Food Business News - June 7, 2011 - (Page 81)

INGREDIENTMARKETTRENDS In The Spotlight Lifting of Russian export ban pressures world wheat market At A Glance Peanut stocks Farmer stock equivalent, million lbs 5,000 4,000 3,000 2,000 1,000 Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. 2010 2011 R ussian Prime Minister Vladimir Putin on Saturday, May 28, announced Russia would allow its ban on grain exports to expire on July 1. The announcement was anticipated but was made earlier than expected. European wheat futures prices in the first day of trading after the Russian announcement dropped 5%. When wheat futures trading resumed in the United States after Memorial Day, wheat futures prices posted wide declines, bringing to a halt a two-week rally that pulled Minneapolis wheat futures prices well above $10 a bu. Russia imposed its ban on grain exports in August 2010 after drought, said by some analysts to be the nation’s worst in a century, ravaged its crops. The Russian export ban helped ignite a run-up in world wheat and food prices during the past several months with the result that wheat futures prices in the United States currently are trading at levels around twice as high as those that prevailed before the ban took effect. Almost immediately after Prime Minister Putin announced the ban’s lifting, Russian wheat exporters offered wheat in connection with a Lebanese tender for 25,000 tonnes of optional-origin milling wheat for delivery by July 5. Ukrainian offers were lower, though, and that nation’s exporters were thought to have captured the business. Ukraine itself maintained strict quotas on exports during the past several months, but Ukrainian President Viktor Yanukovych on May 24 indicated quotas would be lifted because of the forecast rebound in Ukrainian grain production. The U.S. Department of Agriculture in its May world wheat supply-and-demand forecasts, which assumed a lifting of the Russian grain export ban, projected Russian wheat exports in 2011-12 at 10 million tonnes, up from 4 million tonnes during 2010-11 but well below the record outgo of 18.6 million tonnes in 2009-10. Before the grain export ban, Russia was Egypt’s largest supplier of wheat, and Egypt was Russia’s largest customer. Egypt’s General Authority for Supply Commodities (GASC), the nation’s principal grain importer, said it welcomed Russia’s return to the wheat market but added it would deal cautiously with Russia until it proved it was a reliable supplier. Last year, Egypt was forced to replace more than 500,000 tonnes it bought from Russian exporters who were not able to ship the supply when the ban took effect. FBN Source: U.S. Department of Agriculture Per capita egg consumption number of eggs 260 255 250 245 240 2004 2005 2006 2007 2008 2009 2010 2011 2012* *forecast Source: U.S. Department of Agriculture Ingredient Indexes Vanilla Ice Cream Commodity Trends Kansas City bakers standard patent flour price (per cwt) $25 $20 $15 $10 June 2010 M Chocolate Bar Milk July Aug. Sept. Oct. Nov. Dec. Jan. 2011 Feb. March April May June June 7, 2011 BUSINESS NEWS 81 FOOD ® 81 FOODBUSINESS NMarch 1, 2011 EWS ®

Table of Contents for the Digital Edition of Food Business News - June 7, 2011

Food Business News - June 7, 2011
House bill cuts food safety funding
Enhancing water’s value
Wet weather muddies corn outlook
Web Contents
Editorial - Quest for ‘whole truth’ on food prices in France
MyPlate steps up in simple fashion
Breaking down MyPlate by food groups
Lawmakers look to halt sale of Lazy Cakes
McCormick to enter joint venture in India
Cal Pacifi c acquires SunOpta frozen fruit assets
Cargill Kitchen Solutions expanding in Iowa
F.M.I. hires new v.p. of food safety programs
Sealed Air to acquire Diversey for $4.3 billion
AdvancePierre Foods buys Barber Foods
Cargill acquires German chocolate business
Calavo to buy Renaissance Food Group
U.S. Foodservice acquires Great Western Meats
Clear sailing for Hain
Seneca Foods earnings down sharply in 2011
April red meat production down 4% from year ago
Sbarro now exploring alternatives to bankruptcy plan
Sherman Miller promoted to c.o.o. at Cal-Maine Foods
Nestle Health Science to acquire pharmaceutical maker
Emerging markets propel Heinz’s fi scal 2011 earnings
U.S.D.A. lowers cooking temp for some meat cuts
Campbell Soup focusing on volume sales, brand building
Buyout fi rm to acquire California Pizza Kitchen
Sanderson Farms suffers second-quarter loss
Wet weather muddies corn outlook
House bill cuts food safety funding
House panel seeks reduction in W.I.C. funding in fiscal 2012
Seeking middle market opportunities
Clear and concise
Ingredient solutions help keep it simple
Identifying natural partners for stevia
$tevia $upplier$ $eek profi t$ through international growth
Brain health for baby boomers
Bottled water volume, market share grew in 2010
Study recommends children should avoid energy, sports drinks
V8 introduces energy beverages
Smucker, Starbucks raising coffee prices
Nestle launches Aguas Frescas bottled beverage
Jamba introduces coconut water-based beverages
Enhancing water’s value
Gluten-free grains momentum
Balance Bar adds Café line
Pasta Prima launches two ravioli lines
Land O’Frost debuts Wrap Kit
Franz introduces artisan bread
Kraft launches Newtons Fruit Thins
Farley’s & Sathers adds ‘Splashers’
Häagen-Dazs introduces 2011 flavors
Mars updates Kudos granola bar line
Lifting of Russian export ban pressures world wheat market
Ingredient Markets
Packaging formats focus on convenience
Technology enables ultrasonic sealing
Ingredient’s small size aids in salt reduction
AKFP now offers arrowroot starch, pea starch
Tate & Lyle to resume U.S. sucralose production
Non-dairy ingredients achieve pareve certifi cation
Ad Index
Food Business in the News

Food Business News - June 7, 2011