Milling & Baking News - February 21, 2012 - 4

Contents 

February 21, 2012 Vol. 90, No. 26

 BREAD PRODUCT PERSPECTIVE

 NEWS Comment

Millers see opportunity for baking despite alarming sales trends
Story on Page 1

China’s role in grain trade to fore in U.S. visit
Hardly any international relationship has greater implications for grain-based foods than the ties with China. That role stood out plainly in the background of the visit last week to the United States by Chinese Vicepresident Xi Jinping, who is likely, but not certain, to become president of his country in elections to be held in 2013. Mr. Xi himself underscored this relationship by joining China’s agriculture minister, Han Changfu, in traveling to Iowa to participate in what was called the ﬁrst agricultural symposium with ofﬁcial sponsorship. In the wake of the symposium, Minister Han and U.S. Secretary of Agriculture Tom Vilsack signed a ﬁve-year pact setting out systems to address issues of food safety, security, sustainability and trade. Stressed was the way in which the accord will give structure to resolving differences across these important areas where problems have arisen in the past. Its signiﬁcance was heightened by the role food already plays in ties between the two countries. Vice-president Xi Jinping called attention to his own special interests that may help expand these food relationships. He noted that he came to Iowa 27 years earlier as a young person to learn about improving corn production and that he himself spent seven years working on a farm in western China. He ranked food security with energy security and ﬁnancial security as the three main goals of security in the modern world. While China’s food grain-related imports have mainly been soybeans, its takings of corn and even wheat carry great weight. MBN

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Administration’s ag budget afﬁrms plan to end direct payments
Story on Page 42

Teamsters favor strike if Hostess cuts beneﬁts

The International Brotherhood of Teamsters Union votes to strike if Hostess is allowed to cut the union’s health care and pension benefits.

Kellogg to acquire Pringles snack business for $2.7 billion

The Kellogg Co. agrees to buy the Pringles snack business for $2.7 billion from Procter & Gamble after an earlier P&G deal with Diamond Foods, Inc. falls through.

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Flowers Foods proﬁt down 10% in 2011

    DEPARTMENTS
9 12 16 18 26 40 44 46 48 49 57 62 Editorial Business Industry Activities Financial Results Data Washington Regulatory Affairs People Nutrition and Health Ingredient Week Trends Supplier Innovations Archive

Fiscal-year net income for Flowers Foods, Inc. falls to $123,428,000 in 2011 from $137,047,000 in 2010. Sales rise 8% partly due to the Tasty Baking acquisition.

Snyder’s-Lance earnings rise in transition year

Fiscal-year net income at Snyder’s-Lance, Inc. jumps to $38,258,000 from $2,512,000 even while the company executes its merger integration.

Bunge net income falls in 2011 after 2010 gain

Bunge Ltd. experiences a 60% drop in net income for the 2011 fiscal year. The 2010 fiscal year included a gain from the sale of a fertilizer nutrients business.

    COMPANIES IN THIS ISSUE
Amrit Banaspati Co. Ltd. ........... 14 Archer Daniels Midland Co... 1, 14, Barry Callebaut ......................... 57 Bay State Milling Co............ 47, 57 Bob’s Red Mill Natural Foods .... 47 Bunge Ltd............................ 14, 23 Campbell Soup Co. .................... 10 Caravan Ingredients .................. 46 Cargill ....................................... 29 CHS ..................................... 12, 46 ConAgra Mills ............................. 1 Diamond Foods, Inc. .................. 14 Dunkin’ Brands Group, Inc. ....... 47 Flowers Foods, Inc. .................... 18

Glencore International P.L.C. ..... 12 Grupo Bimbo S.A.B. de C.V. ....... 14 Horizon Milling L.L.C. .................. 1 Hostess Brands, Inc. .................. 12 J.M. Smucker Co. ....................... 10 Kellogg Co. ................................ 14 NutraCea................................... 57

Panera Bread Co.................. 24, 47 PepsiCo, Inc. .............................. 20 Procter & Gamble...................... 14 Snyder’s-Lance, Inc. ................... 20 Solbar........................................ 12 Xstrata P.L.C. ............................. 12

4 / February 21, 2012 Milling & Baking News

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Milling & Baking News - February 21, 2012

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