World Grain - July 2011 - 16

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Bunge appoints Hardie managing director of Food & Ingredients
WHITE PLAINS, NEW YORK, U.S. — Bunge Limited on June 28 announced that Gordon Hardie will join the company as managing director, Food & Ingredients, effective July 1, 2011. In this role, Hardie will provide strategic leadership to Bunge’s global Food & Ingredients segment and will oversee the development of the company’s edible oil and milling businesses, which produce a range of commercial and retail products, including bulk and bottled oils, bakery mixes, margarines and mayonnaise. He will report to Alberto Weisser, chairman and chief executive ofﬁcer, Bunge Limited. “Gordon brings to Bunge a long and proven track record of building successful food and beverage businesses internationally,” said Weisser. “His knowledge of the food industry and breadth of experience leading operations and managing brands in a variety of product categories, marketing channels and geographies will be a strong complement to Bunge’s senior management team.” In 2009, Hardie founded Morningside Partners, a corporate strategy and M&A advisory ﬁrm. Prior to this, he served as managing director, Fresh Baking Division of Goodman Fielder Ltd.

U.S. 2011-12 rice crop lowered
WASHINGTON, D.C., U.S. — The 2011-12 U.S. rice production forecast was lowered 11.5 million cwt to 199.5 million cwt due to severe ﬂooding that reduced plantings in the Mississippi Delta, especially in Arkansas and Missouri, according to the most recent Rice Outlook report from the U.S. Department of Agriculture’s Economic Research Service. At 2.85 million acres, rice plantings are almost 6% below the 3.018 million acres reported in the March Prospective Plantings and 22% below a year earlier. The 2011-12 global production forecast was reduced by 1.5 million tonnes in June to 456.4 million tonnes, still the largest crop on record and up more than 1% from 2010-11. China accounts for most of the downward revision. Production forecasts also decreased for the U.S., Cuba, and El Salvador. These reductions were partially offset by increased crop projections for Egypt and Guyana. Global disappearance in 2011-12 is projected at a record 458 million tonnes, down 800,000 tonnes from May, with China accounting for most of the downward revision. Global ending stocks for 2011-12 are projected at 94.9 million tonnes, down more than 1% from May. The trade forecast for calendar year 2012 increased fractionally in June to a record 32.2 million tonnes (milled basis), up nearly 4% from 2011. An increase in Egypt’s export forecast more than offset a reduction in the U.S. export forecast. The global trade forecast for 2011 increased slightly this month to 31.1 million tonnes, a result of a higher export forecast for Uruguay.

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World Grain - July 2011

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