Three key trends in the food retail supply chain

ClusterHall April 4, 2020

Three key trends in the food retail supply chain

The Food Marketing Institute (FMI), a Washington DC-based trade group for food marketing, food retailers, and wholesalers has had its finger on the pulse of the technological and strategic trends that are reshaping the ways in which food makes its way from farm to shelf since 1976. Last week, the FMI’s Senior Vice President of Industry Relations, Mark Baum, published his list of the food retail supply chain trends that are defining the industry today. Supply Chain Digital has broken down three of the core trends identified by the report. Information is Power Baum notes that, across all industry supply chains, accurate and digestible information is the key to building successful customer relationships, and food is no exception. Customers are reportedly demanding to know more about their food: where it comes from, what’s in it and where it’s been. He notes that, “according to FMI’s 2019 U.S. Grocery Shopper Trends report, the average shopper looks […]

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Product testing in real-life situations helps uncover consumer insight

ClusterHall April 4, 2020

Product testing in real-life situations helps uncover consumer insight

By trying the item at gyms, bars, restaurants and other places where it’s likely to be used, Sean Bisceglia with Curion said companies are increasing the chance that it will be a success.   Sean Bisceglia is the CEO of Curion, the leading provider of consumer insights research and product testing for both global CPG’s and challenger brands in the food and beverage, personal care, fragrance, and home care categories. Brands rely on consumer testing to analyze potential risks and rewards before launching a new product, a line extension or changing the way they market the brand. This typically takes place in a test kitchen or lab, where consumers participate in blind studies. The environment is clean and clinical. But with the advent of in-context testing, researchers can now take product testing to consumers where they live and relax, such as community gyms, popular bars, theaters, restaurants, senior living or […]

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How companies can cope as coronavirus impacts the food chain

ClusterHall April 4, 2020

How companies can cope as coronavirus impacts the food chain

Businesses need to remain vigilant in assessing their risk while mitigating against significant dangers and disruptions from the disease, said Steven P. Blonder, a principal at Much Shelist. Flickr user waitscm The media is replete with stories about empty shelves in grocery stores and warehouses, with water, wipes and toilet paper ranking among the items least likely to stay in the stores. Many industry suppliers of non-perishable or processed foods have seen sales skyrocket as consumers are filling their cupboards with shelf-stable foods; supply chains are being stretched to ramp up production to meet demand. At the other end of the spectrum, retail food establishments and restaurants are challenged by a shortage of food supplies, customers and employees. Prepared foods in local supermarkets present particular challenges. While salad bars, pasta stations and the like may be protected by a “sneeze guard,” these usually feature tongs or serving spoons used throughout the […]

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50% wage offset for food and beverage firms to cope with coronavirus outbreak

ClusterHall March 31, 2020

50% wage offset for food and beverage firms to cope with coronavirus outbreak

A food crisis looms as coronavirus forces farms to stay idle and countries hoard supplies PUBLISHED MON, MAR 30 20201:33 AM EDTUPDATED 6 HOURS AGO KEY POINTS Large-scale lockdowns to contain the coronavirus outbreak have hurt the supply of manpower and disrupted supply chains in the agriculture industry. The United Nations’ Food and Agriculture Organization said the world risks a “looming food crisis” unless measures are taken fast to protect the most vulnerable, keep global food supply chains alive and mitigate the pandemic’s impacts across the food system. As of now, disruptions are minimal as food supplies have been adequate. But price spikes are more likely for higher value products like meat and perishable commodities rather than for major staples which are still in adequate supply, said the FAO. Agricultural laborers spray against insects and weeds inside the orchards of a fruit farm in Mesa, California. In this time of […]

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Hospitality Financial Leadership – Food Cost and the 80/20 Rule

ClusterHall March 31, 2020

Hospitality Financial Leadership – Food Cost and the 80/20 Rule

By David Lund : Hotel & Financial coach. Facebook Twitter LinkedIn  Pinterest    Email     Share We have all heard of the 80/20 rule. But I am willing to bet most of you have not heard it in conjunction with the words “food cost.” A good friend of mine who was an executive chef explained it to me and I am going to share it with you. So first off, the 80/20 rule states that 80 percent of any result comes from 20 percent of the activity. In food cost, what Chef taught me is the 80 percent of the food cost comes from only 20 items. That’s right—the top 20! What he explained was so simple and powerful. Identify the top 20 food items your hotel buys using the dollar value of those items. It takes a bit of work but once you have your list it is […]

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LOUIS DREYFUS SEES FOOD DEMAND HOLDING UP IN CORONAVIRUS CRISIS

ClusterHall March 27, 2020

LOUIS DREYFUS SEES FOOD DEMAND HOLDING UP IN CORONAVIRUS CRISIS

PARIS, March 23 (Reuters) – Agricultural commodity merchant Louis Dreyfus Company (LDC) expects food demand to hold up during a coronavirus epidemic as consumption focuses on staples and buyers stockpile around the world, its chief executive said. Reporting annual results earlier on Monday, LDC said it had not seen a significant impact so far from the coronavirus crisis, although it would not predict how it might affect the rest of the year. While the epidemic has hurt demand for crop-based biofuels and discretionary food spending, agricultural markets were continuing to see steady demand for staples, Ian McIntosh said in a telephone interview. Food and feed demand would also be bolstered by China’s rebuilding of its pork industry after a swine fever epidemic, as well as short-term upturns in demand, as seen with rice in West Africa and coffee worldwide as the coronavirus outbreak develops, he said. Stockpiling could be a […]

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Food security concerns stoked as exporters curb sales, importers buy more

ClusterHall March 27, 2020

Food security concerns stoked as exporters curb sales, importers buy more

SINGAPORE/DUBAI (Reuters) – Global food security concerns are mounting as some governments contemplate restricting the flow of staple foods with around a fifth of the world’s population under lockdown to fight the widening coronavirus pandemic. Panic buying of household items and store cupboard staples such as rice and flour has occurred in nearly every country hit by the virus, which has infected over 470,000 people across 200 countries. Empty shelves in supermarkets have been common. The erratic nature of consumer buying is stoking concern that some governments are moving to stem the flow of food staples to ensure their own populations have enough while supply chains are disrupted by the pandemic. “If major exporters start keeping grains at home, it will have the buyers really worried,” said Phin Ziebell, agribusiness economist at National Australia Bank. “It is panicking and not rational, as fundamentally the world is well supplied with food.” […]

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Australia, New Zealand beef production to decline in 2020

ClusterHall March 27, 2020

Australia, New Zealand beef production to decline in 2020

Export volumes for both countries expected to decline due to the spread of COVID-19, specifically in China. Krissa Welshans | Mar 26, 2020 The U.S. Department of Agriculture’s Foreign Agricultural Service (FAS) recently provide an update on Australia and New Zealand’s beef production in recent GAIN (Global Agricultural Information Network) reports.  According to the Livestock Marketing Information Center (LMIC), Australia is having the most dramatic adjustments in 2020 but New Zealand is also worth noting. A sharp decline in Australia’s beef output this year is being caused by the cumulative impacts of a multi-year drought. “Australia’s cattle numbers have already reached the lowest level in three decades,” FAS noted in the report, but added that increased precipitation may serve as a catalyst for herd rebuilding. This year, however, FAS forecasts Australian beef production will see a year-over-year decline of 14%. FAS noted that exports typically account for nearly two-thirds of the […]

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A sustainable way to feed the world: Local production of fresh, natural seafood

ClusterHall March 25, 2020

A sustainable way to feed the world: Local production of fresh, natural seafood

ByAngela Scott-Briggs he UN considers aquaculture a key player in the effort to feed the world’s growing population, predicted to reach 9 billion by 2050. Due to a heightened awareness in health and nutrition, the popularity of fish and seafood has gained momentum and consumption has more than doubled in the last 50 years. Today, traditional fisheries and aquaculture methods are unable to meet the global demand for fish and seafood causing market prices to repeatedly increase. Last year, the United Nations released a report that warned that a third of the world’s oceans are overfished, and that fish consumption is now unsustainable. Furthermore, seafood markets are frequently located far away from the fisheries, resulting in the need for countries to import huge quantities of seafood each year. The US, for instance, is importing more than 90% of its consumed seafood, according to NOAA (National Oceanic and Atmospheric Administration). In 2018, Europe was the second largest fish […]

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