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Milling & Baking News - 2012-01-10
Milling & Baking News - 2012-01-10
bakingbusiness.com / foodbusinessnews.net
JANUARY 10, 2012
LATE NEWS
Continued on Page 21
CEDAR RAPIDS, IOWA Cargill
said it will invest approximately $20
million this summer to modernize
its soybean crushing plant on the
east side of Cedar Rapids. The
company said it may invest up to an
additional $40 million in the facility
over the next several years if needed.
Along with the announcement,
Cargill said industry overcapacity
in soymeal production is prompting
the company to close its Des Moines,
Iowa, crush plant on Feb. 4. Cargill
indicated it will continue some
business activities at the Des Moines
site, and it will continue to purchase
Cargill investing in
Iowa soybean plant
Ending at record high, grain-based
shares beat broader market in 11
NEW YORK Shares of grain-based
foods companies scored solid advances
in 2011, with gains easily outpacing
major market indices. The Grain-Based
Foods Share Index closed at the highest
year-end level ever, 12154.32, up 7.5%
for the year.
The 7.5% advance compared with a
5.5% gain for the Dow Jones average
of industrial shares, which ended at
12,217.56. The S.&P.500 ended the year at
1,257.60, three one-thousandths of a per
cent beneath the 2010 close. The NASDAQ
exchange performed still worse, closing
with a decline of 1.8%, at 2,605.15.
While ending at an all-time high, the
2011 performance of the Grain-Based
Foods Share Index was less impressive
by a number of other measures. The
7.5% gain was the worst showing in
three years, eclipsed by the 9% advance
by the index in 2010 and the 13.2%
jump in 2009. The advance fell short
of the 10.5% jump in the Consumer
Staples sector shares within the
S.&P.500, meaning grain-based foods
DONUT UPDATE
Investing dollars
for donuts
Story on Page 33
Public offering of Dunkin
Brands highlights successful year
for donut chains
Continued on Page 8
Hard winter wheat does well
through winters early days
Marking nine
decades in
partnership with
grain-based foods
STOCK MARKET REVIEW
cover affected wheat condition ratings
in South Dakota and Montana.
At the end of December Kansas wheat
condition was rated 53% good to excellent
(47% a month earlier), 38% fair and 9%
poor to very poor.
Above average temperatures and
benecial moisture in most areas helped to
see the winter wheat through December,
said Kansas Agricultural Statistics.
Most areas of Kansas received moisture
during December with 34 of the 52
Continued on Page 10
KANSAS CITY The hard winter
wheat crop fared well in December
in most states. Hard winter wheat
condition ratings in Kansas and
Oklahoma at the end of December
improved from a month earlier while
winter wheat ratings across Texas
and Nebraska were mostly stable
and northern Plains wheat condition
slipped. The grip of drought across
the southern Plains was loosening, but
much more moisture was needed. Drier-
than-normal weather and a lack of snow
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CUT T I NG E DGE T E CHNOL OGY AND T HE AR T OF OL D WOR L D B AK I NG
Sours | Dough I mprovers | Bases, Mi xes and Concent rat es | Grai n Bl ends | Speci al t y Product s
1900 S. Park Ave. | Streamwood, IL 60107 | Toll Free (888) 276-5483 (630) 830-0340 | Fax (630) 830-0356 | www.bakewithbrolite.com
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Todays consumers look for healthy, whole grain breads
loaded with character, ber, texture, and taste. Five to
fteen varieties of grains and seeds can be incorporated into
one Perfect Blend, simplifying scaling and inventories.
4 / January 10, 2012 Milling & Baking News bakingbusiness.com / world-grain.com
Ending at record high,
grain-based shares beat
broader market in 11
Story on Page 21
Contents January 10, 2012 Vol. 90, No. 23
ADM in joint venture
to operate elevator
ADM-Benson Quinn and United Farmers Coop
form a joint venture, United Grain Systems,
L.L.C., that will build and operate a grain
elevator in Brownton, Minn.
After MF Global collapse,
hearing looks at safeguards
The chief executive offcer of R.J. OBrien &
Associates says confdence in the commodity
markets system must be restored after the MF
Global bankruptcy.
Milling operating rates
mostly hold steady
Flour milling capacity utilization data from
the North American Millers Association mostly
are consistent from fgures based on the Census
Bureau.
Rich Products unveils new
governance structure
Rich Products Corp. will transition to one
organization consisting of fve regional units:
U.S./Canada, Asia/Pacifc, Latin America,
Europe/Middle East and South Africa.
Good grains to be
bakerys top 2012 trend
Good grains, including ancient grains, will be
the leading driver of innovation in the bakery
sector in 2012, according to New Nutrition
Business.
Welcome start to
2012 in nding
about calories role
NEWS Comment
7 Editorial
10 Business
13, 32 People
14 Washington
18 Data
34 Industry Activities
36 Nutrition and Health
37 Ingredient Week Trends
45 Supplier Innovations
50 Archive
12
14
18
32
36
DEPARTMENTS
A
nother donut store chain
dipped into the stock market in
2011. Dunkin Brands Group,
Inc., the parent company of Dunkin
Donuts and Baskin-Robbins, on July
26 announced an initial public offering
of 22,250,000 shares of its common
stock at a price of $19 per share on
The NASDAQ Global Select Market.
On Nov. 17 Dunkin Brands, Canton,
Mass., announced the offering by
certain of its stockholders of 22 million
shares of its common stock at a price
of $25.62 per share. On Jan. 3, 2012, the
price closed at $24.74 per share.
Both Dunkin Brands and Krispy
Kreme Doughnuts, Inc., based in
Winston-Salem, N.C., and another
publicly-traded company, had
positive nancial news in 2011 while
forecasting more chain expansion.
Dunkin Brands has a goal of more
than doubling the Dunkin Donuts
footprint in the United States to reach
15,000 locations over the next 20 years,
said Nigel Travis, chief executive
ofcer of Dunkin Brands.
Additionally, we announced last
month we have begun actively recruiting
franchises for markets in Texas,
Colorado, New Mexico, Oklahoma
and Nebraska, and the response so
far by interested candidates has been
very positive, he said during a Nov. 1
earnings conference call. Although we
dont expect new Dunkin restaurants to
open in any of these markets until early
2013, were focused on keeping our
development pipeline lled.
He said internationally Dunkin
Brands wants to improve its position
in existing markets such as Japan,
Korea and the Middle East.
Shares of Krispy Kreme Doughnuts
trade on the New York Stock Exchange.
The price, which closed at $6.52 per
share on Jan. 3, 2012, has stabilized
after trading as low as $2.56 per share
in the summer of 2010.
Krispy Kreme reported net income
of $4.7 million, or 7c per share, for the
third quarter ended Oct. 30, 2011, which
compared with $2.4 million, or 3c per
share, in the previous years third quarter.
Revenue increased 9% to $98.7 million
from $90.2 million in the previous years
third quarter. Same-store sales rose for
the 12th consecutive quarter.
Krispy Kreme had 678 stores on
Oct. 30, 2011, which was up from 649
stores on Oct. 31, 2010. International
expansion remains a goal.
Although our international
presence has increased dramatically
in the last few years to 448 locations
at the end of the quarter, we anticipate
achieving an international store base
approaching 900 stores by calendar
2016, said Jim Morgan, chief
executive ofcer.
Krispy Kreme Doughnuts, Inc. has
been active on the retail side as well.
Turning to our off-premises
channel, our glazed chocolate pie
and new dipped cake donuts are
now available in over 10,000 grocery
stores, convenience stores and mass
merchants, Mr. Morgan said. These
two items expand our off-premise
product assortment of signature yeast-
raised and cake donuts as well as
honey buns, mini crullers, fruit pies
and snack-sized donuts.
Krispy Kreme Doughnuts had
U.S. retail sales of $117,055,100 for
the 52-week period ended Nov. 27,
2011, which marked a 4% increase
from the previous 52-week period,
according to SymphonyIRI Group,
a Chicago-based market research
rm. Unit sales, however, were down
1.6% to 31,098,510. The sales covered
supermarkets, drug stores and mass
merchandise outlets, excluding Wal-
Mart Stores, Inc.
Overall U.S. retail sales in the donut
category rose 2.4% to $734,988,700 for
the 52-week period ended Nov. 27,
2011, according to SymphonyIRI. Unit
sales dipped 0.5% to 297,249,800.
Bimbo Bakeries USA led the
category with sales of $194,748,800,
up 0.6% from the previous 52-week
period. Unit sales dropped nearly
6% to 61,908,200. Hostess Brands,
Irving, Texas, was second with sales of
$165,156,600, up 0.1%, and unit sales
of 83,429,770, up about 4%.
Hostess Brands in 2011 introduced
frosted devils food cake donettes that
are dipped in a chocolate-avored
coating. They are available in grocery
stores and convenience stores nationally.
Tastykake donuts are appearing in
retail stores across a wider geographic
region since Flowers Foods, Inc.,
Thomasville, Ga., completed its
acquisition of Tasty Baking Co.
Flowers Foods in 2011 introduced
the Tastykake brand in Flowers core
markets in the Southeast.
I am pleased that our integration of
Tasty is progressing as scheduled and
meeting our expectations, George E.
Deese, chairman and chief executive
ofcer of Flowers Foods, said Nov. 10
when the company reported third-
quarter nancial results. During
the quarter, we rolled out Tastykake
products in our D.S.D. markets across the
Southeast, and we will continue moving
the brand into other Flowers markets.
More than 1 million Tastykake
donuts are produced daily. They
include mini donuts, assorted donuts
and donut holes. MBN
Jeff Gelski
Investing dollars for donuts
Public offering of Dunkin Brands highlights successful year for donut chains
34 / January 10, 2012 Milling & Baking News bakingbusiness.com / world-grain.com
Industry Activities
Whitney MacMillan says important
food policy decisions lie ahead
MINNEAPOLIS Policy makers face
a number of diffcult and important
decisions about food in the years
ahead, requiring extremely careful
choices, said Whitney MacMillan, the
retired chairman and chief executive
offcer of Cargill.
Make the right decisions, and
we can continue to feed a growing
world, he said. Make the
wrong choices, and a great
many people around the world
will feel the effects and they
wont be good.
Mr. MacMillan addressed
critical world food issues in
a recent speech at The Blake
School, the Minneapolis college
preparatory school he attended as a
student.
Setting the stage for his key points, Mr.
MacMillan said the world population is
expected to grow from 7 billion today to
10 billion, or even more, in the lifetime
of people in this room.
Every day we have another 200,000
more people to feed, most of them in
what we used to call the developing
world, he said. Somebody has to
produce the food a growing, hungry
world needs. And just as important,
someone has to generate the wealth
needed to enable those hungry people
to afford the food they need.
Over the past 30 years, the global
population has grown by 70%. Despite
great strides forward in productivity,
capacity for food production has
not kept pace with this population
growth, Mr. MacMillan said.
The balance between the food we
produce and the food we consume
remains razor thin, he said.
In addition to the projected
population growth, global income
levels may increase nearly threefold,
driven by economic growth in
Asia and other key economies
worldwide, Mr. MacMillan said. Food
consumption will double as a result of
the population and income growth.
With the higher incomes will come
increased demand for protein, which,
in turn, triggers attendant resource
issues associated with production of
chicken, pork, beef and milk.
To make things more complicated,
much of that growth will occur in
urban settings, Mr. MacMillan said.
But as they say, we arent making any
more land. Perhaps more noteworthy
is the fact that half the worlds farmers
today cant feed their own families. So
just saying let more people farm isnt
an option.
Emphasizing the need to optimize
use of agricultural resources, Mr.
MacMillan mentioned the role of food
in recent political unrest around the
world, including Egypt.
The link between food security
and political stability should be
obvious, Mr. MacMillan said.
But here in the richer countries
of the world, we can lose sight
of that simple fact. But we need
to understand that political
instability in places like the
Middle East and Africa can have
important consequences for us.
Looking at the present situation, Mr.
MacMillan warned of what he sees as
a formula for the price volatility that
has rocked the commodity world in
recent years.
He said he sees a real risk of rapid
and major increases in food costs and
a precarious balance between supply
and demand.
Mr. MacMillan offered a diverse
set of examples of trends that drive
food costs higher. He said the term
organic is often considered to mean
better because of the association
between the world with products that
are more pure and natural.
But (organic) also offers considerably
lower yields, and frankly, poses its own
food safety problems, he said.
Similarly, we see a lot of people
arguing against the use of improved
genetics, most notably in seed genetics,
Mr. MacMillan said. Some say it
somehow tampers with nature and leads
to that most evil of all things Franken-
foods. Anything that smacks of
intensive farming is automatically bad,
according to others. But how can anyone
object to a seed that increases yields and
income, requires no tillage, uses less
water, does not require pesticides nor
insecticides and uses less fertilizer?
I cant help but see this blind
opposition to scientifc progress as
something regrettable. I see a world with
serious challenges to food security but
hear a debate that sounds remarkably
like what Copernicus and Galileo must
have faced hundreds of years ago.
I dont mean to disparage the
views of genuinely concerned people.
Debate is healthy. But lets have debate,
not shrill nay-saying and denial of an
unpleasant reality.
Mr. MacMillan reminded the
audience of the need to fnd a way to
feed 10 billion people by 2050, while also
preserving natural resources. Success,
he said, will depend on the smart
use of exactly this kind of technology
around the world.
In contrast to approaches like
biotechnology that could help meet
world food demand in the years
ahead, Mr. MacMillan cited ethanol
as a favorite example of the
consequences of bad decision making.
The supposed promise of ethanol
was wonderful, Mr. MacMillan said,
including reduced dependence on
foreign oil, job creation, economic activity,
a cleaner environment and better health.
All that was required to bring
ethanol to life was an estimated $53
billion in federal subsidies by 2015,
Mr. MacMillan said.
He said substantial tax credits have
been offered for every gallon of ethanol
produced and mandated increase use
of ethanol in the U.S. gas supply.
Creation of policy like this places
ag companies in a no-win position,
which is why so many in the industry
have been reluctant to speak up, he
said. Years ago, many of us warned
against this policy, but we lost the
debate. And once such a far-reaching
program came into being, there was
no choice but to compete as best we
could. Some people cant grasp or
accept that it is essential to remain
competitive in order to survive in
agribusiness. But ask anyone in the
business or better yet, anyone
no longer in the business, of whom
there are many. Competitiveness is
essential.
But in the past year or so, theres
increasing evidence that more and
more people realize the true and far-
reaching consequences of what we
have done. More and more people
inside the agricultural community
have realized that bad ag policy is no
cure for bad energy policy.
Ethanol has gone center-stage
in the larger middle-class tax revolt
against questionable federal spending.
More and more people question
whether its smart to use so much of
one of our cornerstone commodities
corn for fuel.
Ethanol from corn has not been the
exclusive cause of food insecurity and
price volatility, and Mr. MacMillan
expressed the view ethanol does
have a place in a comprehensive U.S.
energy policy.
Its the reliance on corn as the
predominant source of raw material
MacMillan
bakingbusiness.com / world-grain.com Milling & Baking News January 10, 2012 / 35
that troubles me and so many others, he said. I hope to
see us move toward reliance on other stocks, just as Brazil
has done.
Still, he described as disingenuous claims ethanol
policy is not a factor in global food challenges worldwide.
He noted 40% of the U.S. corn crop currently is used for
ethanol. With this growth has come increasing political
clout from rural areas, the ethanol industry and related
lobbying groups.
Our ethanol predicament reminds me of the old
saying: The road to hell is paved with good intentions,
Mr. MacMillan said. I believe we need to keep that
thought front and center as we make policy choices. If we
make bad choices even with the best and most noble
of intentions the result will indeed be hell for a great
many people worldwide. MBN
Wheat Foods Council unveils
networking web site
RIDGWAY, COLO. The Wheat Foods Council has
launched a new web site, www.wheatfoods.org.
As we prepare to celebrate our 40th anniversary in 2012,
we are proud to announce the launch of the Wheat Foods
Council Network web site, said Judi Adams, president of
the W.F.C. With virtually thousands of web sites about
wheat and wheat foods, we wanted to create a place where
health and nutrition professionals, educators, culinarians,
the media, consumers,
and anyone else with an
interest in wheat foods,
can go for credible,
science-based health and
nutrition information.
According to the
W.F.C., the new web site
is constructed around the
concept of channels,
specifc nutrition practice
areas where visitors may
fnd focused content.
The channels are: Food
& Culinary, Nutrition Educators, Supermarket and Retail,
School Nutrition, Weight Management, Home Baking,
Wheats Up and In-Focus.
The Wheats Up channel will feature a lighter look at
what is in season, whether its a new industry initiative,
recipes, activity tips, or wheat food facts; while the In-Focus
channel will include a more in-depth look at a key issue
impacting the nutrition community.
We built this network to help people communicate
with one another, Ms. Adams said. She noted the W.F.C.
Network will offer news, videos, podcasts, webinars,
a regular e-letter, blogs, Tweets and other social media
options to make it easy for visitors to stay up-to-speed and
in touch with the various nutrition communities.
Additionally, the W.F.C. said it will use the web site
to gather visitors opinions on a range of issues, from
favorite wheat foods to the best ways to communicate
health messages to consumers. Volunteers from the
nutrition community are being asked to serve as network
correspondents and they will be sharing their personal
videos throughout the year on wheat and grains-related
nutrition issues and events. MBN
GEAPS
Grain Elevator and Processing Society
www.geaps.com
The Knowledge Resource for
the World of Grain Handling Industry Operations
For details on attending and exhibiting: visit www.geaps.com
Or contact us: info@geaps.com; (952) 928-4640
The 83rd Annual
International Technical Conference and Exposition of
the Grain Elevator and Processing Society
March 3-6, 2012
Minneapolis Convention Center
Minneapolis, Minnesota, USA
EXCHANGE
The Industrys Largest Expo
An Outstanding
Educational Program
PLUS... The Industrys Best
Networking Opportunities
Industry Activities
Archive
The joint venture bringing
together the flour milling op-
erations of CHS Cooperatives
and Cargill Inc. has been
finalized. Horizon Milling
L.L.C. will be the name of the
new venture.
Burford Corp.
recently an-
nounced that
Fred Springer
has been named
president of the
company.
The Food and Drug Admin-
istration has issued food se-
curity guidance for industry
to minimize the risk of the
nations food supply being
subjected to tampering or
criminal or terrorist actions.
Rogers Sugar Income Fund
will acquire Lantic Sugar
Ltd., a leading sugar refiner
in eastern Canada.
Archer Daniels Midland Co.
announced that it is closing
the ADM Milling Co. flour
mill in Des Moines, Iowa.
Members of the Kansas City
Board of Trade on Jan. 8
elected Gregory F. Edelblute,
vice-president of grain, Ce-
real Food Processors, Inc.,
Mission Woods, Kas., as the
exchange chairman for 2002.
Amos R. McMullian, chair-
man of the board and chief
exectuive officer of Flowers
at Peavey Company, has an-
nounced plans to retire from
active management July 31.
Dwayne O. Andreas, chair-
man and chief executive
officer of Archer Daniels
Midland Co., Decatur, Ill., has
been elected to the board of
Phibro Corp.
The board of directors of Amer-
ican Bakeries Co. has elected
four new members, including
Joseph V. McGinley, executive
vice-president of operations,
and Henry M. Yoos, newly-
named executive vice-presi-
dent, marketing and sales.
Garry A. Pis-
toria has been
named senior
vice-president
and director
of commodity
marketing for
the Grain Ter-
minal Associa-
tion, effective Feb. 1.
Avon Products Inc. has ac-
cepted for payment 4,839,012
shares of common stock of
Mallinckrodt, Inc., tendered
by Mallinckrodt shareholders
in an offer by AVP Holdings,
Inc., a subsidiary of Avon.
The transaction is part of the
merger agreement between
the two companies.
Harvey Owens, four broker of
Chicago, widely known in the
four and baking industries,
1982
Shawnee Milling Company
Shawnee Milling Company
P.O. Box 1567
Shawnee, OK 74802-1567
405-273-7000
Okeene Milling Company
P.O. Box 1000,
Okeene, OK 73763
580-822-4411
SHAWNEE FLOUR
Bakers, H & R
Food Service/Retail
Private Label
All Purpose
Self-Rising
Whole Wheat
Custom Mixes
OKEENE FLOUR
Bakers, Pastry, Whole Wheat
SHAWNEE CORN MEAL
White/Yellow
Meal, Flour, Cones, Coarse
Self Rising
sgarlow@shawneemilling.com
www.shawneemilling.com
Good Millers Since 1906
has been appointed a consul-
tant in the food supply brand
of the Offce of Production
Management.
Robert P. OBrien of Fort
Wayne, Ind., was named
vice-president,
commercial
feed division,
Pillsbury flour
Mills Co., Jan.
2, according to
an announce-
ment by Philip
W. Pillsbury,
president.
Emma A. Hagaman, 83, presi-
dent of the A. Hagaman and
Co. pie bakers, Albany, N.Y.,
died at her home on Jan. 6.
A dean of the milling indus-
try, Willis C. Helm, who is
vice-president
of the Russell-
Miller Milling
Co., Minneapo-
lis, is expected
to be elected
unanimously
for president
of the Millers
National Federation.
While consumers of the south
have been slow to start us-
ing enriched flour and bread,
they are now beginning to
evince keen interest.
A sharp cut in the price of
thiamine hydrochloride, or
vitamin B1, the principal in-
gredient in enriched four, was
announced last week by the
leading manufacturers. MBN
Springer
1942
Strenglis
Heffelnger
Pistoria
OBrien
Helm
ARTISTRY. Production of one of the
worlds most essential food-stuffs is more than simply an industrial operation. Bartlett
believes superior our milling starts with the skill of the craftsman and progresses
with the creativity of the artist.
Bartlett Milling, a division of Bartlett and Company, serves domestic and inter-
national markets, with mills producing a complete line of soft, hard and spring wheat
ours milled to your exacting specications. Put one of Bartletts master
millers to work for you.
Flour mills located in Statesville and Wilsons Mill, North Carolina and
Coffeyville, Kansas.
BARTLETT AND COMPANY
4900 Main, Suite 1200
Kansas City, Missouri 64112
(816) 753-6300
Its why our customers keep coming back.
In the whole grain sector alone, Bunge Milling has
introduced a number of products to help our customers
meet growing consumer demand. New products are in
development to ensure that when consumers ask, youll
have the competitive edge.
At Bunge Milling, we never forget how much we
appreciate your business.
THE SHORTEST DISTANCE FROM HARVEST TO MARKET.
Its not enough to keep
up with the competition.
We help you stay
ahead of the curve.
Saint Louis, Missouri 314-292-2000 www.bungenorthamerica.com