Industry News

Wal-Mart Stores, Inc. lowered its capital expenditure forecast for the current fiscal year, ending Jan. 31, 2009, to between $13.0 and $14.0 billion, down from the $13.5 to $15.2 billion range it forecast in October. The retailer continues to be focused on moderating supercenter growth in the U.S. Full Story

In trying to boost the participation of Wal-Mart and other large companies such as Procter & Gamble, some proponents of fair trade fear the whole idea of helping small farmers is getting warped. Many of the beneficiaries, critics say, wind up being the same type of big operations that prospered under the old system, reported BusinessWeek Online. Full Story

Demand for trucking services is falling. The American Trucking Association's for-hire truck tonnage index, a measure of how much freight trucks are hauling, fell 1.1% in April, compared with its level in March, following a 1.7% drop from February to March. Full Story

Nearly 60% of consumers claim increased gas prices will impact their July 4 spending, up from 42.1% last year, according to the National Retail Federation's (NRF) 2008 Independence Day Consumer Intentions and Actions survey, conducted by BIGresearch. Retailers are aware of the strain gas prices have on consumers and most will be offering special promotions on food and beverages, noted NRF President and CEO Tracy Mullin. Full Story

McDonald's franchisees are currently resisting a company plan to give away chicken sandwiches in August. Resistance to the promotion reflects rising tension between McDonald's and its franchisees, reported Crain's Chicago Business. Full Story (Free Registration Required)

Food Institute News

The Future of Food Retailing - A Webinar hosted by the Food Institute and Willard Bishop
Tuesday, June 24, 2008 at 2pm (EST)

The future of food retailing for the next three to five years will be dramatically affected by two major trends: food inflation and the emergence of small format stores. Join Willard Bishop and The Food Institute for our annual Future of Food Retailing webinar, as we examine the state of the food and consumables retail industry in 2007 and beyond. Find out what the industry experts at Willard Bishop foresee happening over the next five years, in terms of the strategies that retailers are implementing and their impact on the supplier community. Not only will you get an understanding of where these industry experts see the food retailing world headed, you will have an opportunity to have your specific questions answered. For details or to register, click here.

Several factors are driving food price increases, according to Brian Todd, president of The Food Institute. For instance, high fuel prices make food more expensive to transport, the devalued dollar has ramped up U.S. exports of food, and more of the corn crop is being used to produce ethanol, noted Mr. Todd. In 2007, food prices increased by 4% and are expected to escalate another 6% in 2008, reported The News Tribune. Full Story

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

* Members only

International News

China's currency reached an all-time high against the U.S. dollar as American and Chinese officials resumed talks centering on trade and other strategic issues. The U.S. wants China to loosen controls on currency trading and allow the yuan's rate to set by market forces. U.S. manufacturers contend that the restrictions keep the yuan's value artificially low, giving Chinese exporters an unfair advantage and boosting China's trade surplus, reported CBSNEWS.com. Full Story

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.

Health News

After studying current research, the American Medical Association concluded that high fructose syrup does not appear to contribute more to obesity than other caloric sweeteners, but called for further independent research to be done on the health effects of high fructose syrup and other sweeteners. Full Story

Washington News

The Chinese government gave approval for plans to allow U.S. food and drug inspectors in three Chinese cities - Beijing, Shanghai and Guangzhou. FDA inspectors should be in place before the end of the year. However, the head of the Chinese agency in charge of guaranteeing safety and quality control said the issue had not been totally resolved because U.S. authorities have not given permission to allow Chinese food and drug inspectors in the U.S., according to The Associated Press. Full Story

How Can You Comply With Complex Food Safety Regulations? The Food Institute's HACCP & U.S. Food Safety Guide - 2nd Edition provides clear explanations of the recent regulations and requirements issued by FDA and USDA regarding the handling and sanitation of food products. Authored by Olsson, Frank & Weeda, P.C., this guide includes information on applying HACCP plans in the plant, mandatory HACCP systems in general and specific HACCP requirements for seafood, meat & poultry. For details, click here.

Market News

The Fishery Foundation of California completed transplanting the output of state-run salmon hatcheries to the top of San Pablo Bay. Salmon carried by truck to net pens in the Bay have a two to four-times better chance of surviving and returning to spawn as adults than fish released directly from the hatcheries, according to the state Fish and Game Department, reported The Contra Costa Times. Full Story (Free Registration Required)