CFTC to launch investigation
The Commodity Futures Trading Commission (CFTC) will investigate the role of investment funds in agriculture commodity markets, the Wall Street Journal reported. Earlier this month, the commission made a rare formal announcement of an investigation into energy futures. A similar formal announcement is expected regarding the agriculture commodity investigation. In related news, the CFTC announced it will require investors and index funds to disclose more information about their holdings in agricultural markets after farmers and lawmakers alleged speculators had inflated food prices. “We want to make sure markets are functioning correctly,” said acting Chairman Walter Lukken. “We want to encourage access to markets, but we want to be sure too much money isn't distorting markets artificially.”
Caravan Ingredients, Lenexa, Kan., teamed with the March of Dimes to raise money for the March for Babies. The March of Dimes and Caravan Ingredients share a commonality: folic acid. March of Dimes' mission includes promoting the health benefits of folic acid in a healthy diet. Folic acid helps reduce the life-long effects of neural tube defects, such as spina-bifida in premature babies. Caravan Ingredients supplies folic acid to the grain industry worldwide. This year marked the 10th anniversary of the FDA's fortification mandate. Caravan Ingredients' employees raised nearly $5,000 to benefit the March of Dimes.
Food Process Automation Inc., Grand Rapids, Mich., relocated its corporate headquarters and manufacturing from a 20,000-sq.-ft. facility to a 50,000-sq.-ft. building in Grand Rapids' Oak Industrial Park. The company's growth in sales, engineering and development necessitated the move to a larger facility. The new building features a test lab for customer trials, a manufacturing area more than double in size and improved office space. FPA President Bill Grutter said, “The additional space will allow us to continue to grow our company with an increased focus on product innovation. It will also enable us to manufacture and ship our equipment faster and more efficiently to better support our growing number of customers.”
The Long Co., Chicago, expanded its in-house lab, doubling it in size, in order to better serve current members and non-members on a variety of bakery food needs. The main function of the lab is product scoring. In addition, the company honors a bakery each year for the best bread and best bun. The sought-after award is based on the average of 12 months of scores. To participate, the member bakery must send in product each month. Past winners are listed on the Web site at www.thelongco.com/breadandbunwinners_annual.htm.
Cognis Nutrition and Health, LaGrange, Ill., announced the first price increase in more than six years for its natural-source vitamin E and natural plant sterol products, effective in June for its North American customers. “The rapid escalation in raw material costs plus the steady increase in energy, transportation and packaging costs have reached a point where we can no longer maintain current prices,” said Dave Eckert, vice president, North America.
BakeMark USA LLC, Pica Rivera, Calif., will take over distributing donut mixes, other ingredients and supplies to Krispy Kreme Doughnuts Inc. facilities west of the Mississippi River. Krispy Kreme will not renew the lease for its California distribution center and will vacate it by Aug. 31, The Business Journal reports.
The Institute of Packaging recognized Crown Holdings Inc., Philadelphia, Pa., with seven Starpack Awards. Crown Food Europe won two gold awards in the technical development and consumer products categories and a special award for consumer convenience. Crown Specialty Packaging won one gold award in best food design, and bronze awards for best food design and best brand design. Crown Aerosols Europe won a silver award for best brand design.
Reprints and Licensing
© 2013 Penton Media Inc.
Acceptable Use Policy blog comments powered by Disqus