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 Industry Roundup |
Corn/Maize
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Commentary: Four hidden reasons for high food prices include Russia-Ukraine conflict's impact on price of corn, avian flu outbreak causing major spike in price of chicken/turkey, California's drought, truck jams keeping produce stalled at US-Mexico border
The Washington Post (Print) (04/26)
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Grains
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Canadian Pacific's Q1 net income falls 2% year-over-year to C$590M from C$602M, while operating income falls 31% to C$535M from C$780M; revenue falls 6% to C$1.84B from C$1.96B, due to 20% revenue falls for both grains and energy, chemicals and plastics
PR Newswire (04/28)
Iowa lawmakers request action from the Surface Transportation Board regarding rail shipment delays impacting agricultural goods, including fertilizer, dairy farm feed, grain, ethanol; one farmer reported a turnaround time of over double the typical amount
Congressional Documents & Publications (04/26)
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Oils
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Fitch: Indonesia palm oil export ban to put further pressure on distressed global vegetable oil market, feed through into food price inflation; consumers in Asian markets most at risk to inflationary feed through due to higher vegetable oil use in cooking
Fitch Solutions Sector Intelligence (04/28)
French government announces changes to rules food manufacturers must follow on recipe labelling as the Ukraine war puts pressure on sunflower oil supplies; food companies that alter the make-up of products will have six months to fully reflect any changes
just-food.com (04/28)
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Palm/Palm Oil
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Chicago Board of Trade soybean oil futures reach record high on April 27 after Indonesia extends an export ban on cooking oil feedstocks in a bid to curb food price rises
Reuters (04/27)
Indonesia will include crude and refined palm oil in its export ban, says country's chief economic minister; government initially said it would only halt shipments of refined, bleached and deodorized palm olein
Food Dive (04/27)
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Rice
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Reduced germination rate in rice samples found to increase lipid oxidation, hardness and most pasting properties, while reducing seed viability, moisture content and adhesiveness; germination rate could serve as indicator to track changes in rice quality
Food Chemistry (04/28)
Economist Intelligence Unit expects global rice consumption at 511 million tonnes in 2021/2022, rise to 518 million tonnes the next year; Ukraine conflict hasn't directly affected world rice market, but raises interest in use of low-quality rice for feed
World Commodity Forecasts (04/28)
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Wheat
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EU's crop monitoring service lowers its forecast for the average EU soft wheat yield this year to 5.95 tonnes/hectare from previous forecast of 6.02/hectares forecast, 1.5% below the 2021 level
Reuters (04/27)
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Animal Farming/ Meat Production
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Royal DSM and Elanco announce strategic alliance, in which Elanco secures exclusive US licensing rights to develop, manufacture and commercialize Bovaer brand methane-reducing feed additive for beef and dairy cattle
Koninklijke DSM NV (Royal DSM) (04/27)
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Cannabis/Hemp/Marijuana Farming
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Canopy Growth to lay off more 243 workers under new cost reduction strategy; affected workers span Canada Europe and the US
Canadian Press DataFile (04/26)
Canopy Growth announces cost reduction strategy, including reducing cost of goods sold through increased cultivation-related efficiencies, facility improvements; a flexible manufacturing platform will include contract manufacturing for certain products
Canopy Growth Corp. (04/26)
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Dairy Farming
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Cargill announces US$50M expansion and renovation of its Global Animal Nutrition Innovation Center in Elk River, Minnesota; expansion includes new dairy innovation unit, larger onsite feed mill, new visitor’s space and laboratory for nutrient R&D
Dairy Processing & Markets (04/26)
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Regenerative Agriculture
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Bain: Making regenerative agriculture more attainable for farmers could create more sustainable food systems; food companies can accelerate this shift by providing financial assistance for farmers, potentially connecting them to carbon credit markets
PR Newswire (04/28)
Sumitomo submits applications for registration of new Rapidicil herbicide in the US, Canada, Argentina, Brazil; ingredient supports till-free farming practices that are considered to have lower environmental burden, company says
ENP Newswire (04/27)
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Soil Health/Soil Management
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Natural Carbon Sequestration and Resilience Act moving through California Legislature would set state's first-ever statutory targets for naturally removing past climate pollution from atmosphere through soil, vegetation on natural, urban, working lands
Targeted News Service (04/27)
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Agricultural Chemicals
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Aker Horizons and Statkraft to jointly explore opportunities for green hydrogen and ammonia production in India and Brazil, focusing on local steel and fertilizer industries
PR Newswire (04/27)
Brazil's President Bolsonaro highlights negotiations with Russian President Vladimir Putin to ensure continued fertilizer shipments to Brazil; country imports 85% of fertilizers, primarily from Russia
PR Newswire Policy (04/26)
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Agricultural Packaging
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New Zealand-based Best Berries selects KM Packaging’s K-Reseal lidding film with macro ventilation holes for its APET punnets of strawberries; the monolaminate PET lidding is designed for recyclability, fully printed and features a tamper-evident seal
KM Packaging Services Ltd. (04/27)
KB Recycling signs purchase agreement to acquire Spain's Plasticos Flome, a plastics manufacturer for trays and automotive, agricultural, beverage packaging; KB says €2.0M acquisition will help bring its products, processes to European market
Canada Newswire (04/27)
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Agricultural Waste
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Hiroshima University scientists develop world’s first silicon quantum dot (QD) LED light made using rice husks; their method transforms agricultural waste into state-of-the-art light-emitting diodes in a low-cost, environmentally friendly way
Hiroshima University (04/27)
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Plant Extracts/Plant-Based
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Maple Leaf Foods subsidiary Greenleaf Foods announces US launch of new Lightlife brand plant-based chicken breasts and chicken strips; products available at Publix and Walmart stores
Maple Leaf Foods Inc. (04/28)
Rif Care debuts hemp-based line of period products, said to be fully biodegradable; pads have hemp and organic cotton fiber blend topsheet, responsibly sourced and chlorine-free tree pulp core without superabsorbent polymers, sugar-based plastic backsheet
Nonwovens Industry (04/28)
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Agricultural Products & Raw Foods
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Panamanian government approves the import of 80,000 quintals of gold coffee due to a shortage of the product in the country, according to the Ministry of Agricultural Development
CE Noticias Financieras (04/28)
Some farmers in the UK can't afford to plant crops for next season due to rocketing fuel and fertilizer costs, government minister told
Chester Chronicle (04/28)
Corteva Agriscience to withdraw from Russia and--having already paused new sales--is initiating a plan to stop production and business activities in the country
Corteva Inc. (04/28)
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Food & Beverage
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Fresh Produce
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Asda to lower prices for the rest of the year on 100 items including fresh fruit and vegetables, fresh meat, rice and noodles, as it looks to fend off Aldi and Lidl in a battle for the spending of lower-income households
Daily Telegraph (04/26)
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Fresh Foods
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Sainsbury's warns of lower profits this year as it moves to reduce prices across 150 of its highest volume fresh products amid cost-of-living crisis; news comes as company reports yearly profits of £854, three times higher than £278M in pre-pandemic
Surrey Advertiser (04/28)
Researchers in Spain develop food packaging material derived from pineapple waste that can increase shelf life, with ultimate goal to develop an edible film; researchers are also investigating the material’s aroma-enhancing properties
India Engineering News (04/28)
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Fruit/Vegetable Juices
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FDA issues draft action levels for lead in ready-to-drink apple juice and other ready-to-drink juices and juice blends, in an effort to reduce children's exposure to lead
Fox News (04/28)
Molson Coors announces launch of new Arnold Palmer Spiked Lite, an alcoholic version of the Arnold Palmer half iced tea, half lemonade beverage; beverage comes in 12 oz. sleek cans
PR Newswire (04/28)
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Fruits, Vegetables & Salads
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Pulsed infrared light found to accelerate drying rate of ginseng at early drying stage, improve color, texture of dried ginseng after rehydration; semidrying with IR more than doubled shelf life of fresh ginseng, shows potential to replace hot air drying
Food Control (04/28)
Cross-linked chitosan, diepoxy-polyethylene glycol coating found to effectively inhibit growth of spoilage organisms on vibration-damaged Nanguo pears; CS-PEG coated pears also maintained better physical appearance, remarkable hardness for 25 days
LWT - Food Science and Technology (04/28)
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Protein
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Dielectric barrier discharge cold plasma treatment shows potential application in improving quality of pork loin; DBD-CP could improve meat tenderness and promote emulsifying characteristics of myofibrillar protein, but could also accelerate oxidation
LWT - Food Science and Technology (04/28)
Nestle Health Science announces launch of new cinnamon roll flavor of its Boost brand high-protein nutritional drinks, in collaboration with Cinnabon; beverage available in six-packs on Boost's website and at Wal-Mart stores
Dairy Processing (04/27)
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Meat & Poultry
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Study finds broth prepared from raw chicken that underwent short-term frozen storage displays enhanced aroma; as storage time increased, depolymerization of gelatin enhanced broth's emulsifying ability, increasing fat content and particle size
LWT - Food Science and Technology (04/28)
Mexican pork exports to the US total 14,624 tons in the first 15 weeks of 2022, up 0.9% from year-ago period, according to government statistics
CE Noticias Financieras (04/28)
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Cold Cuts/Processed Meats
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Jack Link's announces plans to construct new US$450M manufacturing facility in Perry, Georgia; facility slated to be operational at the end of 2023
Georgia Government (04/26)
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Fish/Seafood
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Sysco wins US$40M federal contract award from the Dept. of the Interior Bureau of Indian Affairs, Albuquerque, New Mexico, for meat, poultry and fish
Targeted News Service (04/28)
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Eggs
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Study finds egg yolk phospholipids, alanine, glucose could be used to generate key odorants of fried, battered, breaded food; phospholipids produce characteristic lipid-derived odorants, while alanine, glucose generate typical Maillard reaction odorants
LWT - Food Science and Technology (04/28)
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Dairy Products/ Dairy Alternatives
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Scientists develop 'powerful' aqueous two-phase system to detect cow adulteration in goat milk samples; method improves extraction, accurate quantification of beta-carotene by weakening its interaction with beta-lactoglobulin
Food Chemistry (04/28)
Chobani to end production of dairy milk after less than three months, citing negative impact of inflation
Food Dive (04/26)
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Milk/Milk Alternatives
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Scientists synthesize novel porphyrin-based conjugated microporous polymer to successfully extract 11 toxic phthalate esters from children's milk beverages; PCMP used for first time as coating for solid-phase microextraction fibers
Food Chemistry (04/28)
Clover Sonoma receives sustainability award for packaging innovation from California Creamery Operators Assn.; company recognized for its first fully renewable milk carton and PCR content gallon milk jug in the US
Business Wire (04/26)
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Coffee
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Application of ammonium formate version of QuEChERS method on coffee prepared from capsules showed high extraction capacity for widely used plasticizers, including nine phthalic acid esters and one adipate; method showed moderate matrix effect
Food Chemistry (04/28)
Dunkin' announces limited-time offerings of several new and returning menu items, including Mango Pineapple Dunkin’ Refresher, Cake Batter Signature Latte, Tomato Pesto Grilled Cheese and Cornbread Donut & Munchkins
Business Wire (04/27)
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Packaged Foods
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Scientists find that xanthan gum improves microstructure, quality of bread during 0 to 90 days of freeze-thaw treatment by alleviating depolymerization of gluten; bread prepared from XG-gluten mixtures showed better color, volume, visible pore proportion
LWT - Food Science and Technology (04/28)
Utz Brands subsidiary Utz Quality Foods purchases new 125,000 square-foot snack food manufacturing facility in Kings Mountain, North Carolina, from Evans Food Group; purchase includes the existing building, land and pork-rind production equipment
Business Wire (04/28)
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Non-Alcoholic Beverages
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JDE Peet’s proposes the appointment of Jeroen Katgert--SVP of finance for Mondelez Europe--to its board of directors; announcement comes following Gerhard Pleuhs' decision to step down from the board on May 11
Globe Newswire (04/28)
Russian soft drink and other beverage manufacturers fear they may be forced to stop production due to Western sanctions over Moscow's invasion of Ukraine, says president of the Russian Union of Producers of Juices, Water and Drinks
BBC Monitoring (04/28)
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Alcoholic Beverages
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Bacardi offloads its stake in Compass Box, with investment group Caelum Capital acquiring majority control of the UK-based craft distiller; further details not available
MarketLine (04/28)
Anheuser-Busch's UK division says it hopes to reach a 'mutually acceptable' way forward after staff at one of its breweries in the country vote in favor of strike action
MarketLine (04/28)
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Tobacco & Cannabis
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Cannabidiol (CBD) Beverages
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Colorado's first cannabis 'bar' opens April 22, serving THC-infused beer, recreational marijuana that can be consumed on site
The Denver Post (04/26)
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Tobacco, Cannabis & Derivatives
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Trulieve Cannabis closes acquisition of Greenhouse Wellness West Virginia Dispensaries; acquisition includes dispensary permit in Martinsburg, West Virginia
PR Newswire (04/27)
FDA is expected to announce a decision this week on whether to ban menthol cigarettes and cigars, Industry analysts say; if a ban is made, it will likely take years before going into effect
Independent Tribune (04/27)
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Stock
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Latest: Apr, 28 2022
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Latest Value |
Prev |
Chg |
YOY Chg |
| Watchlist |
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Archer Daniels Midland (ADM)
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92.51
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93.92
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-1.50%
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46.61%
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CHS Inc (CHSCP)
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31.00
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30.68
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1.04%
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4.03%
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Farmland Partners (FPI)
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14.96
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14.73
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1.56%
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11.81%
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Fresh Del Monte Produce (FDP)
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26.87
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26.13
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2.83%
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-5.25%
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JBS SA (JBSS3) :BVMF
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39.03
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37.61
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3.78%
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10.07%
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