Officials of Orrville-based jelly and jam maker Smuckers outlined what the company expects in 2013 in a presentation Wednesday at the 2012 Barclays Capital Back to School Consumer Conference.
Chief Financial Officer Mark Belgya said Smuckers is waiting to see what impact the drought will have on its line of food products.
"The impact of the drought this summer, obviously it's still early and the full impact is not known. But for us soybean oil, wheat, corn syrup and milk are the four commodities that are most likely to be impacted by this situation," said Belgya.
Belgya said coffee and peanut butter prices which spiked higher early this year are now coming down due to competition. " As we went into back-to-school we knew we had to be at a certain price versus two major brands and we've been able to achieve that."
He said Smuckers is projecting a seven-percent increase in sales from its various food divisions in 2013.
Belgya said the company is also in the process of making the move from it's old plant to a new plant in Orrville, a process expected to take at least a year.