Plant-based, non-dairy milk producers scored a win when the Food and Drug Administration issued guidance stating products like almond, oat, and soy options can be called milk.
The agency noted that the plant-based milks were not being misrepresented to customers as true dairy products. According to the guidance, new rules would make it necessary for plant-based milk makers to clearly label which plant the beverage was made from, like 'soy milk' or 'oat milk.'
The draft rules also say packaging must contain additional nutritional labels that inform customers when the product would contain lower nutritional value than dairy milk.
"By acknowledging both the utter lack of nutritional standards prevalent in plant-based beverages and the confusion over nutritional value that's prevailed in the marketplace because of the unlawful use of dairy terms, FDA's proposed guidance today will provide greater transparency that's sorely needed for consumers to make informed choices," it wrote.
Despite the approval of the nutritional standards, the NMPF still accused the FDA of violating its "own standards of identity" by allowing the continuation of plant-based beverages to be called milk.
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Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
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