Culinology - March 2012 - (Page 38)

COMMODITY OUTLOOK There is a good news and bad news scenario emerging regarding food and beverage input costs. The good news is many commodities are retreating or have retreated from record highs that have been set in the past few years. The bad news is the retreat has been slight and input costs remain high compared to historical averages. In early February, more than 400 industry executives attended the International Sweetener Colloquium in Orlando, Fla., and heard a common theme that the US sweetener market greatly but uncomfortably depends on Mexican sugar to offset a perennial domestic shortfall. But this year also brought a couple new themes to the meeting, including a possible dip in domestic sugar use, weaker sugar prices for the next two years and a slight uptick in US use of high-fructose corn syrup. Most of the news was good at the meeting, which was attended predominately by sugar users. It was the first time in about five years that participants heard the word “lower” in front of prices for sugar. That trend had been evident well before the Colloquium in forward sales for 2013 in the 42 cents to 45 cents a pound freight on board Midwest range and in pricing for 2014 in the 35-cents– to-40-cents-per-pound range. For users, those levels compare favorably with most sales in 2011-12 (fiscal 2012) that were around 55 cents per pound and with values that averaged about 57 cents a pound in 2010-11 and a record high 57 cents in 2009-10. One speaker at the Colloquium even suggested prices may dip below 30 cents a pound in 2014, although there were few believers in that level. At the Agricultural Outlook Forum 2012, held in late February in Washington, DC, the US Department of Agriculture (USDA) projected refined sugar prices through 2021-22 that ranged from a low 38 | Culinology | MARCH 2012

Table of Contents for the Digital Edition of Culinology - March 2012

Culinology - March 2012
Table of Contents
President's Letter - Preparing for a brighter economic future
Upcoming Events
EmergingTrends - Trendy Fats
Emerging Trends - Hispanic culture affecting breakfast, dinner trends
Member Profile - Garden of Eaten
Consumer Trends - The power of perception
Dairy Trends - Dairy ingredient innovation
Flavor Trends - Emerging flavor profiles
Commodity Outlook - Input costs outlook
Packaging - Improving product integrity
Petits Fours
Ad Index

Culinology - March 2012