Summit Notebook

Exclusive outtakes from industry leaders

Audio – Chicken and oil

March 18, 2008

sanderson1.jpgNo, it’s not a new recipe (although fried chicken is always a welcome addition to almost any event we’ve ever attended).

As prices for commodities and other ingredients have been much on the minds of most of the guests this week at the Reuters Food Summit, chicken and prepared foods producer Sanderson Farms said pricing of chicken was something that was very clear for investors and suppliers alike.

Joe Sanderson, chairman and chief executive of the company founded by his family in 1947, said prices were high, but it wasn’t something that he could spend a lot of time worrying about.

He also said he believed that demand for chicken both inside and outside the United States remained firm. Mr. Sanderson┬áseemed a pretty unflappable executive — and what’s more, he and his family have been in the chicken business for a long time and the rising costs of corn or other commodities or other blips in pricing didn’t appear to do too much to throw him off his stride.

Mr. Sanderson was one of the featured guests at this year’s Food Summit, held in Chicago at our offices overlooking a slightly less green river than we saw on Monday.

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