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Food prices

Commodity prices have a knock-on effect throughout the food supply chain, from growers to the supermarket shelves. For formulators, the challenge is to reduce reliance on more expensive ingredients, but still deliver products that have the taste and texture consumers have come to expect.

Dean Foods to ‘accelerate’ cost-cutting efforts in 2013 to offset private label loss

US dairy giant Dean Foods plans to “accelerate” its existing cost reduction efforts in 2013 in an attempt to minimise the impact of an anticipated decline in private label milk volumes.

News in brief

Cargill’s Q3 net earnings slump 42% as high feed costs dent margins in meat business

Cargill’s net earnings slumped 42% to $445m in the third quarter of fiscal 2013 (ended Feb 28) compared with Q3 2012, as high feed costs hit margins in its North American meat operation.

Bill Gates: Food industry innovation crucial for health and food security

Our approach to food is ripe for reinvention – and the food industry is just at the beginning of what it can achieve through innovation, according to Microsoft mogul and...

Fortified gum prospects in fastest-growing Mexican confectionery category

All confectionery categories will grow in Mexico over the next five years, but gum will grow the fastest and confectioners can capitalize with products enriched with vitamins and minerals, according...

McCormick CEO: Everybody is expecting this year's growth to be driven much more by volume than pricing

While surging commodity prices have meant that much of the industry’s growth in the past year or two has come from pricing rather than volume, things are beginning to change,...

News in brief

Glanbia Nutritionals launches whole egg replacement ingredient from WPC and flax

Glanbia Nutritionals has launched a new ingredient to replace whole eggs in bakery applications as firms seek alternatives in the face of steep price increases in the egg market.

Will vitamin C price fixing victory constrain future Chinese cartel behavior?

A longstanding vitamin C price fixing case has reached conclusion with a $162 million judgment in the case involving four Chinese companies. While its a victory for the concept of...

Confectionery not recession proof; target emerging markets, says Goldman Sachs

The confectionery industry is not immune to economic recession and must exploit opportunities in emerging economies to grow, according to an analyst from Goldman Sachs.

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Smucker cuts coffee prices by 6% as green coffee costs come down

JM Smucker is cutting the list price for most of its packaged coffee products sold in the US by an average of 6%, in response to lower green coffee costs, said...

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Happy Valentine’s says the NCA… Let’s celebrate by reforming the sugar regime…

The National Confectioners Association (NCA) celebrated Valentine's Day with a renewed push for reform of the sugar regime.

Dairy Farmers of America agrees to $156.8m milk price fixing settlement

Dairy Farmers of America (DFA) has agreed to pay $158.6m to settle a 2007 lawsuit that alleged it conspired with Dean Foods and others to suppress raw milk prices across...

Food industry to Congress: We're still paying over the odds for sugar...

While US refined sugar prices have dropped since last summer and sugar producers claim the nation is “swimming in sugar”, food manufacturers say prices are still “far above historical norms...

US COMMODITIES CORNER

Dairy prices down, but US market looking 'healthy' - Part two

In part two of his December 2012 US dairy commodities breakdown, MilkPrice blogger John Geuss gives DairyReporter.com the latest on whey, cheese and butter prices, as well as the "positive" impact of...

US COMMODITIES CORNER

Dairy prices down, but US market looking 'healthy'

US dairy commodity prices dropped in December 2012, but low inventories and high exports have left the market still looking "healthy." US commodities expert and MilkPrice blogger John Geuss gave...

Average price per volume for energy drinks dropped 7.6% in 2012

While the price per volume of many ‘center of store’ food products rose in 2012, the average price per volume for energy drinks dropped 7.6% in 2012 vs 2011 across...

US dairy co-operatives slam Congress ‘dairy cliff’ deal

Dairy Farmers of America (DFA) and Land O’Lakes have slammed Congress’ recent decision to extend the government’s current milk-buying programme.

Energy drinks, coffee and bottled water: The top performers in the center of the store

While volumes (unit sales) of all the other core ‘center of store’ categories declined in 2012, volumes of energy drinks, bottled water and coffee climbed strongly, according to Symphony IRI Group.

US Congress backs deal to avert ‘dairy cliff’

US Congress has cleared a bill that will extend the government’s current milk-buying programme - effectively preventing a steep increase in the price of dairy products.

Almendra promises to shake up stevia market with purity levels ‘unmatched in the marketplace’

A new player in the stevia supply market promising purity levels “unmatched in the market place” says it will be in a position to start supplying commercial quantities of extracts...

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ConAgra Foods: ‘We expect volume trends to continue to improve’

Marie Callendar’s and Healthy Choice maker ConAgra Foods said it expects volumes trends to improve in the coming months, as it posted second quarter results ahead of analysts’ expectations.

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American Sugar Alliance: ‘The country is swimming in sugar’

Sugar prices in the US have fallen more than 40% since last summer and are now at “dangerously low levels for producers who are facing ever-increasing input costs”, according to...

Guest article

General Mills: We’ll only solve global food security challenge if we embrace open innovation

Can we feed nine billion people by 2050? Only if we embrace the principles of open innovation, says Jeff Bellairs, senior director of the General Mills Worldwide Innovation Network (G-WIN) ,...

Special edition: Reformulation

How to save cash, boost nutrition and clean up product labels…Tate & Lyle on win-win reformulation

Retail buyers, as every food and beverage manufacturer knows, want it all. Cleaner labels, an improved nutritional profile (lower fat, sugar and salt), great taste and texture - and an...

Special edition: Reformulation

The lowdown on commodity prices, what they mean for food prices in 2013, and why 2012/13 is not going to be a repeat of 2007/8

“While you can look at one specific cost and you can say it's gone down, I could give you a story for another raw material where it's gone up”, observed...

Food makers turn to natural antioxidant blends to manage price spikes

Food manufacturers looking to extend shelf life with natural antioxidants have started using blended ingredients in an effort to deal with spiralling raw material costs, according to Frost & Sullivan.