Milling & Baking News - March 18, 2014 - 10

Late News 

WEEK OF MARCH 18

Continued from Page 1

year, General Mills forecast
"strong double-digit growth" in
fourth-quarter earnings "when
the expected rate of input cost
inflation, the quarterly tax rate,
and the average number of
shares outstanding will each be
well below prior-year levels."

A panel of soft wheat
millers meeting on
Marco Island, Fla.,
forecast this year's soft
red winter wheat crop at
437 million bus, down
23% from 565 million
bus in 2013. Production
was forecast lower in all
principal regions because
of lower acreage and
a return to trend line
yields at the best.

Pastry Crisps make I.R.I.
Pacesetters list
CHICAGO - Kellogg's Special
K Pastry Crisps, Tostitos Cantina tortilla chips and Kellogg's
Special K Flatbread Breakfast
Sandwiches were among the
top 10 New Product Pacesetters
tracked by Information Resources, Inc. in 2013. Each of the three
products had at least $75 million
in year one sales, led by Kellogg's Special K Pastry Crisps
with sales
of
$100.6
million. "Innovation in 2013 is all about healthier-for-you products," said Susan Viamari, editor, Thought
Leadership, I.R.I. "'Healthy' is
truly everywhere. From food
and beverages to hair care, skin
care, and even pet food and
cleaning products, consumers
not only want to look and feel
their best, but they want improved wellness to extend to
their homes and pets, too." Several grain-based foods products
also made I.R.I.'s list of Rising
Stars, including Pizzeria! from
DiGiorno, Kellogg's Pop-Tarts
Gone Nutty! and Old El Paso
Meals for Two.

Trade issues over
bioengineered crops rise

sales@mennel.com
www.mennel.com

10 / March 18, 2014 Milling & Baking News

ROME - Seventy-five countries
that responded to a survey from
the Food and Agriculture Organization of the United Nations
reported 198 incidents of low levels of bioengineered crops mixed
into non-bioengineered crops
between 2002 and 2012. Of those
incidents, 138 were reported between 2009 and 2012. Shipments
with low levels of bioengineered

crops, also known as genetically modified crops, originated
mainly from the United States,
Canada and China although other countries accidentally shipped
such crops. The highest number
of incidents involved linseed, rice
and papaya.

Net income jumps
at Krispy Kreme
WINSTON-SALEM, N.C. -
Net income for Krispy Kreme
Doughnuts, Inc. in the fiscal year
ended Feb. 2 was $34,256,000,
or 51c per share on the common stock, which compared to
$20,779,000, or 31c per share,
in the previous fiscal year, the
chain said March 12. Net income
in the recently completed fiscal year reflects credits totaling
$10.3 million, or 14c per share, in
income tax expense. Revenues
in the fiscal year increased 8% to
$460,331,000 from $435,843,000.
Company same-store sales rose
6.7%, marking the fifth consecutive annual increase. In the current fiscal year, Krispy Kreme's
management expects adjust net
income will be in the range of
$51 million to $55 million and
adjusted e.p.s. will range from
73c to 79c per share based on
a forecasted 70 million diluted
shares outstanding.

Corn growers group
c.e.o. to retire
ST. LOUIS - Rick Tolman has
given notice that he will step
down as chief executive officer
of the National Corn Growers
Association at the end of September. He has been c.e.o. of
the association since 2000, and
earlier he was executive director of the U.S. Grains Council
for nine years. "Rick has been a
tireless advocate for corn farmers and our organization," said
Martin Barbre, president of the
N.C.G.A. "However, Rick told
us - as much as he loves representing our way of life - he
is ready to enjoy more time with
his wife, Linda, and their five
children and eight grandchildren, and other pursuits." MBN
bakingbusiness.com / world-grain.com

http://www.mennel.com http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - March 18, 2014

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