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Countries stockpiling food could have global repercussions on the overall food system, according to industry analysts. Kazakhstan, Vietnam, Serbia, and Russia have all banned exports of certain food items, and China pledged to buy more rice than ever from its domestic harvest. An analyst with Chatham House warned that consumer stockpiling coupled with protectionist policies could eventually lead to higher food prices, reported Bloomberg. Full Story
Cavalier Produce transitioned to a direct-to-consumer business model and is offering pickup from its Louisa County, VA, location or from various satellite drop-off points in Richmond and Charlottesville. Previously, the company supplied restaurants, colleges, and retirement homes, reported Richmond Times-Dispatch. Full Story
Cargill closed its foodservice-focused French poultry business, which supplies breaded chicken products to McDonald's Corp., and expects a hit to its business from the UK's lockdown. The company isn't yet forecasting a drop in overall meat demand as retail buying helps offset declines from restaurants, but it expects purchases for poultry and seafood will potentially gain in some countries where it's cheaper, reported Bloomberg. Full Story
Italy's ship owners are asking for direct state funding over three years, as well as an 18-month moratorium on all financial obligations and a year-long exemption on social security payments for vessels. Activity at the country's container terminals has slowed down, with some operating at 75% capacity as many workers are staying home. The CEO of Sea-Intelligence Maritime Consulting expects a slowdown in the turnaround speed of containers, leading to container shortages in Asia, reported The Wall Street Journal. Full Story (WSJ Subscription Required)
Ocado temporarily suspended both its mobile phone app and its online shop due to increased demand, and anyone attempting to access it was placed in a virtual queue of more than 10,000 shoppers. An analyst at Shore Capital predicts the disruption could have a lasting impact on its brand image, as the "rigidity of its business model" prevented it from sufficiently ramping up capacity, reported Bloomberg. Full Story
Upper Saddle River, NJ (February 11, 2020) - The Food Institute, a New Jersey-based news and market research company founded in 1928, is proud to announce the appointment of Richard Bei as Chief Operating Officer and Head of Data Science.
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