Food Business News - August 27, 2013 - (Page 1)

August 27, 2013 FOODBUSINESS NEWS NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY Smucker upbeat after strong first quarter ORRVILLE, OHIO — Net income of The J.M. Smucker Co. in the first quarter ended July 31 was $126.6 million, equal to $1.19 per share on the common stock, up 14% from $110.9 million, or $1 per share, in the same quarter in 2012. Net sales were $1,350.9 million, down 1%. Excluding special items, such as restructuring, merger and integration costs, and other special project costs, income was up 2%. Richard K. Smucker, chief executive officer, cast the results in a positive light. “There is clearly momentum across our business as we experienced our strongest first-quarter earnings ever,” he Continued on Page 28 Campbell seeks boost for beverage business Story on Page 41 Sports drink evolution one are the days that “sports drink” was synonymous with isotonic or when a post-workout refreshment was a cold brew. For some, these definitions remain, but for a growing number of consumers, sports drinks are all about providing energy, improving performance and building lean muscle. “As a result of the rapid evolution — if not revolution — of the sports drink market, both consumers and perhaps even marketers may appropriately wonder ‘what makes a sports drink a sports drink,’” said David Sprinkle, research director at market research firm Packaged Facts, Rockville, Md., which recently published the comprehensive Continued on Page 45 G Weather challenges pose late threat to fall crops he U.S. Department of Agriculture on Aug. 12 forecast the largest corn crop ever for the United States as well as the third largest soybean crop ever. Those forecasts seem likely to be fulfilled with only a few weeks left in the growing season, and the corn harvest T well under way in southern states. But weather challenges have sent corn and soybean futures prices higher the past two weeks on ideas the return of hot, dry weather may trim final yields. Most expected a strong rebound from last year’s drought-reduced fall crops, especially corn, but the season began with and appears to be ending with some weather challenges. At the start of the season, cool, wet weather delayed planting, and crops have progressed at a slower-than-average pace all summer. Since 43% of the corn crop was planted in a single week during May, which tied a record for planting progress in a week, observers worried that the bulk of the crop would be pollinating during the hottest time of the summer. But that “bullet” was dodged when unseasonably cool, wet Continued on Page 32 ®

Table of Contents for the Digital Edition of Food Business News - August 27, 2013

Food Business News - August 27, 2013
Smucker upbeat after strong first quarter
Sports drink evolution
Weather challenges pose late threat to fall crops
Table of Contents
Web Contents
Editorial - F.D.A. clearing the way for medical food advances
Heinz cutting 600 office jobs in United States, Canada
Gallup: Who reads nutrition labels?
Dole c.e.o. to take company private
Taylor Farms suspends Mexican operations in wake of Cyclospora outbreak
Adult obesity rates leveling, but still high
Smucker acquires ancient grain supplier
Diamond Foods details proposed settlement in class action lawsuit
PepsiCo c.e.o. for Asia, Middle East and Africa dies
Hillshire learns red means go
McCain expanding Idaho potato processing plant
Sargento approves c.e.o. succession
Nestle seeks to fatten Jenny Craig, Lean Cuisine profits
Mondelez chews on challenges in ailing gum business
Pinnacle sees salad days ahead with Wish-Bone
Allergens remain leading food recall trigger
Wal-Mart’s fresh produce plan paying off
Analysis cites conflict of interest in GRAS panels
Bob Evans to ‘Express’ itself with new product offerings
F.D.A. approves natural source as blue color in candy, gum
Washington - Congress will have to pass a farm bill
Clean Label - Clean label concerns
Clean label conference slated for October
Ingredient Innovations - Gut feelings
Company profile - Campbell seeks boost for beverage business
Bolthouse provides ‘healthy’ spark
New Food Products
Ingredient Market Trends - Canada expects record canola crop and larger wheat and oat crops
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - August 27, 2013