Food Business News - December 17, 2013 - (Page 48)

INGREDIENTMARKETTRENDS In The Spotlight At A Glance Nature's bounty, nature's wrath he vagaries of nature loomed large in the market for edible oils in recent weeks producing two compelling stories, one a boom in production, canola in Canada, and the other a disaster, coconut in the Philippines. A record canola crop in Canada, combined with a record wheat crop, strained that nation's rail transport infrastructure. Refiners struggled to secure an uninterrupted supply of seed to crush, and the logistical problems slowed the T decline in the canola oil cash market, at least for nearby positions. But the weight of the crop was expected to become increasingly telling, and crude canola oil already was being offered at a discount to soybean oil for the first quarter of 2014, when hopes were rail logistics on both sides of the United States-Canada border will begin to improve. Weather across the Canadian Prairies was Canadian canola production in million tonnes nearly ideal for canola this year. Statistics Canada in its November production report indicated, "Nationally, canola production increased 29.5% from 2012 to a record 18 million tonnes. This was the result of a record average yield of 40 bus per acre, up 42.3% from 2012, which more than offset a 9% decline in harvested area." Nature was not so kind to the Philippines, where Typhoon Haiyan on Nov. 8 raged across that nation of islands killing more than 5,500 persons, damaging or destroying the homes of 4 million people, and uprooting the livelihoods of thousands of Filipino small farmers. The typhoon was not expected to affect the nation's food security as a whole as the affected regions were not key food crop and livestock producing areas. Additionally, food assistance was provided from abroad. At the same time, the typhoon did strike key areas for coconut. The Philippine department of agriculture estimated agricultural production losses at about $195 million while damage to agricultural infrastructure was estimated at $45 million. The department estimated the loss of coconut production at $34.3 million, or 18% of all agricultural production losses resulting from the typhoon. Coconut oil prices in the United States spiked 19c a lb, to 68c, in the wake of the storm. In recent weeks, prices edged lower to around 60c. The Philippines is the world's secondlargest grower of coconuts after Indonesia. FBN Orange juice futures price per lb 160 145 130 115 100 Jan. Mar. 2013 May July Sept. Nov. Ingredient Indexes V ill I C Vanilla Ice Cream Commodity Trends Milk Chocolate Bar I.C.E. U.S. dollar index 90 80 70 60 2009 2010 2011 2012 2013 Source: I.C.E. December 17, USINESS NEWS 48 FFOODBBUSINESSNEWS 48 OOD 2013 ®® December 17, 2013 December FOODBUSINESS NEWS 17, 2013 48 ®

Table of Contents for the Digital Edition of Food Business News - December 17, 2013

Food Business News - December 17, 2013
Post acquisition binge continues
WhiteWave Foods to acquire Earthbound Farm
New U.S.D.A. action plan targets Salmonella
Table of Contents
Web Contents
Editorial - Potential exists for a great 2014
Sysco to acquire US Foods in $8.2 billion deal
Pepsi ousts Coca-Cola at Buffalo Wild Wings
Kroger sees greater opportunity in ‘natural’ portfolio
Diamond Foods continues to struggle
C.D.C. taking food safety surveillance to food service
Use of antibiotics in meat animal production may be ending
Pizza: The next big thing in fast-casual?
On-line sales looming for food
Bob Evans Farm on the brink?
Post acquisition binge continues
Breaking in to breakfast
Global trends to watch in 2014
Yogurt makers pump up protein claims
Market Insight - Corn sweetener prices will be lower in 2014
Ingredient Innovations - Mimicking mother’s milk
Sodium reduction: A little goes a long way
Beverage Business News - Wellness beverages
New Food Products
Ingredient Market Trends - Nature’s bounty, nature’s wrath
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - December 17, 2013