02:34:07 EDT Sat 18 May 2024
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or Name
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McDonald's CDR (CAD Hedged)
Symbol MCDS
Shares Issued 1,050,000
Close 2024-02-27 C$ 26.05
Market Cap C$ 27,352,500
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Globe/wire say India cracking down on McDonald's cheese

2024-02-28 08:56 ET - In the News

The Globe and Mail reports in its Wednesday edition that India's Maharashtra state will inspect outlets of global fast-food brands to check if they use cheese alternatives in products wrongly promoted as containing real cheese, widening scrutiny beyond a crackdown on McDonald's. A Reuters dispatch to The Globe reports that the recent inflationary pressure in India has led to a decline in consumption of expensive burgers and pizzas. As a result, firms have introduced discounted offerings which may cause trouble for global brands. McDonald's biggest India franchisee, Westlife Foodworld, has been defending its use of "real cheese" after media reported that state authorities last year found some products made use of socalled cheese analogs of vegetable oil, rather than real cheese. The McDonald's franchisee disagreed with the findings, but in December it dropped the word "cheese" from the names of many burgers and nuggets it sells statewide, letters seen by Reuters show. Inspectors of the state's Food and Drug Administration will now visit all McDonald's outlets, as well as those of other major brands, to check for similar violations of display and labelling rules, its chief, Abhimanyu Kale, told Reuters.

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