Industry News

USDA updated its consumer price index (CPI) for 2011, revising its food price forecast to rise 3% to 4% this year. Both food-at-home and food-away-from-home prices are also forecast to increase 3% to 4%. Beef prices are projected to increase 3.5% to 4.5% and pork prices 5.5% to 6.5% in 2011. Full Story

Procter & Gamble (P&G) committed to pursue LEED certification for all new sites. P&G's Taicang plant in China is the first P&G manufacturing site to pursue LEED certification, with several additional new P&G sites currently working toward the same distinction globally. Full Story Meanwhile, P&G will raise prices to cope with a run-up in commodity costs. Procter & Gamble already raised some prices, and is facing at least $1 billion in increased commodity costs this year, reported The Associated Press. Full Story

Saratoga Specialties Co. finalized an agreement with Williams-Sonoma to sell its Moon Brand Original Potato Chips in the company's 270 outlets in the U.S. and Canada, and another to supply the chips to Cracker Barrel's 610 gift outlets. The Williams-Sonoma deal alone will double Saratoga Specialties' market, reported The Business Review (Albany). Full Story (Free Registration Required)

Restaurant Roundup: Tim Hortons Inc. plans to open 70 to 90 locations in the U.S. in its fiscal 2011, split nearly evenly between standard and non-standard full-serve locations. Full Story ... Jack in the Box Inc. plans to open 30 to 35 Jack in the Box restaurants and 50 to 60 Qdoba restaurants in its fiscal 2011. Full Story ... Au Bon Pain expects to have 26 new cafes by August and at least two dozen more are planned in 2012. The company is looking to expand in Sacramento, Nashville and Cincinnati, reported The Boston Globe. Full Story (Free Registration Required) ... Dunkin' Donuts plans to develop about 25 stores in the San Antonio-area over the next five to six years, reported San Antonio Business Journal. Full Story (Free Registration Required)

Packaging Corporation of America is finishing an expansion to its main Winter Haven, FL facility. New equipment includes corrugated paper sheet producers as well as a folding and gluing machine for producing boxes and a new shipping department, reported The Lakeland Ledger. Full Story (Free Registration Required)

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

Food Institute News

NEW! The Food Institute will present The State of the Economy: A Retail Perspective, a one-hour webinar, on Tuesday, Mar. 1 from 12 noon to 1 p.m. (EST). Featuring Mike Jackson, retired president and COO, SUPERVALU, and Marc de Speville, partner, Food Retail Research Redburn Partners, the webinar will present detailed analysis and insight into what is happening, and what the future holds, for the U.S. retail market. Food Institute president Brian Todd will moderate. To learn more and register, click here.

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International News

India could become a milk importer by 2022 if local production does not keep pace with growing demand, according to the government's annual economic survey. India, the world's largest producer of milk, reported an estimated 112.5 million metric tons of milk in the last fiscal year ended Mar. 31. The economic survey for fiscal 2011 found that India's milk production is rising by about 3.5 million tons a year while demand is growing by an estimated six million tons, reported The Wall Street Journal. Full Story (WSJ Subscription Required)

H.J. Heinz Co. is in advanced stages of talks for an acquisition or merger for Brazilian food company Quero Alimentos, according to sources. The deal would potentially be worth up to $600 million, reported Reuters. Full Story

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Washington News

U.S. Marshals seized about $200,000 worth of food products from Bedford Cheese Store Inc. after FDA found evidence of rodents throughout the company's facility. Products seized at Bedford Cheese included cheese, frozen foods, pastas, salad dressings, prepared salads, soups and various bulk ingredients. Full Story

Market News

Sanderson Farms Inc. expects to spend $330.7 million more for poultry feed in 2011 than it did in 2010, adding 10.5 cents per-lb. to its production costs. Rising feed costs and uncertainty about the direction of the grain markets this year caused the company to delay a planned expansion at a new plant in North Carolina, reported The Wall Street Journal. Full Story (WSJ Subscription Required)

U.S. agricultural exports are expected to reach a record $135.5 billion in fiscal year 2011, according to USDA. Compared to fiscal year 2010, export value is expected to grow 25% and volume by 10%. Full Story