Industry News

General Mills will raise prices on refrigerated baked goods, frozen vegetables and hot snacks such as pizza rolls to overcome input cost increases, which the company predicts to rise 4% to 5% for its current fiscal year. General Mills saw cost run-ups in wheat, cocoa, dairy products, packaging and fuel, stated John Church, supply chain SVP, reported The Minneapolis Star Tribune. Full Story (Free Registration Required)

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Wakefern Food Corp. opened a 90,000-sq. ft. extension to its existing warehouse facility in Keasbey, NJ, reported NJ Today. The Southern Perishables warehouse now measures more than 450,000-sq. ft. Full Story

Shane's Rib Shack created franchise agreements totaling more than 50 units, including 25 stores in Alabama and 20 stores in Central Florida. In 2011, the company expects to open approximately 12 units. Full Story

Starbucks finished replacing nearly all of its incandescent and halogen lighting with LED lighting during a two-year roll-out, reported Trading Markets. Full Story

New Product News: PepsiCo, Inc. is testing a portable kids snack, Tropicana Products, Inc.'s Tropolis, a squeezable fruit snack. Full Story ... Tyson Foodservice introduced Signature Ready Bone-in chicken wings and Red Label Boneless chicken wings. Full Story

Latest sales & earnings from food-related companies (Updated daily - FI Membership Required)

Food Institute News

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International News

Costa Rica imports over 47% of its agricultural needs from the U.S. Top U.S. exports include wheat, rice, soybeans and corn. However, consumer-ready products show greatest potential for expanded export growth, though current values are small compared to bulk commodities. Greatest potential is seen in fresh fruits, pork, poultry, nuts, sauces, juices, frozen potatoes, cheeses, fresh vegetables, dried fruits and beans, noted FAS. FAS Report

Health News

Drinking three glasses of milk per day may lead to an 18% decreased risk of cardiovascular disease, a review by U.S. and Dutch researchers found. Researchers found no link between the consumption of regular or low-fat dairy and any increased risk of heart disease, stroke or total mortality, reported UPI. Full Story

Washington News

U.S. officials outlined a series of initiatives to keep Asian carp from invading the Great Lakes. The programs would include new barricades to block Asian carp and making sure bait shops do not sell Asian carp minnows. Meanwhile, attorneys general from Michigan, Wisconsin, Minnesota, Ohio and Pennsylvania appealed a federal judge's ruling that turned down their request for a preliminary injunction to immediately close locks and take other steps to seal off the Mississippi River basin from the Great Lakes, reported Reuters. Full Story

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Burger King operator Duke and King Acquisition Corp. filed for Chapter 11 bankruptcy protection. The company operated 92 Midwestern Burger King locations and already closed five stores, reported Minneapolis / St. Paul Business Journal. Full Story (Subscription Required)

Market News

In the coming year, area of vegetables used for processing is expected to decline, led by tomatoes, noted FAS. After 2010's smaller but still sizeable crop, smaller world supplies and favorable export demand, tomato processors are expected to contract for increased area in 2011. With input prices again rising, higher prices for alternative field crops, and upward pressure on wholesale tomato product prices, it appears likely that contract prices for tomatoes may also be under upward pressure in 2011 after registering a 19% decline in 2010. ERS Report