CAGNY 2012: Food giants reflect on trading challenges
General Mills, Kraft Foods and PepsiCo are among the food manufacturers facing Wall Street analysts at the annual CAGNY conference in Florida this week.
ConAgra Foods CEO Gary Rodkin has warned that the pressure on volume sales in the US is being felt across the industry.
CAGNY, the annual industry investment conference in the US, was once again full of debate on the challenges and opportunities that the global food sector is confronting and exploiting.
PepsiCo will ramp up the money it spends on advertising and marketing snacks worldwide by 20% this year.
Heinz chief executive Bill Johnson has suggested the US food giant would be interesting in buying any assets that could emerge if Pfizer's infant nutrition unit is sold.
Kellogg chief John Bryant has insisted the US cereal giant can grow its core business in its domestic market after a challenging year.
The acquisition of Pringles can help Kellogg build its cereal business in more emerging markets, the US company has claimed.
Infant nutrition company Mead Johnson has reiterated it expects to see "strong growth" in 2012, despite challenges that look set to hinder the group's performance in North America and Europe.
ConAgra Foods is set to launch a frozen Greek yoghurt in the US to tap into growing demand for the product in the chilled aisle.
Archer Daniels Midland chairman and CEO Patricia Woertz has claimed the US agribusiness giant's decision to cut over 1,000 jobs worldwide will create a more "creative" organisation.
Campbell Soup Co. CEO Denise Morrison has claimed the food industry has been slow to respond to a seismic shift in consumer attitudes and consumption patterns.
US peanut butter maker JM Smucker has revealed that it is planning to branch out into speciality nut butters, with two significant product launches planned for the category.
JM Smucker has said it will focus on reinforcing the value of its brands to respond to the pressure on consumer spending in the US, which has hit volumes within its consumer foods business.
Kraft Foods has insisted it will be able to drive continued strong growth in its "power brands" and grow its market share in developed markets like the US.
General Mills has insisted it is "confident" it can drive growth from its US business in the long term in spite of "disappointing" sales volumes in the market during December and January.
In a week that saw Kellogg grab the headlines for its decision to move for snacks brand Pringles, an announcement made on Friday afternoon UK time perhaps had wider significance for the food sector.
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