Exclusive outtakes from industry leaders
Hormel, like the rest of the packaged foods industry, is seeing a boon as cash-strapped consumers try to save money by eating at home.
As the economic downturn hits consumer pocketbooks around the globe, the packaged foods industry is seeing a surge in demand as consumers try to save money by skipping restaurants and eating at home. Ruben Ramirez reports from Austin, Minnesota.
Ruben Ramirez, Reuters, Austin, Minnesota.
SOUNDBITE: Jeff Ettinger, CEO, Hormel Brian Buhr, Department Head, Applied Economics, University of Minnesota,
from LEGACY Reuters Summits:
This week we've got a double dose of stories for you with both the Food Summit taking place in Chicago and the Funds Summit kicking off Tuesday in Luxembourg. Both summits come at a time when both sectors are in the spotlight. For food, one key question will be: How will cash-strapped consumers spend their hard earned cash if the current economic environment continues to deteriorate. We spent last week putting together a few stories ahead of the Food and Agriculture Summit.
Hormel shines as consumers eat at home:
From pasture to plate: The beef industry sees a double whammy as production prices go on a roller coaster ride and consumer demand sags.