Tasty Tidbits

• Ocean Spray is planning to auction off its cranberry concentrates eBay-style. Its Ingredient Technology Group wants to avoid the speculation that has plagued the commodity markets.

• To wit, the G8 group of government ministers is looking at ways to curb speculation in the commodities market. Prices for oil, wheat and other vital products have shot up over the past year not because of demand, but due to hedge funds, retirement trusts, universities and other large capital-controlling entities taking speculative positions in commodities. The result has been a nightmare for the food industry in particular.

• The acquisition of George Weston Bakeries in the U.S. by Mexican baking giant Grupo Bimbo S.A.B (reported in Broad Street Licensing Group's subscription newsletter service when it happened) led to a tripling of the company’s reported sales this past quarter ($960MM vs. $360MM last year).

• Citing economics, Acme Markets is cancelling its home delivery service in favor of in-store pickup at 40 locations in Pennsylvania, New Jersey and Delaware.

• In the “drink and feel good about it” category, Modern Spirits claims producing each bottle of Tru vodka absorbs 760x more carbon than it emits. The secret? The company plants a tree for every bottle sold.

• Also on the alcoholic beverage front, Prime Star Group is bucking the recession and launching six new wines from Northern California’s coast.

• And finally, grocery retailer Giant Eagle is expanding into Columbus, OH with its Market District store concept that is upscale in focus, with gourmet sections, cooking demos, live music, themed events and a farmers’ market.

Excerpted from BSLG's weekly subscription news reader service Food Business News. To subscribe or for information about licensing, contact Broad Street Licensing Group (tel. 973-655-0598)