others have been seeking high intensity sweeteners amid a so-called "war on sugar" as nutritionists and government officials seek to slow the advance of obesity and diabetes.
The U.S. government said last month that companies will now have to list how much sugar has been added to their packaged foods, a move expected to raise pressure on the industry to reduce the amount of caloric sweeteners in their recipes. (Reporting by Chris Prentice and Bengaluru Newsroom; Editing by Bernadette Baum)
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