Quick Overview Of The Headlines
Russia cuts fertilizer supplies, hurting Brazil, one of their major customers – The Wall Street Journal
Brazil, one of the most influential breadbaskets in the world, is now searching for new fertilizer suppliers as the Russian trade ministry calls for a broad suspension of fertilizer exports. Global food prices are expected to be affected by this change, as the country is the world’s largest producer of coffee, sugar, and soybeans.
Waste2Func obtains US$7.4M grant to convert food waste into valuable raw materials – Food Ingredients First
Waste2Func, an EU-based initiative to reduce the effects of food waste, has been awarded a US$7.4M grant that will be used to expand their efforts. The project aims to convert food waste into valuable raw materials that can be used to create a wide range of everyday products.
United States Breadmakers Wary of Escalating Costs as Conflict Engulfs the Wheat Trade – Bloomberg
Several US-based bakeries have already raised their prices amidst the ongoing surge in wheat prices and rampant speculation. Together, both Russia and Ukraine are responsible for approximately 25% of the world’s grain exports and industry experts are expecting things to get worse as confusion and turmoil surrounds the Black Sea trade
Flashfood, the Ambitious Food Waste Reduction App, Raises $12.3 Million – Grocery Dive
Flashfood, the ambitious food waste reduction app, has partnered with numerous grocers in the US and Canada – now being available in over 1,200 stores. The free app has raised $12.3 million in a Series A funding round and plans to use it to expand its US presence.
Innovative Cape Town Dairy Startup Serves as Africa’s First Leap Into the Growing Animal-Free Dairy Movement – VegNews
De Novo Dairy, the first precision fermentation company in Africa, is creating milk proteins, which are molecularly identical to those in cow’s milk, to manufacture dairy products without exploiting animals. The company has attracted early-stage investment from CULT Food Science, a Canadian investment company focused on supporting and advancing the technology behind the future of food.
New York startup Popchew aims to help creators and local food brands better utilize digital infrastructure – TechCrunch
Popchew, a recent New York-based startup, seeks to help creators grow their digitally native food brands in a matter of weeks. The company has recently secured $3.6 million in seed funding and aims to launch new brands every month.
Global food protectionism continues to rise as Hungary introduces a ban on grain exports – Yahoo! Finance
Amidst the growing disruption that Russia’s invasion of Ukraine is having on the global agricultural trade industry, several governments have enacted measures to preserve domestic food supplies. In addition to Hungary’s ban on grain exports, Argentina and Turkey have also enacted similar measures.
