US: Tyson expects decline of US protein supplies to continue
Tyson Foods COO Jim Lochner has predicted a continued decline in the amount of protein available to US consumers for the foreseeable future.
Lochner made his remarks at the Bank of America Merrill Lynch 2012 Global Agriculture Conference yesterday (1 March).
"We are operating in a different world than we were a few years ago," Lochner said. "After decades of steady growth, US per capita consumption of protein declined 11% from the peak in 2006, a trend that is likely to continue."
However, he added: "Tyson has a broad portfolio of products that can help our customers grow. We don't just sell meat in a box. We provide innovation and food solutions to our customers and consumers, and that is what differentiates us from our competitors."
Also yesterday, the US meat giant announced a "multi-million dollar" investment to improve operations at its beef plant in Nebraska.
- M&A Watch: Why Danone/Lifeway deal could be next
- Focus: The impact of Heinz's stevia ketchup
- Focus: Gen Mills turns to M&A to bolster US ops
- Shopper trends: Some confidence but promos popular
- Viewpoint: US health food in play - at a price
- Burton's "eyeing" United Biscuits merger
- Premier Foods revamp creates three divisions
- General Mills Q1 profits tumble
- Unilever to boost presence in Nigeria
- WhiteWave to buy dairy-free firm So Delicious