Industry News

Sara Lee expects to face $550 million in higher commodity costs this fiscal year, and is trying to pass on many of the costs to consumers but finding it difficult to raise coffee prices fast enough. Sara Lee is seeking to offset some of the higher coffee costs by tweaking the ratios in its blended coffee products and relying more heavily on less expensive Robusta beans. Meanwhile, ConAgra Foods Inc. will offer two of its frozen meals for $5, instead of its earlier two for $4, reported The Wall Street Journal. Full Story (WSJ Subscription Required)

The Daily Update is a substantially abbreviated version of Today In Food. You can get a subscription to Today In Food, which usually has over 30 news items each day, as well as access to the archives for just $49.95 per year. Click here to sign up.

Wal-Mart Stores Inc. plans to spend $200 million inside the Dallas city limits over the next few years on a dozen new and replacement stores. Two Neighborhood Market stores are planned, reported The Dallas Morning News. Full Story (Free Registration Required) Meanwhile, Walmart is looking to develop four or five Neighborhood Market stores in the Reno, NV-area, according to a broker at Colliers International, reported Northern Nevada Business Weekly. Full Story

New! The Feb. 23 edition of New Products Hits and Misses with Phil Lempert features: Bella Lula Orangeade, Belle Chevre Breakfast Cheese Coffee Flavor, Nature's Path Organic Ancient Grains Granola with Almonds, Laurie's Buffalo Gourmet Black Bean and Garlic Tortilla Chips and Champion Raisels Sour Lemon Blast. Click here to view.

Wegmans Food Markets will not raise prices this year on about 40 staple products, including fruit, vegetables, fish, ground beef and coffee. The chosen items in most cases carry the Wegmans brand, reported Rochester Democrat and Chronicle. Full Story

Kraft Foods Inc. plans to overcome rising ingredient costs and a stagnant packaged-food market by spending more on its most profitable brands. Kraft will raise marketing spending by 10% on the 20 brands that make up two-thirds of its revenue and hurry new product development. Kraft also expects commodity costs to rise $700 million to $800 million this year, particularly for cheese, dairy, meat and coffee, reported Crain's Chicago Business. Full Story (Free Registration Required)

Owners of the 74-unit Tijuana Flats Burrito Co. launched a new concept, Tibby's New Orleans Kitchen, in Winter Park, FL. The 3,935-sq. ft. full-service restaurant offers fresh, authentic New Orleans-style food and Louisiana beers, reported Orlando Business Journal. Full Story (Free Registration Required)

Latest sales & earnings for food related companies (Updated Daily - FI Membership Required)

Food Institute News

In 2009, 25 cents out of every dollar spent by consumers was spent in a food store or an eating and drinking place, according to Food Industry Review, 2010 Edition. As a result of the economy and changes in consumer behavior, food retailers and manufacturers operate in a highly competitive environment. This 600+ page annual Food Institute report on the progress and performance of the food industry is meant to assist readers in tracking changes and assessing results of recent developments. Featuring comprehensive write-ups and detailed sales charts, this year's edition includes new chapters on: Social Media- a new wave of marketing where dissemination of information is nearly limitless; Sustainability- a growing food industry movement receiving attention in every sector; and New Concepts. Other topics explored in-depth include retailing formats, private label, food business mergers and acquisitions, vending, restaurants and foodservice, new products launches, consumer trends, demographics of consumer food spending, organic, specialty and natural food and food processing. Click Here for more information.

Carlos Steffens, Inc. Headquartered in Livermore,CA, Carlos Steffens, Inc. is one of the largest industrial ingredient brokers in the U.S., specializing in concentrated fruit juice products. With suppliers located throughout the world and mainly in South America, China and Europe, Carlos Steffens, Inc. provides the total supply chain and service to corporations in the U.S. and Canada. To learn more about this 8-year Food Institute member visit:www.steffenscorp.com. Interested in seeing your company featured here? Email us for more details.

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International News

PepsiCo, Inc. and the Inter-American Development Bank entered into a five-year partnership to spur social and economic growth in 26 countries across Latin America and the Caribbean. The partnership's inaugural project was launched in Mexico with an agriculture initiative that seeks to significantly expand commercial sunflower production. Full Story

Health News

Moderate drinkers saw a 14% to 25% reduction in heart disease compared with people who never consumed alcohol, according to a study published in British Medical Journal, reported BBC News. Full Story

Washington News

A Republican proposal before a Colorado House committee would repeal the state's 2.9% sales tax on soft drinks, which was enacted in March 2010, reported The Associated Press. Full Story

Recording Now Available for Purchase! The Food Institute presented Understanding the New Food Safety Legislation, a webinar designed for those who want and need to understand the impact of the new food safety legislation. John W. Bode, Principal at Olsson Frank Weeda Terman Bode Matz PC, and Dr. David William Kennedy Acheson, Managing Director, Food and Import Safety Practice, at Leavitt Partners were the speakers. To purchase the recording and learn more, click here.

Market News

Total frozen fruit stocks were down 9% from last month and down 14% from a year ago. Total frozen vegetable stocks were down 11% from last month and down 9% from a year ago. Total red meat supplies in freezers were up 8% from both the previous month and last year. Frozen pork supplies were up 14% from the previous month and up 10% from last year. USDA Cold Storage Report

Accumulated biotech crops exceeded one billion hectares in 2010, 15 years after commercialization, according to the annual report released by International Service for the Acquisition of Agri-biotech Applications. The U.S. led the list with 66.8 million hectares, followed by Brazil, Argentina, India and Canada. There is considerable potential for increasing the biotech adoption of the four current large hectarage biotech crops - maize, soybean, cotton and canola - which represented almost 150 million hectares in 2010 from a global potential of double that hectarage at over 300 million hectares. Full Story