Rising food prices

Share to Twitter Share to Linkedin Food prices are soaring as inflation, product instability, and supply chain delays are causing all sorts of havoc within the food industry. As a result, consumer packaged goods manufacturers and food & beverage companies have to rethink their strategies and offerings and even question how consumers consume as they try to navigate this uncertain time. The consumer packaged goods and food & beverage industries may have taken the hardest hits in recent years, reeling from constant disruptions. The lingering effects of a global pandemic were only the start. Continuing shortages of raw materials from Ukraine and Russia, production and processing delays, and fast-rising oil and gas prices have directly impacted food-related manufacturing, transportation of goods, and agricultural supply chains. Today, the business of producing and distributing food and beverage products is fraught with economic unease and supply chain … [Read more...] about When It Comes To CPG And Food & Beverage Companies – Investing In Purpose-Built Supply Chain Intelligence Matters

- A + A PUTRAJAYA (June 28): The Science, Technology and Innovation Ministry (MOSTI) has 27 technological solutions that are ready to be widely applied to assist the country handle the food security issue in the short run. MOSTI in a statement on Tuesday (June 28) said the technological solutions are divided into several clusters, namely seeds, bio fertiliser, booster fertiliser, use of drone, testing, and internet of things (IoT), aquaculture, as well as livestock feed. "All the technology solutions are the results of local research and development (R&D) financed by the government,” said MOSTI. Among the technology solutions which could be introduced are automated fertigation system, vertical farming, aquaponics combined with artificial intelligence (AI), which is capable of operating in remote areas and reduce the cost of operation through Nano Light Energy Panel (NLEP) solar energy as a primary source of energy. The usage of technology could also be … [Read more...] about MOSTI offers 27 technology solutions to tackle food security

Share to Twitter Share to Linkedin Topline The Group of Seven nations (G-7) outlined plans for the reconstruction of Ukraine, resolving the global food security crisis, securing energy supply and tackling climate change as a two-day summit of the countries’ leaders in Germany concluded on Tuesday. Key Facts In a summary of its official communiqué issued after the summit, the G-7 reaffirmed its support for Ukraine’s “courageous” defense of its “sovereignty and territorial integrity” and vowed to punish Russia further by coordinating more sanctions and reducing its revenue from energy exports. The G-7 nations pledged a total of $29.5 billion in financial aid for Ukraine’s reconstruction in 2022, plans for which will be made in partnership with Kyiv through an international reconstruction conference. Blaming Russia’s invasion for steep energy prices around the globe, the leaders said they will take immediate steps to secure energy supply … [Read more...] about G-7 Pledges Billions To Help Ukraine Rebuild And Reveals Plan To Tackle Food Security As Summit Ends

Share to Twitter Share to Linkedin There’s a fascinating twist to the origin story of Footprint , a Gilbert, Arizona-based maker of fiber-based packaging solutions, which was founded in 2014 with the objective of innovating new alternatives to plastic-based food packaging. The impetus for that goal came not from the food and beverage business or the packaging world, but from the microchip industry. “I spent 15 years at Intel,” said Troy Swope, co-founder and CEO of Footprint. “That’s important to this story. We have over 100 engineers, and the core of that group is from Intel. It’s central to who we are–we’re not from the industry we’re disrupting. We kind of stumbled onto plastic outgassing in [computer chip] wafers, and that brought us to the need to get plastic out of food.” The company has grown substantially from its first two employees, founders Swope and his fellow Intel engineering alum Yoke Chung, now Footprint’s CTO, to over 2,600 full-time people … [Read more...] about Footprint Says To Ditch Your Plastic Packaging

Share to Twitter Share to Linkedin Topline Stocks fell for a second day in a row on Tuesday as markets failed to build on last week’s strong rebound from 2022 lows, with investors once again selling off shares amid looming recession fears and new economic data showing that consumer confidence plunged to a 16-month low. Key Facts Stocks erased earlier gains and finished lower: The Dow Jones Industrial Average fell 1.6%, nearly 500 points, while the S&P 500 lost 2% and the tech-heavy Nasdaq Composite 3%. Markets took a hit after the latest data from the Conference Board, with the consumer confidence index falling to a reading of 98.7, down from 103.2 in May and its lowest level since February 2021. What’s more, consumers’ short-term outlook for the economy fell from 73.7 last month to 66.4 in June, marking the lowest reading in nearly a decade (since March 2013), according to the Conference Board. Retail stocks took a hit from the … [Read more...] about Dow Plunges Nearly 500 Points, Recession Fears Resume As Consumer Confidence Hits New Low

- A + A (June 28): European Central Bank (ECB) president Christine Lagarde affirmed plans for an initial quarter-point increase in interest rates in July but said policymakers are ready to step up action to tackle record inflation if warranted. Speaking at the ECB’s annual retreat in Sintra, Portugal, Lagarde offered reassurances that a new anti-crisis instrument yet to be announced won’t stand in the way of tackling the fastest surge in consumer prices since the euro was introduced. Her remarks underline the ECB’s base case for normalising monetary policy as some officials float the idea of moving more aggressively. Governing Council member Martins Kazaks said earlier on Tuesday (June 28) that “front-loading” hikes, including a possible larger move next month, could be reasonable. Traders brought forward bets on rate increases, but only see a 25% chance of a half-point hike in July. “There are clearly conditions in which gradualism would not be appropriate,” … [Read more...] about Lagarde vows nimble ECB policy as July hike plan proceeds

By ZEKE MILLER and GEIR MOULSON ELMAU, Germany (AP) — Leaders of the world’s biggest developed economies said Tuesday they would explore far-reaching steps to cap Russia’s income from oil sales that are financing its invasion of Ukraine and struck a united stance to support Kyiv for “as long as it takes” as the war grinds on. The final statement from the Group of Seven summit in Germany underlined their intent to impose “severe and immediate economic costs” on Russia. It left out key details on how fossil fuel price caps would work in practice, setting up more discussion in the weeks ahead to “explore … the feasibility” of measures to bar imports of Russian oil above a certain level. That would hit a key Russian source of income and, in theory, help relieve the energy price spikes and inflation afflicting the global economy as a result of the war. “We remain steadfast in our commitment to our unprecedented coordination on sanctions for as long as necessary, acting in … [Read more...] about G-7 leaders united behind Ukraine, aim at Kremlin oil money