Milling & Baking News - April 19, 2005 - (Page 1)

Special section beginning on Page 19 Theinewsweeklyiofigrain-basedifoods APRIL 19, 2005 / Senators from both sides of aisle tough on CAFTA in questioning WASHINGTON - Considerable opposition to the Central American Free Trade Agreement was expressed April 13 in Senate Finance Committee hearings on the issue. Concern about how sugar growers would be affected by the pact played a central part in the positions of several senators, both Republican and Democrat. Senator Craig Thomas of Wyoming expressed concern that increased sugar imports under CAFTA (also known as CAFTA-DR because of the Dominican Republic's inclusion) would set a precedent for future trade deals with Argentina and Brazil, while Senator Kent Conrad of North Dakota warned that the pact would destroy the U.S. sugar industry. "As I see it, you've just negotiated away another industry," Mr. Conrad said. The Red River valley in the Upper Midwest is a major center of the U.S. sugar sector, and Mr. Conrad said CAFTA would set the stage for the industry's dismantling. At issue are 107,000 tonnes of sugar that CAFTA would allow into the United States annually from five Central American nations and the Dominican Republic. While Mr. Conrad acknowledged Continued on Page 58 Food and Drug Administration, A.A.C.C. seek carb claims input WASHINGTON - Efforts to establish definitions for carbohydrate claims have moved ahead on two fronts in recent days. First, the U.S. Food and Drug Administration on April 8 began seeking public comment on a possible on-line study about carbohydrate label claims. Second, the A.A.C.C. International has formed a Glycemic (Net) Definition Task Force that is soliciting public input on proposed definitions for available (net) carbohydrates, glycemic LATE carbohydrates and glycemic response. Study would involve four groups The F.D.A. expects about 10,000 study participants would come from an existing consumer panel developed and maintained by the research firm Synovate. Those participants would be divided into four groups: diabetics, people on low-carbohydrate diets who are not diabetic, people on high-carbohydrate diets, and people who do not fall Continued on Page 35 NEWS Frito-Lay, Quaker strong in quarter PURCHASE, N.Y. - The grain-based foods division of PepsiCo Inc. posted strong profit and sales growth in the first quarter ended March 19. Operating profit of Frito-Lay North America was $539 million, up 6% from $510 million in the first quarter last year. Operating margins were hampered by increased fuel and energy costs in the quarter. Sales were Continued on Page 10 inside Sizing up soy selections Story on Page 39 Flowers Foods in 'opportunistic' share block repurchase THOMASVILLE, GA. - Flowers Foods Inc. on April 12 announced it has purchased a block of approximately 2.1 million shares of its common stock from an institutional shareholder at a price of $28.95 per share. Flowers said the $59.5 million purchase was completed "in accordance with the share repurchase plan approved by the board of directors in 2002." The plan authorizes the company to repurchase up to 7.5 million shares of common stock. Flowers said it drew upon a $150 million credit facility to fund the cash purchase. The 2.1 million shares equate to about 5% of the company's 45 million shares outstanding. Speaking with Milling & Baking News, Jimmy Woodward, Flowers' senior vicepresident and chief financial officer, described the transaction as "purely opportunistic." Flowers was contacted by Continued on Page 14 THIS WEEK Court rules against Smucker in patent case 12 Another delay in Crawford confirmation 34 Ingredient Buck to head Hershey biscuits 51 Week sponsored by 62

Table of Contents for the Digital Edition of Milling & Baking News - April 19, 2005


Milling & Baking News - April 19, 2005