Food Business News - Dec 09, 2008 - (Page 1)

FoodBusinessNews ® NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY 7-Eleven launches 7-Select food brand December 9, 2008 Pilgrim's Pride Corp. files for bankruptcy protection 17 F D A esta F.D.A. establishes establish melamine threshold 19 Ingredients of tomorrow 33 MARKET WATCH U.S. lemon production 1,000 tons 2008-09 2007-08 PITTSBURG, TEXAS - Facing significant financial challenges related to increased costs and a difficult market, Pilgrim's Pride Corp., the nation's largest chicken processor, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Texas on Dec. 1. The company was delisted by the New York Stock Exchange that same day. "Over the past year, Pilgrim's Pride has ges, faced a number of significant challenges, including high feed ingredient costs, an ricoversupply of chicken, weak market priciving and softening demand," said Clint Rivers, president and chief executive officer. "After careful consideration of all available alternatives, the company's board of directors determined that a Chapter 11 filing was a necessary and prudent step and the best way to obtain the financing necessary to maintain regu-lar operations and allow for successful rehis structuring. We expect to emerge from this Continued on Page 18 817 709 2006-07 2004-05 Shaking out the side effects 798 2005-06 980 870 Source: U.S. Department of Agriculture Production recovers from 2007 freeze damage. MSG and potassium chloride may bring their own challenges when replacing sodium chloride W hen reducing sodium content in foods, formulators should remember the replacement ingredients may bring along their own issues. Consumers may view monosodium glutamate (MSG) as not natural. Also, potassium chloride may have a metallic taste, and sodium phosphate has sodium in it. Consumer advertisements this fall from The Campbell Soup Co., Camden, N.J., and the Progresso brand of General Mills, Inc., Minneapolis, stressed how leaving MSG out of a reduced-sodium soup may give it a cleaner label. Both companies are seeking to take MSG out of many of their soup varieties. The Glutamate Association, Washington, fired back, saying MSG may allow food formulators to reduce sodium content in foods by 30% to 40%. "Research conducted over the past Continued on Page 31

Table of Contents for the Digital Edition of Food Business News - Dec 09, 2008


Food Business News - Dec 09, 2008