|The Food Institute, 10 Mountainview Road, Suite S125, Upper Saddle River, NJ 07458 Phone: 201-791-5570 Fax: 201-791-5222 www.foodinstitute.com|
|April 25, 2013|
The world's largest retailers are scaling back their global expansion activities, particularly in Asia, and turning their attention inward by integrating operations and strengthening their store, internet and mobile sales channels, according to an analysis by Accenture. Moves by retailers into the six key markets in "Emerging Asia" during the Oct. 16, 2012 to Jan. 15 quarter fell to two new-market entries, down from 13 of 43 total entries in the prior quarter. At the same time, big retailers made five market entries in the U.S. in the July 15 to October 15 quarter, indicating the country remains a popular target for expansion. Full Story
Hostess Chief Executive C. Dean Metropoulos stated the company will pump $60 million in capital investments into the plants between now and September and aims to hire at least 1,500 workers. But it won't be represented by unions, including the one whose nationwide strike sparked the 86-year-old company's decision to shut down in November, reported The Wall Street Journal. Full Story (WSJ Subscription Required)
Inventure Foods signed a letter of intent to buy the berry processing business of Willamette Valley Fruit Company (WVFC). Terms of the deal were not disclosed. The agreement includes building and ground leases. WVFC began in 1999 as a small frozen processing operation and has since become one of the Pacific Northwest's largest processors of high-quality berry products. Each summer WVFC processes, on average, 13 million lbs. of fruit, including strawberries, raspberries, boysenberries, blueberries, a variety of blackberries, cranberries and Marionberries. Full Story
More than anything else, technology will pave the way for innovative change at Starbucks, according to its CEO. Already, Starbucks is producing more than 3 million mobile payments per week. For consumers, that will mean much more one-to-one marketing, stated the executive. That is, specific deals and promos could be specially targeted to individual consumers based on their buying habits, reported USA Today. Full Story
Dave's Killer Bread named a new CEO as the company's plans to expand into the national bread market moves into second gear. The company has 280 employees and recorded more than $50 million in sales in 2012. Its lines are available in 13 states, mostly in the Northwest and Southwest, and the company is aiming for 30% to 40% growth this year. Most of the baking is done at its "breadquarters" in Milwaukie, but ensuring the quality of its organic whole-grain products is a concern as the company expands, as bread can not be shipped across state lines while maintaining adequate freshness, reported OregonLive.com. Full Story
Latest sales & earnings for food related companies (Updated Daily - FI Membership 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.
Thousands of Executives read the Food Institute Report each week. Are you one of them? Chances are your competitor has been reading the Food Institute Report and accessing the members' only section of www.foodinstitute.com. Why give them the edge? Call Lina at 201-791-5570, ext. 214 for a Free Copy of the Food Institute Report.
* Members only
BASF plans to invest $500 million at its joint venture with Malaysian state-owned oil and gas firm Petronas to boost production of aroma ingredients. The new facility in Kuantan, Malaysia, will start making ingredients for citrus, rose and mint flavors for food and consumer products from 2016, reported Reuters. Full Story
Drinking just one can of sugar-laced soda drink a day increases the risk of developing diabetes by more than a fifth, according to a large European study. Using data from 350,000 people in eight European countries, researchers found that every extra 12 fluid ounce (340 ml) serving of sugar-sweetened drink raises the risk of diabetes by 22% compared with drinking just one can a month or less, reported Reuters. Full Story
FDA will conduct fewer food safety inspections this year because of the government sequester, commissioner Margaret Hamburg stated in an exclusive interview with USA Today. While consumers may not feel the impact immediately, the loss of $209 million from its budget will force the agency to conduct about 2,100 fewer inspections, an 18% decline compared to last year. Full Story
Meanwhile, FDA will extend the comment period for the FSMA proposed rules published in the Jan. 16 Federal Register to Sept. 16. FDA extended the comment period for the rules, "Current Good Manufacturing Practice and Hazard Analysis and Risk-Based Preventive Controls for Human Food" and "Standards for the Growing, Harvesting, Packing, and Holding of Produce for Human Consumption," in response to requests for an extension to allow interested persons additional time to submit comments. Federal Register Pre-publication Notice No. 1, No. 2
Sales of soybeans from Argentina are lagging due to expectations for higher world prices and domestic financial uncertainty. Farmers in the country are to saving in beans rather than pesos. Argentina's high inflation is causing "money in the bank" to be not as secure as storing soybeans next to their fields, reported Reuters. Full Story
FI's Mission: The Food Institute strives to be the best "single source" for current, timely and relevant information about the food industry from "farm to fork." The association serves as a trusted source of information, providing balanced coverage of the issues. It delivers information through multiple media so that industry professionals worldwide can tap in when and how they choose. For more information, visit, http://www.foodinstitute.com.