Milling & Baking News - October 26, 2004 - (Page 1)

Theinewsweeklyiofigrain-basedifoods LATE NEWS HERSHEY, PA. - Announcing record sales and earnings during the third quarter ended Oct. 3, Hershey Foods Corp. on Oct. 21 revealed plans to enter the U.S. cookie market. In December, the company will begin shipping a four-variety line of single-serve "premium indulgent" cookies. The line is based on four of Hershey's best known confectionery brands - Reese's, Hershey, Almond Joy and York Peppermint. Richard H. Lenny, Hershey's president and chief executive officer, noted that the premium cookie segment is profitable and growing. He said Continued on Page 8 Hershey to enter cookie market With a new name, foundation launches national media blitz NEW YORK - The Grain Foods Foundation, newly renamed from the Foundation for the Advancement of Grain Based Foods, on Oct. 21 launched a national media tour highlighting a clinical review exploring the prevailing scientific view of carbohydrates. In interviews with news organizations such as CNN, members of the foundation's medical advisory board said the review showed that grain-based foods, including bread and rolls, "provide myriad benefits in achieving and maintaining optimal health and wellness." The panel was led by Glenn Gaesser of Continued on Page 10 / OCTOBER 26, 2004 Examination of grain foods intake shift brings whole grains to fore MINNEAPOLIS - Viewed from many angles, grain-based foods consumption changes have been in the recent past and will continue to be driven by health and wellness issues. That was the conclusion of a wide range of speakers at "Understanding Demand Shifts for Grain-Based Foods," a Sept. 28 workshop hosted by the Economic Research Service of the U.S. Department of Agriculture. While nutrition long has been viewed as a leading influence in changing food consumption trends affecting grain-based foods, other factors in the past have been viewed as factors equal to or even more important. Among these influences are convenience, new product innovation, demographics, and changing channels of distribution (and the growing percentage of meals eaten away from home). While presenters touched on several of these other factors, health and wellness leapt out as the primary force addressed in most of the presentations. Even more specifically, whole grains foods consumption was a central subject in many presentations, even as the speakers acknowledged that 85% to 90% of grain-based foods consumed in the United States contain no whole grains and that the Continued on Page 12 New products boost cookie, frozen pizza sales for Kraft NORTHFIELD, ILL. - An influx of new cookie and frozen pizza products helped boost overall sales at Kraft Foods Inc. but failed to spur a year-over-year gain in net income for the third quarter, the company said last week in detailing its results for the period ended Sept. 30. Net income in the quarter totaled $779 million, equal to 46c per share on the com- mon stock, down 4% from $810 million, or 47c per share, in the third quarter of fiscal 2003. Kraft pointed to higher commodity costs and restructuring expenses as factors adversely affecting earnings in the quarter. Net sales, buoyed by strong sales of new pizza products, climbed to $7,831 Continued on Page 23 Nimble giant ADM Milling, Beech Grove, Ind. Story on Page 25 inside THIS WEEK Objections from I.B.C. shareholder group 9 Ingredient Speirs, Byom to MGP Ingredients board 18 Small gain in grain-based food prices 44 Week 47

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Milling & Baking News - October 26, 2004