A group of consumer goods makers and retailers including Kellogg Co, Wal-Mart Stores Inc, Nestle SA and Unilever Plc plans to simplify and standardize food date labels to reduce food wastage.
The standardized labeling to be put in place would use one expiration date on perishable items and one food quality indicator for non-perishable items.
The exact wording of the labels would be region specific. Confusion over date labels on food products costs families up to $29 billion annually in the United States alone, which represents some 400 of the world's largest retailers and manufacturers from 70 countries.
Simplified and consistent date labeling will help companies halve food waste by 2025.
Several food and drink makers including Mondelez International and Unilever are also setting their own standards for ethical sourcing of raw materials, moving away from third-party labels such as Fairtrade.