In this week’s food industry news in 2 minutes, we examine how tariffs are influencing consumer cutbacks in America.
New survey data shows that 32% of Americans plan to cut back on holiday spending due to tariffs or trade restrictions. Supply chain planning company o9 Solutions also found that 22% of Americans say they’ve recently restrained themselves from buying certain groceries they wanted due to the current economic climate. Full Story
And finally, Beyond Meat shares tumbled on Monday, as shareholders agonized over a debt exchange offer. Shares of the plant-based meat company, which disclosed about $1.3 billion in debt at the end of 2024, were last trading at $1.03. The stock had hit a record high of $239.71 in July 2019, reported Reuters via MSN. Full Story
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