The Obama Administration - What Does It Mean For the Food Industry? The Food Institute and Olsson Frank Weeda Terman Bode Matz PC hosted a webinar, The Obama Administration and New Democratic Congress: A Webinar on Food and Agriculture Matters, that discussed the federal legislative and regulatory landscape for 2009 as it relates to the food industry. Click here to purchase the webinar, which is now available for $99 for Food Institute members and $149 for non-members.

The food manufacturing industry added 44,000 jobs in April, according to the latest unadjusted Employment Situation report from the Bureau of Labor Statistics. However, employment remained 3% less than a year earlier. Meanwhile, employment at food and beverage stores fell 0.4% during the month and was 2.8% less than a year earlier, at 2.78 million. At foodservice and drinking places, employment increased by 138,000 during April but was still 1.4% under April 2008 figures. Full Story

With about $35 billion in sales anticipated this year, restaurants in Texas could lead the industry in economic growth, according to the National Restaurant Association. The $35 billion figure represents a 4% increase in sales year-over-year but is down from 5.6% growth in 2008. The national sales growth rate is expected to be about 2.5%, reported San Antonio Business Journal. Full Story (Free Registration Required)

Sales by beer, wine and distilled alcoholic beverage merchant wholesalers totaled $113.45 billion in 2007 from 4,147 establishments, marking a 29.6% increase in sales from 2002 and a 4.3% decrease in the number of establishments, according to just-released Census data from the 2007 Economic Census. Full Story

IDI Inc. finalized its acquisition of Kantner Ingredients. Kanter Ingredients manufacturers blends and distributes dairy proteins to the food ingredient industry. IDI Inc. produces functional and nutritional ingredients. Full Story

Tasti D-Lite and franchisee MM Ventures LLC will open 35 stores in New York, New Jersey and Connecticut over the next 10 years, reported Nation's Restaurant News. Full Story (Free Registration Required)

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

International News

Anheuser-Busch InBev entered into an agreement with Mr. Chen Fashu, whereby Mr. Fashu will acquire AB-InBev's remaining 7% stake in Tsingtao Brewery Co., Ltd. for $235 million. The parties expect the transaction to close on May 27. Full Story

Health News

People who ate a lower calorie high-fiber breakfast cereal consumed fewer calories from breakfast and lunch compared to those who ate a low-fiber breakfast cereal, according to a study conducted by the University of Toronto and funded by General Mills. The study, published in the American Journal of Clinical Nutrition, compared the effect of the cereals on short-term food intake, appetite and blood glucose. Full Story

Washington News

The Obama Administration's 2010 budget calls for a 19% increase ($134 million) in FDA's budget to $3.2 billion and a $215.4 million increase in industry user fees. Two major initiatives are proposed: Protecting America's Food Supply and Safer Medical Products. It also proposes four new user fees to register and inspect food manufacturing and processing facilities, re-inspect facilities that fail to meet Good Manufacturing Practices and other safety requirements and issue export certifications for food and feed, reported ConsumerAffairs.com. Full Story, FDA Release The Wall Street Journal analyzed increases in FDA's proposed budget. Full Story (WSJ Subscription Required)

SK Foods, LP filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The company received notice of termination from the financial lending group, which includes Bank of Montreal, Wells Fargo Banking, and Bank of the West, which forced the company to file Chapter 11 bankruptcy. The company is currently marketed and actively for sale with a target sale date of late June 2009. Full Story

Market News

Global rice prices rose to record highs in the spring of 2008, with trading prices tripling from November 2007 to late April 2008, according to an ERS report. The price increase was not due to crop failure or a particularly tight global rice supply situation. Instead, trade restrictions by major suppliers, panic buying by several large importers, a weak dollar and record oil prices were the immediate cause of the rise in rice prices. ERS Report

Processors of french fries and other frozen potato products reduced overall contracted potato acreage in the Northwest this year by an estimated 8% to 10% due to shrinking demand. Potato growers were forced to lower their expectations in response. Meanwhile, some farmers who had previously grown for Lamb-Weston, a division of ConAgra, were surprised to find out that they would not receive potato contracts this year, according to industry officials, reported Capital Press. Full Story (Subscription Required)