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go into packaged foods. Among the many expenses food makers such as Kellogg Co. and Kraft Foods Inc. also have to foot: packaging material, labor, advertising and fuel for trucks to get their products in stores.
• Based even on today's high corn prices, a 12-ounce box of cornflakes would have only about 8 cents worth of corn, says Paul Bertels, vice president of production and utilization at the National Corn Growers Association. That's a very small portion of the $4 or so that consumers might pay for that box of cereal.
• "When you look at final food products, the more processing there is, the less significant the price of the raw materials," Bertels says. "A lot of it is advertising and marketing."
• Food makers also have other ways of managing their costs, such as cutting back on how much they put in a package. Even before the drought, PepsiCo Inc. says earlier this year that it put fewer chips in its Frito-Lay bags as a way to offset higher ingredient costs.
• And for consumers watching their budgets, a few less chips per bag might be preferable to paying more anyway.
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Sioux Falls, businesses ink events center deal
• SIOUX FALLS, S.D. (AP) -- Several of Sioux Falls' biggest businesses have partnered to be corporate sponsors of the new events center in Sioux Falls.
• The City of Sioux Falls announced Wednesday that First Premier Bank, Premier
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