Food Business News - March 13, 2012 - (Page 1)

FOODBUSINESS NEWS NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY March 13, 2012 ® Kraft’s Vernon fired up over grocery unit growth outlook BOCA RATON, FLA. — From the time she first announced plans to break Kraft Foods Inc. into two separate businesses, Irene Rosenfeld, the company’s chief executive officer, has consistently worked to moderate expectations of growth prospects of the North American grocery business. In contrast with the global snacks business, with its “strong growth profile in the top-tier of its global peer group,” Ms. Rosenfeld painted a stodgier picture of the grocery business future, which she said would feature a predictable and generous dividend payout and “reliable revenue growth, in line with its categories.” In a presentation last month, though, the man who will run the North American Continued on Page 16 Declining unit volumes a mystery St y Story Page 7 Story on Page 27 g Tyson Foods on the prowl for prepared foods opportunities MIAMI — Tyson Foods, Inc. is looking to take advantage of acquisition opportunities or capacity utilization in the prepared foods category. Speaking at the Bank of America Merrill Lynch Global Agriculture Conference on March 1 in Miami, Jim Lochner, chief operating officer for Tyson Foods, said the company is not focused on growing its core commodity production, but looking at prepared foods opportunities. “We have the raw materials,” Mr. Lochner said. “We have a tremendous amount of R.&D. resources, innovations Continued on Page 20 Global crops, ethanol and weather drive ag outlook J oseph W. Glauber, the U.S. Department of Agriculture’s chief economist, described what he called three “key drivers” in the current U.S. agricultural supply-and-demand outlook in his presentation before the Agricultural Outlook Forum in Washington on Feb. 23. These were record-large world grain crops in 2011-12, a slowing in U.S. corn-based ethanol production and weather. “Record prices in late 2010 and through the first half of 2011 resulted in increased plantings and record production for grains and cotton,” Mr. Glauber said. “Soybean production, while off the 2010-11 record, was still the third highest on record.” According to the U.S.D.A.’s February revisions to its world supply and demand estimates for 2011-12, global wheat production was a record 692.88 million tonnes, world corn production was a record 864.11 million tonnes and world rice production was a record 462.75 million tonnes (on a milled basis). World soybean production was 251.47 million tonnes compared with a record 264.18 million tonnes in 2010-11. Mr. Glauber said global demand largely Continued on Page 24

Table of Contents for the Digital Edition of Food Business News - March 13, 2012

Food Business News - March 13, 2012
Kraft’s Vernon fired up over grocery unit growth outlook
Tyson Foods on the prowl for prepared foods opportunities
Global crops, ethanol and weather drive ag outlook
Table of Contents
Web Contents
Editorial - Food industry’s stake in expanded crop research
Arlon affiliate acquiring Imperial stake in Wholesome Sweeteners
Sara Lee taps executive for coffee and tea business
Higher banana prices boost Fresh Del Monte earnings
Health and wellness to boost gum sales
Dole acquires Mrs. May’s Naturals
PepsiCo, Theo Müller j.v. to build yogurt plant
January Restaurant Performance Index remains solid
Ferrero to build new facility in Mexico
Procter & Gamble sells NutriStar drink mix business
Heinz increasing investment in T.G.I. Friday’s snacks
C.D.C. says children consuming more sugar than guidelines recommend
ConAgra completes acquisition of Del Monte Canada
Expansion efforts pressure Inventure Foods income
Higher costs pressure Smithfield Foods income
F.A.O. Food Price Index rises in February
Tyson to renovate beef plant, may close another
Mintel: Authentic ethnic cuisine important to consumers
Market Insight - Global soybean supply tightening
Declining unit volumes a mystery
Ingredient Innovations - Soy innovations in bread, beverages
Health and Wellness - Boosting brain power
New Food Products
Ingredient Market Trends
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - March 13, 2012