Food Business News - Sep 30, 2008 - (Page 1)

FoodBusinessNews ® NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY Snacking - The fourth meal September 30, 2008 Food industry weathers financial crisis 21 Whole grain hype or reality? 29 Beauty in a bottle 35 MARKET ARKET WATCH U.S. retail diesel price per gallon $5.00 Share prices of diversified food companies hold tough while high-flying ingredient makers decline KANSAS CITY - While the financial crisis and mortgage debt bailout have placed the stock market spotlight principally on the financial sector, shares of companies in various parts of the food industry have moved in widely varying ways both in recent weeks and in the period since May when stock market weakness first became pronounced. Additionally, while the health of the financial sector has appeared in greatest peril in the period leading to the federal bailout plan for holders of distressed mortgage-backed securities, market analysts warned that food companies and other sectors may not escape unscathed from the economic and financial market developments buffeting the United States. Hardest hit since May and in the last few Continued on Page 14 $4.50 $4.00 $3.50 April May 2008 June July Aug. Sept. Source: Energy Information Administration First average below $4 a gallon since mid-April. Questions arise about Section 912 and its impact on functional foods KANSAS CITY - People in the food and beverage industry may have questions about the potential effects on new product innovation under Section 912 of the Food and Drug Ad- ministration Amendments Act of 2007. Even Michael M. Landa wants clearer definitions on specific words, and he's deputy director for regulatory affairs for the F.D.A.'s Center for Food Safety and Applied Nutrition. "I think this is a really difficult statute to parse," Mr. Landa said Sept. 24 during an Institute of Food Technologist's webinar called "Section 912: Potential Threat to Food Innovation." Section 912 amends Section 301 of the Federal Food, Drug and Cosmetic Act (See Food Business News of July 22, Page 1). It prohibits the interstate shipment of certain foods that have had an approved drug or a Continued on Page 8

Table of Contents for the Digital Edition of Food Business News - Sep 30, 2008


Food Business News - Sep 30, 2008