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| September 03, 2010 Editor's Note: Daily Update will not publish Monday, Sept. 6. Publication will resume Tuesday, Sept. 7. Industry NewsMid Valley Foods opened a $2.8 million facility in Oakdale, CA which will allow the company to triple production. Mid Valley's primary business is supplying beef, chicken and pork to grocery stores, meat markets and other businesses and also sells sour cream and cheeses, reported Modesto Bee. Full Story (Free Registration Required) The U.S. ice cream market is expected to reach $6.8 million in 2010, according to Mintel Global Market Navigator. In the U.S., vanilla is the flavor of choice, accounting for 11% of ice cream product launches in 2009. Chocolate is a close second, with 8%. Premium lines accounted for 9% of global ice cream product launches in the last six months, while economy lines represented 4% of global launches. Full Story
Seattle's Best Coffee now distributes its coffee in 30,000 retail locations, a 10-fold increase since March. The company considers the growth "the first step toward 100,000 or more," stated president Michelle Gass. Full Story Online shop Chocomize lets customers customize their candy bars with ingredients ranging from graham crackers to gold flakes, reported Bloomberg BusinessWeek. The company sold some 50,000 bars in the past nine months and can produce about 4,000 bars a week. Full Story Private-equity firm 3G Capital Management Inc. favors Burger King's plans for expansion in Asia and Latin America and was attracted by the company's growth in Latin America, particularly Brazil, according to Burger King CEO John Chidsey. 3G, a company backed by Brazilian businessmen, previously invested in the Wendy's and Carl's Jr. restaurant chains but recently sold about $18 million of shares it held in Wendy's and Jack In the Box Inc., reported The Wall Street Journal. Full Story (WSJ Subscription Required) Latest sales & earnings from food-related companies (Updated daily - FI Membership 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.
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Venezuela plans to pay Casino Guichard-Perrachon et Cie. SA about $600 million for a majority stake in the French food retailer's local unit, Cativen, reported The Wall Street Journal. Full Story (WSJ Subscription Required)
Health NewsSchool children who consume foods purchased in vending machines are more likely to develop poor diet quality, according to research from the University of Michigan Medical School published in Journal of School Health. Among those surveyed, 22% of school children consumed competitive or vended food items in a school day. Usage was highest in high school, where 88% of schools had vending machines, compared to 52%of middle schools and 16% of elementary schools. Full Story
Washington NewsThe number of Americans receiving food stamps rose to a record 41.3 million in June, according to USDA, reported Bloomberg BusinessWeek. Full Story
Market NewsProduction of the 2010 asparagus crop is forecast at 741,000 cwt, down 18% from 2009. Snap bean production, at 736,680 tons, is down 6% from last year's production. Sweet corn production, at 2.73 million tons, is down 16% from last year. Green pea production, at 351,480 tons, is 20% below 2009. Contracted area for harvest of the four major processing vegetable crops, at 988,150 acres, is 10% below 2009. USDA Vegetable Report
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FI's Mission: The Food Institute strives to be the best "single source" for current, timely and relevant information about the food industry from "farm to fork." The association serves as a trusted source of information, providing balanced coverage of the issues. It delivers information through multiple media so that industry professionals worldwide can tap in when and how they choose. For more information, visit, http://www.foodinstitute.com. |
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