Food Industry Headlines Overview- February 2022

Wheat, Corn And Soybean Prices Surge Amid Fears That Russian Invasion Of Ukraine Will Lead To Higher Food Prices – Forbes

Wheat, Corn, and soybean prices rose in the U.S. on Thursday (Feb 24) after Russia launched its invasion of Ukraine. This surge has caused wheat and soybean contracts to hit their highest prices since 2012. Both Ukraine and Russia are responsible for more than 25% of global wheat exports – being key suppliers to Europe and the Middle East – as well as 80% of sunflower oil exports and approximately 20% of corn exports.

Alliance to Stop Foodborne Illness Welcomes Four New Food Safety PartnersQuality Assurance & Food Safety

The Alliance to Stop Foodborne Illness has recently welcomed four new members into the fold – Consumer Brands Association (CBA), Chipotle Mexican Grill, JBS USA, and PepsiCo, Inc. The initiative – which is focused on improving food safety culture throughout the industry – was launched in 2018, and now consists of 18 industry partners.

Coca-Cola brand fairlife hits $1bn markDairy Reporter

Coca-Cola’s dairy-focused “fairlife” brand is the company’s latest product line that has managed to surpass $1 billion in annual retail sales. The brand, which was founded just a decade ago in 2012, includes protein shakes, ultra-filtered lactose free milk, and light ice cream. Coca-Cola’s fairlife products are currently sold by retailers throughout the US, Canada, and China.

Food and drink prices are going up. CEOs say consumers aren’t changing their shopping behavior yetCNBC

Several food and beverage manufacturers have stated that consumers are not changing their shopping trends, even in the face of rising food and drink prices. Walmart – one of the most prominent retailers – stated last month (Feb 2022) that consumers are fully aware of the change in prices but there hasn’t been any noticeable difference in their behavior as of yet.

Published by

Leave a Reply

Your email address will not be published. Required fields are marked *