Milling & Baking News - December 14, 2010 - (Page 1)

THE NEWS WEEKLY OF GRAIN-BASED FOODS DECEMBER 14, 2010 / REGULATORY AFFAIRS Signature Interview Monsanto sees twin attractions in returning to wheat breeding W E.P.A. offers insights on issues surrounding bakers and snack food makers Story on Page 30 LATE NEWS General Mills ahead on sugar reduction MINNEAPOLIS - General Mills, Inc. said it is meeting its goal of reducing sugar in cereal advertised to children, and in 2010 it has cut sugar by an additional 8%, on average, in those cereals. The company said it now has achieved sugar reductions of 14% since 2007, with some cereals reduced as much as 28%. The announcement comes a year after General Mills committed to reduce sugar in all Big G cereals advertised to children under 12 to "single-digit levels of grams of sugar per serving." And while the company did not provide a timeline for achieving the reductions, last week General Mills said all Big G Continued on Page 8 hile the return of the Monsanto Co. into the breeding of wheat has raised expectations in wheat industry circles that bioengineered wheat will become a reality in the years ahead, technological breakthroughs in non-biotechnology breeding were a major impetus to the company's decision to return to the wheat business. The emerging importance of wheat at Monsanto was the subject of a recent interview of the top company executives responsible for wheat, Sean Gardner, global wheat lead, and Claire A. CaJacob, global wheat technology lead. Visiting with Mill- ing & Baking News at the company's St. Louis headquarters, the two discussed the attraction to Monsanto of the wheat marketplace and what may be expected in the years to come. Across grain-based foods, interest in Monsanto's wheat plans have been growing in the wake of the company's July 2009 acquisition of WestBred L.L.C., a company specializing in wheat germplasm. While the size of the transaction, at $45 million, was modest for a company with a stock market capitalization topping $30 billion, it was thought the acquisition may be a first step toward establishing a major wheat presence. A Continued on Page 23 U.S. and South Korea negotiators finalize free trade agreement WASHINGTON - President Barack Obama announced the successful completion of negotiations to finalize a free trade agreement between the United States and the Republic of Korea, a major and steady importer of U.S. wheat. The Korea-United States Free Trade Agreement (KORUS) initially was signed by the United States and Korea in June 2007 but languished for lack of congressional approval and resolution of certain issues of concern to the Obama administration, including restrictions on U.S. automotive and beef exports. "This deal is a win for American workers," President Obama said in announcing the long-awaited accord. "The tariff reductions in the agreement alone are expected to boost annual exports of American goods by up to $11 billion. And all told, this agreement, including the opening of the Korean services market, will support at least 70,000 American jobs. It will contribute significantly to my goal of doubling U.S. exports over the next five years. In fact, it's estimated that today's deal alone will increase American economic output by more than our last nine free trade agreements combined." President Obama said he looked forward to working with Congress and leaders of both parties to approve this Continued on Page 16

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Milling & Baking News - December 14, 2010