Food Business News - Nov 23, 2010 - (Page 1)

November 23, 2010 FOODBUSINESS NEWS NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY Survey: Few shoppers check for HFCS on labels KANSAS CITY - Among primary grocery shoppers who read labels on food and beverage products, 3.7% look for high-fructose corn syrup, a small fraction of those who look for sugar, according to results of a survey prepared by The MSR Group for the Corn Refiners Association. Sara Martens, vice-president of The MSR Group, a market research company in Omaha, gave results of the survey during a webinar at Nov. 17. Ms. Martens said the survey involved 1,610 primary grocery shoppers contacted in July. The margin of error was plus or minus 4.76%. Of the 1,610 shoppers, 65.1% read Continued on Page 10 the market Story on Page 46 INSIDE Dean Foods third-quarter results 'disappointing' result DALLAS - Credit Suisse analyst Robert Moskow downgraded Dean Foods Co.'s rating to "underperform" from "neutral" following the release of Dean's third-quarter financial results that the company's top executive deemed "disappointing." Net income in the third quarter ended Sept. 30 totaled $24,296,000, equal to 13c per share on the common stock, down from income of $49,653,000, or 28c per share, during the same quarter Continued on Page 39 Food prices slowly following ingredient values higher Most commodity prices highest since 2008, and highly volatile KANSAS CITY - The cost of a "classic" Thanksgiving dinner for 10 rose 1.3% from 2009, but it was 2.6% below the 2008 record high, reminiscent of ingredient prices overall, many of which have risen sharply in recent months but remain well below 2008 levels when most commodities set record highs. The dinner survey, conducted annually since 1986 by the American Farm Bureau Federation, closely tracked the group's 2010 quarterly market basket food surveys and the Commodity Price Index, the A.F.B.F. said. It indicated higher prices this year for milk, cream, rolls, carrots, celery, pumpkin pie mix, pie shells and sweet potatoes. In addition, the survey's "miscellaneous" category, which lumps together several items needed to complete the dinner such as eggs, sugar, flour, butter and coffee was up 29% from a year ago, the largest increase of all the items included in this year's survey. On a broader scale, a comparison of current commodity and ingredient prices with those of 2008 may indicate food prices are heading higher, although somewhat held in check by the slow economic recovery. On a global basis, the United Nation's Food and Agriculture Organization in its Continued on Page 30 http://www.foodbusiness

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Food Business News - Nov 23, 2010