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Walmart's role in helping consumers navigate through difficult economic times and what this means for manufacturers and competing retailers is examined in Information Resources Inc.'s Walmart Stores: Helping Consumers Navigate a Transforming Economy Times & Trends report. For the report, click here. (FI Membership Required)
Wholesale food price inflation was just 0.4% for the four months ended May 1, with substantial declines in fresh fruits, eggs, pork and fats & oil being slightly offset by higher rice, confections and processed fruit & vegetable prices, according to exclusive Food Institute analysis of just-released Producer Price Index data. Full Story (FI Membership Required)
Sales for the Top 100 fast-casual restaurant chains grew 10.8%, totaling $16.7 billion for 2008, according to a Technomic report. Unit growth was also strong, as units for the Top 100 grew by 7.3% in the same period. Panera Bread/Saint Louis Bread Company led the Top 100 with total sales of an estimated $2.6 billion in 2008, a 16.2% increase over 2007, while Chipotle ranked second with sales of $1.3 billion, representing sales growth of 20.7%. Full Story The Coca-Cola Company unveiled a new plastic bottle made partially from plants. Coca-Cola North America will pilot the "PlantBottle" with Dasani and sparkling brands in select markets later this year. Full Story More than half (56%) of consumers are eating dinner at home more often than before the economic downturn and nearly the same percentage are eating dinner less often at restaurants, according to The Nielsen Company. About 42% of those surveyed are buying larger alcohol in larger package sizes; 28% buy more products made in the U.S., 25% purchase more locally-made products and 23% are taking less of an "experimental" approach by buying more "tried and true" products rather than trying new products. Full Story Meanwhile, General Mills COO for U.S. retail Ian Friendly predicts that consumers will continue to eat more meals at home when the economy recovers. The company registered a shift to people eating more at home about four years ago. In addition, the company is also looking to older consumers to propel its longer-term growth plans, reported Reuters. Full Story Latest sales & earnings for food related companies (Updated Daily - FI Membership Required)
Aldi is implementing a series of price reductions across all 67 of its Irish stores on over 230 items, or more than one quarter of Aldi's entire range, reported Irish Examiner. Full Story Burger King Corp.'s Canadian subsidiaries sold 20 restaurants in Ontario to Heartland Food Corp. of Canada. Additionally, Heartland Food Corp. simultaneously closed on the acquisition of 14 previously franchised Burger King restaurants in Ontario. Full Story
Stevia-based sweetener rebiana does not pose any safety questions regarding genotoxicity, according to a study published in Food and Chemical Toxicology, reported Food Navigator Europe. Full Story, Study Abstract
The Massachusetts Public Health Council approved rules requiring major chain restaurants to provide calorie information. Food establishments with 20 or more locations in the state will be required to provide that information at the point of purchase either on the menu board or on the restaurant's menu. The new rules, which will take effect in November 2010, will cover approximately 50 chain restaurant companies, representing more than 5,000 locations in Massachusetts. Full Story The Senate Health, Education, Labor and Pensions Committee voted to approve Dr. Margaret Hamburg as FDA commissioner. The nomination now goes to the full Senate, reported The Associated Press. Full Story
The total U.S. supply of soybeans for 2009/10 could increase by 161 million bushels based on a projected increase in production to 3.195 billion bushels, noted ERS. Domestic soybean crushing is projected to rise 2% in 2009/10 to 1.675 billion bushels, while soybean exports may edge up from 1.24 billion bushels to a record 1.26 billion. Despite a firming of soybean demand, a larger gain in supply raises the forecast of 2009/10 ending stocks to 230 million bushels from 130 million this year. Oil Crops Outlook The 2009/10 outlook for U.S. wheat is for reduced supplies and use, according to ERS. Lower production is expected to more than offset higher beginning stocks as reduced export prospects outweigh expected gains in domestic use. Total production is projected at 2,026 million bushels, down 19% from last year due to reduced area and lower expected yields. Wheat Outlook Report
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