Food Business News - Nov 24, 2009 - (Page 1)

November 24, 2009 FOODBUSINESS NEWS NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY DUSTRY Nestle chairman weighs in on reducing food insecurity MILAN, ITALY - If reducing global food insecurity is to be achieved, it will require a bold approach that includes action and measures that actually change expectations, said Peter Brabeck-Letmathe, chairman of Vevey, Switzerland-based Nestle S.A. Mr. Brabeck-Letmathe spoke Nov. 12 and 13 in Milan at the Private Sector Forum held in advance of the World Food Summit hosted by the United Nations Food and Agriculture Organization. The private sector, rather than government or other agencies, will play the central role in alleviating food insecurity, Mr. Brabeck-Letmathe said. He took advantage of the forum to censure Continued on Page 15 Story on Page 25 Thanksgiving dinner cost drops 4% from 2008 KANSAS CITY - The cost of putting on a dinner for 10 dropped 4% from last year as the result of lower prices for turkey, rolls, vegetables, cranberries and dairy products, the American Farm Bureau Federation found in its annual survey of traditional Thanksgiving food items. But commodity forecasts from the U.S. Department of Agriculture indicate prices may resume their uptrend next year. The total cost of a classic home-cooked Thanksgiving dinner will be $42.91 this year, down $1.70 from $44.61 in 2008, which was the highest in the 24-year history of the A.F.B.F. survey. Last year's record reflected high values for several Continued on Page 22 Hershey/Ferrero may enter competition for Cadbury HERSHEY, PA. - Nine days after Kraft Foods Inc. issued a formal bid to acquire Cadbury P.L.C., The Hershey Co. and Ferrero International S.p.A. said they were reviewing their options with regard to a potential bid for Cadbury. Hershey issued a tersely worded noncommittal statement Nov. 18 in the wake of "recent press speculation regarding a potential offer for Cadbury." A number of news articles had suggested Hershey may team up with Ferrero and bid for Cadbury. Ferrero, based in Alba, Italy, also acknowledged interest. "Ferrero confirms it is in the preliminary stages of evaluating its options in respect of Cadbury's," the Italian company said Nov. 18. The Hershey statement followed Kraft's Continued on Page 10

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Food Business News - Nov 24, 2009