The United Nation’s FAO Food Price Index (FFPI) increased 1.1% (1.5 percentage points) in January over the month earlier, averaging 135.7 points for the month, the Food & Agriculture Organization said in a release.
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Restaurant Industry Sales Expected To Hit $898 Billion This Year, Up From $864 Billion In 20192/3/2022 Who could have predicted we’d be going into year three of a global pandemic that has gutted much of the restaurant industry, creating a debilitating environment of labor, supply chain and inflationary pressures in its wake?
To say this confluence of unprecedented challenges has been devastating is an understatement. But crises always yield lessons and for the restaurant industry, some of those lessons are illustrated in the National Restaurant Association’s newly released State of the Industry report. To read the full article from Forbes click here. A restaurant considering replacing its paper menus with QR codes, launching alcohol delivery or using a robot to make pizza would do well to consider one key variable: the age of their target customer. The younger generation is far more likely to use modern innovations like alcohol delivery and digital ordering. Their habits point the way to future growth. Click here to read the full article from Restaurant Business.
As with other food products, demand for poultry has soared amid the pandemic and as Super Bowl Sunday -- a day dedicated to chicken wing consumption -- approaches, restaurants and supermarkets are planning ahead. Click here to read the full article from Good Morning America.
Port congestion is spreading across the country, threatening to extend shipping delays and drive up costs for importers seeking to get around the bottlenecks at Southern California’s big gateway complex. Read more from The Wall Street Journal here.
Persistently high inflation will haunt the world economy this year, according to a Reuters poll of economists who trimmed their global growth outlook on worries of slowing demand and the risk interest rates would rise faster than assumed so far. Click here to read the full article from Reuters.
Ventura Foods shared five foodservice tends to watch for 2022! Click here to view the trends.
According to Cetera Investment Management CIO Gene Goldman, the easing of supply-chain woes can be expected to come around summertime. Click here to read the full article from Yahoo Finance.
It’s well known that farmers will have to pay more to produce this year’s crops. Farmers attending this week’s American Farm Bureau Federation’s annual convention want to know how long the input price hike will last. Read the full article from Successful Farming here: https://www.agriculture.com/news/crops/an-end-date-to-higher-fertilizer-prices-is-unknown-afbf-economists-say
Conagra Brands Inc. projected gross inflation during fiscal 2022 would be approximately 11%. The company now is predicting it will be closer to 14% for the fiscal year and is taking steps to mitigate the impact. The steps include incremental pricing actions, including list price increases, and modified merchandising plans. Click here to view the full article.
Shipping Companies Had a $150 Billion Year. Economists Warn They’re Also Stoking Inflation1/21/2022 Ocean shipping rates are expected to stay elevated well into 2022, setting up another year of booming profits for global cargo carriers — and leaving smaller companies and their customers from Spain to Sri Lanka paying more for just about everything. Read the full article from bloomberg here: https://www.bloomberg.com/news/features/2022-01-18/supply-chain-crisis-helped-shipping-companies-reap-150-billion-in-2021
Maybe you know the routine. Every so often, I go through my refrigerator, check labels on the items, and throw out anything that’s a month, or a week, or maybe a few days past the date on the label. I might stop to sniff, but for my whole adult life, I’ve figured that the problem was obvious — my jam or almond milk or package of shredded Italian cheese blend had “expired” — and the fix was simple: Into the garbage it goes.
Read the full article from Vox here: https://www.vox.com/22559293/food-waste-expiration-label-best-before Grocery store shelves across America are wiped clean, and they're staying empty as stores struggle to quickly restock everyday necessities such as milk, bread, meat, canned soups and cleaning products. Click here to read the full article from CNN Business: https://www.cnn.com/2022/01/11/business-food/grocery-store-shelves-empty/index.html
Empty shelves have returned at supermarkets as grocery employees call out sick and truckloads of food arrive late. To read the full article from CNBC, click here: https://www.cnbc.com/2022/01/11/empty-grocery-shelves-return-as-sick-employees-supply-chain-delays-collide.html
Grocery stores still have empty shelves amid supply chain disruptions, omicron and winter storms1/13/2022 The new year hasn't stopped ongoing food shortages. Read the full article at USA Today here: https://www.usatoday.com/story/money/shopping/2022/01/12/shortage-grocery-store-empty-shelves/9178100002/
Cream cheese is one of the latest ingredients in short supply as food sellers scramble to meet elevated demand as labor shortages and port congestion have wreaked havoc on the supply chain. While backups at ports are starting to clear up, there is concern that the Omicron coronavirus variant will exacerbate global supply chain problems. Click here to read the full article from CNN.
Nearly two years into the Covid pandemic, the virus that has infected millions and killed hundreds of thousands of Americans continues to disrupt the powerful supply chain that moves goods from factories to U.S. homes.
The problems seem endless and varied — creating headaches for manufacturers down to consumers. To read the full article from NBC News click here. In a letter to families this week, Indiana School District, Noblesville Schools let them know supply chain issues are causing problems in the lunchroom, which means lunches will have much less variety than normal. Click here to read the full article.
Problems in the supply chain are showing up in many areas — from companies not producing enough product, to delivery delays and a shortage of workers in the trucking and warehousing industries. Keeping properly stocked with food is a particular issue for schools — and for food banks and pantries, which have seen spikes in hunger due to the pandemic. Click here to read the full article.
Millions of people quit their jobs in the ‘Great Resignation.’ Here is why it may not last long11/19/2021 Reports of the so-called Great Resignation may have been exaggerated. Over the past several months, a rapidly growing number of Americans left their jobs — more than 4.4 million in September, the most recent month for which data is available. During that time, much of the narrative has focused on burned-out employees stomping out of their jobs — the “Big Quit” as some of have put it, in which workers are demanding higher wages, better working conditions and more mobility. Click here to read more from CNBC.
Transportation Secretary Pete Buttigieg told Yahoo Finance Live supply chain bottlenecks at the country's major ports will likely persist for the foreseeable future. The supply chain bottlenecks triggered by the pandemic continue to have multiple effects on the U.S. economy. Click here to read the full article from Yahoo Finance.
The Kellogg Co. has filed a lawsuit against its local union in Omaha complaining that striking workers are blocking entrances to its cereal plant and intimidating replacement workers as they enter the plant. Read more about Kellogg's here.
Prices shoppers paid for groceries climbed 1% in October from September and were 5.4% higher than at the same time last year, according to data released Wednesday by the Bureau of Labor Statistics. Overall, prices, which also include things like rent, cars and energy, climbed 6.2%, over the last 12 months, the largest increase since 1990. Click here to read the full CNN Business article.
U.S. consumer prices jump 6.2% in October, the biggest inflation surge in more than 30 years11/10/2021 Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday. The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago, the most since December 1990. Click here to read the full article from CNBC.
Consumers are returning to restaurants in droves, but continued demand for takeout is exacerbating shortages of items like plastic straws, coffee cups and to-go containers.
Snarls in the global supply chain have been rippling across the economy for months as the health crisis has created bottlenecks and other new challenges for companies. Click here to read the full article from CNBC. |
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