Milling & Baking News - December 2, 2008 - (Page 1)

THE NEWS WEEKLY OF GRAIN-BASED FOODS DECEMBER 2, 2008 / FEATURE APEC supports U.S. initiative to strengthen food safety Tumultous times Cookies, crackers and pasta demand attention for different reasons Story on Page 23 LATE NEWS Obama eyes errant farm subsidy payments WASHINGTON - President-elect Barack Obama, who hardly made farm policy reform a centerpiece of his campaign, on Nov. 25 pointed to federal farm program payments made to ineligible individuals as an example of wasteful government spending that will be targeted for elimination under his administration. Mr. Obama made reference to the farm program payments as he introduced his budget team. "There's a report out today that from 2003 to 2006, millionaire farmers received $49 million in crop subsidies even though they were earning more than the $2.5-million cutoff for such subsidies," Mr. Obama said. "If this is Continued on Page 10 LIMA, PERU - A plan to strengthen The leaders also shared common food safety and product safety standards concern about food security issues in was endorsed Nov. 23 at the Asia-Pacific the Asia-Pacific region with particular Economic Cooperation CEO Summit in note about the "impact that volatile Lima. Support for the plan was included global food prices, combined with food in a collective stateshortages in some ment issued at the developing econoconclusion of the mies, are having on two-day gathering our achievements of regional leaders. in reducing povAPEC described erty and lifting real its actions as reafincomes over the firmation of a comlast decade." mitment to improve The group met food and product against a backdrop safety standards and of severe global ecopractices as a way to nomic uncertainty. facilitate trade while President George Bush addressed the "The current global protecting the health Asia-Pacific Economic Cooperation CEO financial crisis is one and safety of mem- Summit Nov. 22. of the most serious ber populations. economic challenges "We endorsed the work of the APEC we have ever faced," the group said, exFood Safety Cooperation Forum's Part- pressing support for fiscal stimulus pronership Training Institute Network and vided by APEC member economies. called on Ministers to take additional The food safety proposal emerged steps to enhance food and product safe- from an August meeting of the APEC Continued on Page 16 ty next year," the statement said. Campbell's Baking and Snacking posts 15% gain in earnings CAMDEN, N.J. - Operating earnings within the Baking and Snacking division of the Campbell Soup Co. rose 15% in the first quarter ended Nov. 2 to $83 million from $72 million, driven primarily by growth in Arnott's and Pepperidge Farm. Sales fell 4% to $509 million, compared with $532 million in the same period last year. "Pepperidge Farm achieved sales growth with gains in the cookies and crackers and bakery businesses," the company said. "In the cookies and crackers business, sales were driven by gains in Goldfish snack crackers and the introduction of Baked Naturals, an adult savory snack cracker, which were partially offset by a decline in cookies. The bakery business also delivered solid sales growth behind whole grain breads and stuffing." Notwithstanding the strong results, Pepperidge Farm could be disadvantaged Continued on Page 13

Table of Contents for the Digital Edition of Milling & Baking News - December 2, 2008


Milling & Baking News - December 2, 2008