Many businesses have held back skyrocketing expenses from consumers, but they can only do that for so much longer. Read the full article here.
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High inflation, including rising gas prices, can disrupt the improving performance of restaurant tenants. Simmering demand from Americans who missed dining our during the pandemic boiled over in late 2021, resulting in more restaurant visits and increased consumer spending. But inflationary pressures could force consumers to economize, thereby jeopardizing the restaurant industry’s recovery and disrupting retail leasing momentum. Click here to read the full article.
Restaurants continued to increase their share of spending in April, reaching 54.9% of the food dollar, according to U.S. Census data released Tuesday. Click here to read the full update.
E S Foods announced today that it is acquiring assets of school foodservice company Notables. Based in Minneapolis, Minnesota, Notables is a producer of school meal kits – a specialty of E S Foods for over 15 years. Click here to read the full article.
Vegetable and fruit growers in the Carolinas aren’t having any trouble selling their produce, says Kevin Hardison, marketing representative for the North Carolina Department of Agriculture and liaison with the North Carolina Vegetable Growers Association. The hard part is putting all the pieces together to produce and ship the crops. Click here to read the full story from The Packer.
Inflation may be slowing just a bit, but food prices are on fire. Food prices were 9.4% higher in April 2022 than in April 2021 -- the largest annual increase in 41 years, the Bureau of Labor Statistics said Wednesday. Grocery prices jumped 10.8% for the year. (The prices do not reflect seasonal swings.) Click here to read the full article from CNN Business.
Everyone knows the world’s supply chain is a mess. COVID, climate change and now war is destroying the carefully planned networks of suppliers, shippers, distributors and manufacturers. Ingredients from locust bean gum to stevia to wheat are in perilously short supply. Click here to read the full article.
A lack of equipment, shipping space and containers resulted in Fresh Del Monte Produce losing the opportunity to ship around 1000 containers this year said the company’s CEO Mohammad Abu-Ghazaleh during the quarterly call with investors. Click here to read the full article.
As the foodservice industry tries to recover from lockdowns, restrictions, and consumer hesitancy, it’s plowing into inflation headwinds that may get worse before they get better.
“I expect inflation to last past 2023,” said Mathew Tate, director of strategic sourcing-produce for Aramark and Avendra Group, during a May 4 International Fresh Produce Association town hall webinar. Click here to read the full article. Tyson Foods is operating under heightened biosecurity measures to offset the risk of avian influenza (AI), including limiting the number of people and trips between farms and facilities, Tyson President and CEO Donnie King said in a post-earnings conference call.
USDA’s weekly Crop Progress report, the sixth of this year, on Monday showed that prolonged cold, wet weather in key farming states has significantly delayed planting of key corn and soybean crops across most of the country.
Food prices in the U.S. are rising, but sticker shock at the grocery store is especially acute in the egg and poultry aisles, as a highly contagious avian flu decimates commercial poultry flocks across the U.S. Click here to read the full CBS News article.
About three of every 50 people employed in restaurant and lodging jobs quit during March, suggesting the industry’s key labor challenge is shifting back to employee retention, reported Restaurant Business. Click here to read the full article.
The number of job openings was at a series high of 11.5 million on the last business day of March, although little changed over the month, the U.S. Bureau of Labor Statistics reported today. Hires, at 6.7 million, were also little changed while total separations edged up to 6.3 million. Within separations, quits edged up to a series high of 4.5 million, while layoffs and discharges were little changed at 1.4 million. Click here to read more from the U.S. Bureau of Labor Statistics.
McCain Foods 2020 Sustainability Report Summary In this Sustainability Report Summary, McCain shares their 2020 progress towards our Global Sustainability Strategy and commitments. The information in this report covers McCain Foods Limited’s 2020 fiscal year, from 1st July 2019 up to 30th June 2020, unless otherwise indicated. Published in June 2020, the first Global Sustainability Report, was developed in a pre-pandemic world, and although life fundamentally changed for many in 2020, the acute challenges posed by climate change and our fragile food system only became more evident. While they continue to navigate the very clear and present danger of the pandemic, they must also urgently work to address these existential social and environmental threats. Click here to read the full report.
Record breaking drought is reordering American culture. Click here to read the full article.
Two dozen additional outbreaks of highly pathogenic avian influenza have hit commercial and backyard flocks this week in seven U.S. states, according to the most recent federal data.
The latest outbreaks occurred in Michigan, Minnesota, Montana, Nebraska, North Carolina, North Dakota and Wisconsin, numbers from the U.S. Department of Agriculture’s Animal and Plant Health Inspection Service show. A fertilizer shortage, worsened by war in Ukraine, is driving up global food prices and scarcity4/6/2022 A fertilizer shortage has added to growing concerns about the Ukraine war’s impact on the price and scarcity of certain basic foods. Click here to read the full article.
If you think paying $10 for a pound of bacon or $6 for a pound of butter is bad, it's about to get more expensive. Pretty soon, you'll be paying even more for just about everything when it comes to eating in or dining out, according to the U.S. Department of Agriculture. Click here to read the full article from USA Today.
This is a chicken and egg problem. At least 90 poultry flocks in the U.S. have already been given the bird, the bird flu, that is. Testing so far in 2022 has found highly pathogenic avian influenza (HPAI) in these flocks that span 22 different states. Click here to read the full article from Forbes.
Russia’s military invasion of Ukraine has reignited the grain price rally of 2020-21, and the situation is expected to result in tight grain stocks and price volatility for at least two years, according to a new report from CoBank.
United States inventory of all hogs and pigs on March 1, 2022 was 72.2 million head. This was down 2 percent from March 1, 2021, and down 3 percent from December 1, 2021. Click here to read the full article.
The worldwide seafood industry is steeling itself for price hikes, supply disruptions and potential job losses as new rounds of economic sanctions on Russia make key species such as cod and crab harder to come by. Click here to read the full article from ABC News.
Phil Kafarakis knows the pandemic has created dire situations for many restaurants. At the same time, he’s also encouraged by the resilience displayed by many operators.
“I think this pandemic gave people an opportunity to be creative,” said Kafarakis, the president of the International Foodservice Manufacturers Association (IFMA), in a recent interview with The Food Institute. Click here to read the full article. Newly confirmed cases of highly pathogenic avian influenza (HPAI) affected commercial turkeys in Minnesota and more commercial chickens in Iowa even as mitigation efforts continued in many U.S. states.
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