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Today in Food Manufacturing

Daily news and top headlines for food manufacturing professionals

Photo Of The Day: Red Wine Health Benefits May Be Overstated

October 30, 2012 10:28 am

Resveratrol, an ingredient in red wine thought to improve insulin sensitivity, reduce risk of heart disease and increase longevity, does not appear to offer these benefits in healthy women, new research at Washington University School of Medicine in St. Louis indicates.

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Archer Daniels Midland 1Q Profit Falls

October 30, 2012 10:22 am

Archer Daniels Midland said Tuesday that its fiscal first-quarter profit dropped 60 percent, hurt by charges stemming from the planned sale of a Mexican food company. For the quarter that ended Sept. 30, the agribusiness conglomerate earned $182 million, or 28 cents per share, down from $460 million, or 68 cents per share, in the same quarter last year.

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Mizkan To Acquire British Pickles Brand

October 30, 2012 9:40 am

Mizkan Group Corp. said Tuesday it has agreed with Premier Foods Group Ltd. of Britain to buy out its range of sweet pickles and table sauces by early 2013 aiming to tap further into the British market. The Japanese seasoning and food manufacturer will acquire the Branston brand of products that includes pickles, ketchup, relish, salad cream and mayonnaise.

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Listeria Fears Prompt Cheese Recall

October 30, 2012 9:38 am | by The Canadian Press

The Canadian Food Inspection Agency has announced the recall of the Krinos brand of Mini Kashkaval Cheese because of possible Listeria contamination. The federal agency says the sheep cheese is being voluntarily recalled by its distributor Krinos Foods Canada of Vaughan, Ontario.

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Economic Issues May Defy Next President

October 30, 2012 9:37 am | by CHRISTOPHER S. RUGABER,AP Economics Writer

Whoever wins the U.S. presidential election will likely struggle to manage the biggest economic threats he'll face. Europe's recession will persist deep into the next presidential term, according to a majority of the 31 economists who responded to the survey. A weaker European economy would shrink demand for U.S. exports and cost U.S. jobs. Yet there's little the next president can do about it.

XL Foods Resumes Production

October 30, 2012 9:34 am | by The Canadian Press

Production has resumed at the Alberta plant that has been at the heart of a massive beef recall over an E. coli outbreak. About 2,000 workers were back on the job on Monday. Mayor Martin Shields said he attended a few events in the town over the weekend and could tell people were more relaxed and positive than they have been in recent weeks.

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Consumer Spending Rose 0.8 Percent In September

October 29, 2012 12:47 pm | by MARTIN CRUTSINGER,AP Economics Writer

Americans increased their spending in September at twice the rate that their income grew, a sign of confidence in the economy. Still, consumers made up the difference by saving less for a third straight month, a troubling trend. The Commerce Department said Monday that consumer spending increased 0.8 percent in September from August.

Burger King’s Profit Down Amid Turnaround Push

October 29, 2012 12:46 pm | by CANDICE CHOI,AP Food Industry Writer

Burger King's net income fell 83 percent in the third quarter as the world's second biggest hamburger chain sold off more of its restaurants to franchisees as part of a turnaround push. But the company's adjusted results topped Wall Street expectations, and its shares advanced.

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WhiteWave Shares Slip On First Day Of Trading

October 29, 2012 9:44 am

Shares of organic dairy company WhiteWave Foods slipped on their first day of trading on the New York Stock Exchange. The stock, which was priced at $17, closed at $16.75 Friday after rising as high as $19.17 in early trading. WhiteWave Foods Co. sells Horizon organic milks and plant-based dairy alternatives, such as Silk Soymilk.

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How The Drought Is Affecting The Economy

October 29, 2012 9:42 am | by MARCY GORDON and PAUL WISEMAN,AP Business Writers

The worst drought in decades didn't just shrivel corn and soybeans. It shrank economic growth too. The government said Friday that the U.S. economy grew at a modest 2 percent annual rate from July through September. And the crop-killing drought reduced growth by 0.4 percentage points.

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Canada Ag Minister Talks About Labels For Tenderized Beef

October 29, 2012 9:41 am | by The Canadian Press

Canada's agriculture minister says federal officials are looking at issues surrounding mechanically tenderized meat in the wake of a massive E. coli-related beef recall from Alberta's XL Foods. Gerry Ritz was in Regina on Friday and reporters asked him about the process, in which lesser cuts of steak are pressed with steel blades and needles to make them tender.

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Hain Closes $321M Deal For Premier Foods Brands

October 29, 2012 9:39 am

The Hain Celestial Group closed on its acquisition of Premier Foods PLC's lineup of packaged grocery brands for about $321 million in cash and stock, the natural and organic food company said Monday. The deal includes a handful of brands that cover a range of products such as peanut butter, honey, jams, fruit and jelly, marmalade and chocolate.

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U.S. Senators Ask FDA To Act On Energy Drinks

October 29, 2012 9:37 am

Two U.S. senators on Friday again called on federal regulators to close what they say are loopholes that allow energy-drink makers to sell products with additives and high levels of caffeine that the lawmakers say have not been proven safe.

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Bumper Crop Could Mean Falling Peanut Butter Prices

October 26, 2012 12:31 pm | by GREG SCHREIER,Associated Press

Peanut butter prices soared last year after a drought and high heat in the Southeast, where most peanuts are grown. This year, that region got a break while farmers in most of the rest of the United States suffered huge losses in the widest drought in decades.

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Hershey Raises Profit Outlook

October 26, 2012 12:28 pm

Hershey reported a 10 percent drop in third-quarter net income as one-time charges led to the first such decline in four quarters, but it raised its profit outlook for the whole year. The maker of Reese's Pieces, Hershey's Kisses and Jolly Ranchers earned $176.7 million, or 77 cents per share in the three-month period ended Sept. 30.

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McDonald’s To Sell Ground Coffee In Canada

October 26, 2012 12:26 pm | by CANDICE CHOI,AP Food Industry Writer

McDonald's will start selling bags of ground coffee at its restaurants in Canada next month, a move that could spread to other regions around the world if successful. The world's biggest hamburger chain says the ground coffee will be available in the majority of its 1,400 stores by Nov. 8.

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Coca-Cola Steps Up Investment In Vietnam

October 26, 2012 12:23 pm

The Coca-Cola Co. and its bottlers say they're more than doubling their investment in Vietnam over the next few years, as the world's biggest beverage maker intensifies its push to capitalize on emerging markets. The Atlanta-based company said Friday that it will invest an additional $300 million in Vietnam over the next three years.

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Diamond Foods To Restate More Financial Results

October 26, 2012 12:21 pm

Diamond Foods Inc. said Thursday that it will restate two additional quarters of financial data as the snack food company tries to clean up the fallout from its improper accounting of payments to walnut growers. The company launched an internal investigation last year that ultimately found the company improperly accounted for payments to walnut growers in 2010 and 2011.

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Consumer Trends: Top Food Trends For 2013

October 26, 2012 12:18 pm

Sterling-Rice Group has identified the top ten food trends that will be served on restaurant menus and line the supermarket shelves across the U.S. in 2013. With a breadth and depth of culinary experience, the brand strategy, innovation, and creativity firm has counseled and created foods for several of the largest food companies in the world.

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Drought Hangs On As Harvest Wraps Up

October 26, 2012 9:48 am | by JIM SUHR,AP Business Writer

The worst U.S. drought in decades showed little sign of easing last week as farmers closed out their corn and soybean harvests and turned their attention to winter wheat, which has been struggling to break through the moisture-starved soil in some states, according to a weekly report.

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