Food Business News - Dec 23, 2008 - (Page 1)

FoodBusinessNews ® December 23, 2008 NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY Waning demand pressures corn prices V Vilsack ttapped to llead U.S.D.A. Shaky economy adds uncertainty for 2009 20 Consumer purchasing patterns changing 3 33 Sports nutrition: Innovation in motion 39 MARKET WATCH Crude oil futures KANSAS CITY - The 2009 outlook for corn includes a weak demand picture, a great amount of uncertainty about supply and a much different scenario from a year ago when prices were advancing amid tight stocks and a weak dollar that made it a bargain to foreign buyers. "Next year will be nearly opposite 2008 with highs later in the year," said Dan Basse, market research manager for Ag Resource Consulting Group, Chicago. He expects corn prices will average $4.20 a bu next year, but with a peak after fall harvest rather than in the first half of the year as in 2008. Nearby corn futures prices at the Chicago Board of Trade closed at a record high $7.54½ a bu on June 27, only to drop more than 60% to a recent Continued on Page 25 per barrel $150 $120 $90 $60 $30 June July Aug. Sept. Oct. Nov. Dec. 2008 Prices have tumbled 76% since July to four-year lows. Make way for stevia The Coca-Cola Co. and PepsiCo, Inc. both introduced beverages featuring natural, zero-calorie sweeteners Dec. 17. The product launches directly were related to a U.S. Food and Drug Administration ruling made the same day. The F.D.A. said it had no questions about two petitions regarding the safety of using Rebaudioside A, an extract from the stevia plant, in foods and beverages. Atlanta-based Coca-Cola North America introduced Sprite Green sweetened with Truvia, which features Rebaudioside A, or rebiana. "Sprite Green, the new reduced-calorie Sprite line extension, is the first of what the company expects will be many new, naturally sweetened, reduced-, low- and zerocalorie beverages sweetened with Truvia natural sweetener in the future," Coca-Cola North America said. Odwalla, Inc., based in Half Moon Bay, Calif., and owned by Coca-Cola, launched Odwalla Mojito Mambo and Pomegranate Strawberry natural juice drinks sweetened with Truvia. PepsiCo, Inc., Purchase, N.Y., introduced Continued on Page 22

Table of Contents for the Digital Edition of Food Business News - Dec 23, 2008


Food Business News - Dec 23, 2008