New From The Food Institute: Food Industry Review, 2008 Edition - From industry trends and sales figures to new product launches and top companies, the Food Institute's Food Industry Review, 2008 Edition contains valuable information for the success of any food related business, whether it is retail, foodservice or manufacturing. This 700+ page reference is available in several convenient formats. Order Food Industry Review, 2008 Edition today to gain access to the most comprehensive analysis of the food industry. Click here for details.

Target Corp. will introduce a mini grocery store concept to 100 new and remodeled stores this year with fresh foods and other groceries. The new minigroceries increased food sales 50% at test stores and lifted sales of other items as well, Target chief executive Gregg Steinhafel stated, and the minigroceries concept may ultimately be added to most of its 1,300 Target stores. Target also began a pilot program to match the prices of competitors in three regions of the country, and the program could go nationwide by fall, reported The Wall Street Journal. Full Story (WSJ Subscription Required)

High income shoppers spent 18% more at dollar stores in the second half of 2008 compared to the prior year, according to The Nielsen Company. An estimated 65 million U.S. consumers shopped at dollar stores in 2008. About 45% of dollar store sales are from low annual household incomes (below $30K), 47% from middle incomes (between $30K and $99.9K), and 8% from high incomes (greater than $100K). The most loyal dollar store customers tend to have low incomes and live in small towns and rural areas or in urban centers. Full Story

Central Grocers Cooperative completed its merger with Certified Grocers Midwest with the opening of a new 940,000-sq. ft. distribution center. Central Grocers relocated its headquarters to Joliet, IL, reported Supermarket News. Full Story

Some 87% of consumers now claim that is their intention to save more and spend less, 13% more than in December 2008, according to a Technomic survey. Of those surveyed, 51% also believe the economy will worsen this year while 26% think it will improve. Full Story

Sunoco is testing a redesign of all of its APlus convenience store locations on the East Coast in order to maximize its focus on coffee sales and packaged goods. Full Story

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

International News

Austrian imports from the U.S. food processing sector totaled $113 million in 2008, not including significant and steadily increasing transshipments from other EU countries. U.S. exporters will find export opportunities for dried fruits and nuts, rising demand for seafood, specialty meats, certain wellness and/or organic products, pet food and non-alcoholic beverages. Full Report

In 2008, Japan imported 996 million-lbs. of U.S. pork valued at nearly $1.55 billion, according to the U.S. Meat Export Federation. Through January and February of this year, exports to Japan accelerated by 23% in volume and 35% in value over the same period last year. Full Story

Health News

The food families keep on hand is generally nutrient-rich and boasts a greater supply of protein, vitamin A and vitamin C than the baseline amount for the day established in the Daily Values, according to a study from Rutgers University commisioned by the Canned Food Alliance. Full Story

Washington News

Some 600 bills addressing food safety were introduced in state legislatures since January, and 135 of those bills would tighten standards on food inspections, processing and sanitation, up from fewer than 100 in 2008, according to Doug Farquhar, a program director at the National Conference of State Legislatures. Critics of the state legislation argue that a patchwork of regulations will result and create costly and unnecessary difficulty for food makers and distributors, reported The Wall Street Journal. Full Story (WSJ Subscription Required)

An unnamed company bought out a bank's credit line to Agriprocessors Inc., marking the sale's first step. However, no date was established for a plant sale, according to Joseph Sarachek, a bankruptcy trustee, reported The Associated Press. Full Story

Market News

Florida frozen concentrated orange juice yield forecast for the 2008-09 season is 1.65 gallons per box at 42 degrees Brix, up 1% from the April forecast but 1% lower than last season's record yield of 1.67 gallons per box. The early-midseason portion is final at a record high 1.60 gallons per box, up 3% from last season's final yield of 1.55 gallons per box. The California 2009 peach crop is forecast at 800,000 tons, down 6% from 2008 and 16% below two years ago. Meanwhile, Hawaii banana production for 2008 is estimated at 17.4 million-lbs., down 32% from the previous year. Crop Production Report

Meanwhile, orange-juice futures rose 1.6% to a six-month high on worries over drought in Florida and fatal citrus greening. Believing that traders are fearful of a drought, vice president at Price Futures Group Jack Scoville claims "this is one of the driest dry seasons Florida has had on record." While losses to the 2009-2010 crop may have already occurred, the damage is currently minimal, reported The Wall Street Journal. Full Story (WSJ Subscription Required)