Food Business News - Nov 14, 2006 - (Page 1)

FoodBusinessNews ® November 14, 2006 NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY Orange juice prices rising on tight stocks, small crop Nestle, Coke refocusing joint venture Rep. Collin Peterson to lead House Ag committee 61 MARKET WATCH Fourth-quarter turkey prices 8- to 16-lb hens, East cents per lb 2006 85.0 2005 83.6 77.1 2004 2003 Feeding the Millennials Food service company retools university dining system for a new generation 67.4 Source: U.S. Department of Agriculture Relatively tight supply will push turkey prices higher. Expectations are running high for Generation Y, or the Millennials as they are known. For the food industry, the generation born beginning in the early 1980s is leaving home and starting to emerge as the pivotal market force of the next two decades. In their 2000 book, "Millennials Rising: The Next Great Generation," authors Neil Howe, William Strauss and R.J. Matson said the generation born after 1982 largely was raised by the generation of yuppies and will be marked by a spirit of action and social conservatism. The authors, well known for their data-rich books chronicling America's generations, more recently wrote "Millennials Go to College: Strategies for a New Generation on Campus." "The Millennial Generation will entirely recast the image of youth from downbeat and alienated to upbeat and engaged - with potentially seismic consequences for America," the authors wrote. As this generation, numbering 80 million, has begun leaving home, food service companies are looking at what changes are needed to best serve this group. One company, the Chartwells Educational Continued on Page 32 COURTESY OF 16 THIS PHOTO Focus on convenience, nutrition for toddlers KANSAS CITY - Orange juice prices are headed upward as forecasts for a third consecutive small Florida orange crop shrinks already tight juice stocks. The nation's two largest orange juice producers, Tropicana and Minute Maid, both said they have or planned to raise orange juice prices and reduce trade spending after the U.S. Department of Agriculture earlier this fall forecast the smallest Florida orange crop in 17 years. Last week, PepsiCo's Tropicana Products Inc. said it would increase U.S. customer list prices 4% to 8% on Tropicana Pure Premium and Dole Chilled Orange Juice as of Jan. 1, 2007, as well as reduce the amount and frequency of discounts across the board. Combined with a 10% price increase in September, the total increase will be about 20%, the company said. "Tropicana has worked extremely hard the last two years to minimize the cost impact to Continued on Page 20 PRNEWSFOTO 14

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Food Business News - Nov 14, 2006