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Packaging company Huhtamaki has launched a 100 per cent renewable paper cup for hot and cold beverages, ice cream, and take-away food.

Called Future Smart, the cup has a renewable bio-based coating and is made entirely from plant-based materials.

It uses paperboard from PEFC-certified sustainably managed forests and a newly developed plant-based polyethylene as a moisture barrier coating.

The company says it chose to move forward by substituting fossil oil-based plastics with fully renewable materials.

Food & Drink Business

The New South Wales government has established its $25 million Agriculture Industries Innovation and Growth Program to increase uptake of innovative technology and equipment in the local agriculture sector. Applications close 23 January.

The Western Australian government has announced recipients for round seven of its Agrifood and Beverage Voucher Program, offering a share of $680,000 in funding to small-to-medium food and beverage companies.

Treasury Wine Estates has flagged softer near-term earnings as category conditions weaken across key markets, while outlining a broad reset of inventory, capital structure and operating costs under newly appointed CEO, Sam Fischer.