Food Business News - Mar 18, 2008 - (Page 1)

FoodBusinessNews ® NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY March 18, 2008 Administration: Food-versus-fuel debate is 'manageable' President Bush, advisers optimistic about ethanol's future; critics chafe JBS goes on beef binge 10 Eyeing antioxidants 37 Trans fat elimination 41 MARKET WATCH U.S. honey production in million lbs 2007 2006 WASHINGTON - President George W. Bush and senior administration officials affirmed the U.S. commitment to expanding the production and use of biofuels when they spoke before 2,800 delegates from 119 nations assembled at the Washington International Renewable Energy Conference March 4-6. President Bush and his advisers said they recognized expanded use of food and feed crops in the production of biofuels had some effect on U.S. and world food prices, but indicated other factors exerted greater upward pressure on food prices in recent months. The administration view was the food-versus-fuel controversy is "manageable." President Bush said of the biofuels biod- iesel may be the most promising, indicating biodiesel refineries may produce fuel from soybean oil and other vegetable oils as well VS as from recycled cooking grease and other waste materials. "Last year, we produced 450 million Continued on Page 22 148 155 2000 1963 220 299 Source: U.S. Department of Agriculture Honey production in 2007 was the lowest on record. A return of focus Struggling diversified food companies seek to emulate smaller industry players As the 20th century transitioned to the 21st, the nation's largest food companies were on an acquisition tear. Positioning themselves for growth in the new century, the companies grew with one mega- acquisition after another. Kraft/Nabisco, Kellogg/Keebler, General Mills/Pillsbury, PepsiCo/Quaker, Unilever/Bestfoods and Sara Lee/Quaker are among the familiar transactions consummated during this period. For many of the buyers, the intervening years have hardly met expectations. With the century's first decade entering its twilight, the industry's large diversified companies have continued to struggle. The difficulties have not been limited to companies that made major acquisitions in the 1999-2001 period. Even companies like Campbell Soup Co.; ConAgra Foods, Inc.; and H.J. Heinz Co. continue to Continued on Page 31

Table of Contents for the Digital Edition of Food Business News - Mar 18, 2008


Food Business News - Mar 18, 2008