Industry News

Strong competition (90%) and general economic conditions (83%) are the most common risk factors among the 100 largest public U.S. retailers, according to The 2008 BDO Seidman RiskFactor Report for Retail Businesses. An increasing concern, as compared to 2007, was the risk associated with international suppliers, reflecting unease over recent product safety issues with China (79% and the 3rd highest risk). Full Story

There will be less, but more expensive, chicken on supermarket shelves this summer as higher feed prices are passed onto consumers, according to Tyson Foods, reported Reuters. The chicken industry has cut production in reaction to higher feed prices, Tyson chief executive Richard Bond said during a webcast presentation at the BMO Capital Markets agriculture and protein conference. Full Story

Consumers are expected to purchase more than 21 million cases or $381 million of beer in major supermarkets during the two weeks surrounding the Memorial Day holiday, second only to the July 4 holiday, according to The Nielsen Company. Meanwhile, the two weeks surrounding Memorial Day represents approximately 5% of annual beer sales on a volume basis. Full Story

Although 82% of Americans are confident in their ability to safely prepare food, many report not following simple procedures to reduce the spread of bacteria in their kitchen or ensure safe cooking temperatures, according to International Food Information Council Foundation's third annual Food & Health Survey. Full Story

Jones Soda is forging ahead with plans to enter the mainstream-soda market, reported The Seattle Times. Jones' bid to go national started well two years ago, more than tripling fourth-quarter 2006 earnings to $2.1 million. However, delays in getting cans onto shelves led to a 98% profit drop in mid-2007, and the company has yet to recover. Full Story

Food Institute News

CANNED FOODS NEEDED: In the summertime, many children who benefited from school meals will go without. Children's Hunger Fund needs canned vegetables, fruits, meats, and soups as well as beans and pasta. We are always interested in most any food products for our year-round programs that help feed more than 8,000 families per week. If your company has product to donate, CHF will arrange logistics to get your product into the hands of children all over the world. To donate, please contact Bryan Biggers at bbiggers@childrenshungerfund.org.

NEW FI PODCAST: The Food Institute's podcast on Food Business Mergers & Acquisitions is now available. To listen to this free podcast, which takes a look at the transactions that occurred in 2007 and reveals some of the emerging trends, click here.

ONLINE HACCP TRAINING: The Food Institute is now offering online training courses through a strategic alliance with FoodSafety.com. This innovative web-based training service provides companies and their employees with "anytime, anywhere" access to quality, cost-effective training materials. Whether you operate a large manufacturing facility or small retail establishment, your employees simply need internet access to train in areas critical to your business, including HACCP, OSHA, and Employment Law. Click here for details.

SGF Soquia, Inc. SGF Soquia is a Quebec, Canada crown corporation. It's primary role is to participate in the development of agri-food and biotechnological companies wishing to establish themselves, expand or innovate in the Province of Quebec. Through the injection of venture capital, SGF allows its partners to build the development of their business on a solid financial base and face foreign markets with confidence. SGF intervenes throughout the business process. To learn more about this 10-year Food Institute member visit: www.sgfqc.com. Interested in seeing your company featured here? Email us for more details.

About Us | Publications | Merger & Acquisition Search* | Report Article Search* | Ask an Expert

* Members only

International News

The price of tortillas in Mexico is expected to jump about 18% by June on rising costs for fuel and corn, according to the head of the National Chamber for the Tortilla and Dough Industry, which groups together about 40% of the country's tortilla producers. In the past, the Mexican government has made deals with retailers and producers to control tortilla costs, according to Reuters. Full Story

Health News

Several studies probing the health effects and stability of a calorie-free natural sweetener that Cargill Inc. and Coca-Cola Co. aim to market will soon be published, offering evidence of its safety. The results could put the two companies one step closer toward gaining U.S. regulatory approval for their sweetener, which is derived from the South American herb stevia, reported The Wall Street Journal. Full Story (WSJ Subscription 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.

Washington News

The House passed a $290 billion Farm Bill with increased subsidies for farmers and food stamps for the poor. The 318-106 vote for the five-year bill gave supporters 28 more than they need to override a promised veto from President Bush, who complained the measure is too expensive and generous to farmers now enjoying record earnings. The Senate plans to vote on the bill May 15, reported The Associated Press. Full Story, Presidential Release, Agriculture Secretary Release

Market News

Rice production in Asia, Africa and Latin America is forecast to reach a new record level in 2008, according to the UN's Food and Agriculture Organization. However, world rice prices could remain high in the short term, as much of the 2008 crops will only be harvested by the end of the year. Full Story