Food Business News - Oct 26, 2010 - (Page 1)

October 26, 2010 FOODBUSINESS NEWS NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY Diet claims recede as marketing tools LAS VEGAS - The words "diet" and "dieting" are appearing less on the packaging of weight control products, said Tom Vierhile, director of product launch analytics for Datamonitor, the London-based research firm. "Portion control has become something that consumers have really adopted," he said during the presentation "Losing weight, gaining sales: New developments in weight management foods, drinks and supplements" on Oct. 20 at the SupplySide West trade show in Las Vegas. People are trying to eat in smaller portions instead of going on special diets, Mr. Vierhile said. He cited International Food Information Council survey Continued on Page 10 Story on Page 18 INSIDE Accu Acculturation offers unique challenges uniqu ROSEMONT, ILL. - As Hispanic consumers become more acculturated in the United States their consumption of dairy products decreases, according to a study published by the Innovation Center for U.S. Dairy. Less acculturated Hispanics consume almost 50% more milk, cheese and yogurt than the most acculturated segment of Hispanic consumers. The gap in consumption is being viewed as an opportunity Continued on Page 38 Smaller corn crop estimate pushes feed, food prices higher Corn prices back off highs but still nearly 50% above year-ago levels KANSAS CITY - U.S. corn went from a record large supply to a market-leading, tight supply in just a couple of weeks after 2010 production estimates were cut sharply earlier in October. The impact on demand as well as on feed and food prices is just now coming to light. While anecdotal harvest reports in late September had the trade expecting lower corn yields from earlier forecasts, the U.S. Department of Agriculture in its Oct. 8 Crop Production report unexpectedly slashed its 2010 corn production and yield estimates by 4% from September, to 12,664 million bus and 155.8 bus an acre, respectively, from 13,160 million bus and 162.5 bus an acre and compared with record highs of 13,110 million bus and 164.7 bus an acre in 2009. At the same time, the U.S.D.A. in its Oct. 8 World Agricultural Supply and Demand Estimates lowered its projected carryover of corn on Sept. 1, 2011, by 19% from September, to 902 million bus, the smallest since 1996-97, and raised its projected 2010-11 price paid to farmers by 60c, to a range of $4.60@5.50 a bu compared with $3.55 a bu in 2009-10. The much-watched corn ending stocksto-use ratio sank to a historically low 6.7% Continued on Page 27

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Food Business News - Oct 26, 2010