Focus Archive > Page 63

Scorching California Temperatures Affect Produce

Northern California has been hit with triple-digit temperatures, as well as hundreds of lightning strikes that ignited brush fires, reported Los Angeles Times (Aug. 18). The mercury hit 107 degrees Fahrenheit on Aug. 17 in …

Black-Owned Food Companies in High Demand

Black-owned food businesses are seeing a surge in sales and interest from consumers as organizations celebrate August being National Black Business Month. Michele Foods posted a 78% jump in sales of its syrup products in …

Big Retailers Dominate E-Commerce

Walmart’s e-commerce sales rose 97% in the second quarter and same-store sales grew by 9.3%, driven by purchases of food and general merchandise, reported CNBC (Aug. 18). Though Walmart customers shopped less frequently, they bought more when they …

Pizza Essentials are Latest to Face Shortages

Certain pizza ingredients are getting harder to come by as pizza sales soar. Small pizza shops around the U.S. reported pepperoni prices are rising while the supply is getting tighter, reported Bloomberg (Aug. 14). Pizza …

Food Activity Picks Up in Asia

Over the past several days, there has been a significant amount of food-related activity in Asia—particularly in China and Japan. China China is expected to have a food supply gap of about 130 million metric tons …

COVID’s Impact on the Lobster Industry

The economic impact of coronavirus is unprecedented. It has brought social repercussions that sent shockwaves throughout the hospitality industry, especially products and services associated with luxury or discretionary buying, such as lobster and other delicacies. …

What the Stock Market is Revealing About Key Beverage Trends

The relative stock price performances of beverage companies this year tell a compelling story about the key beverage trends influencing today’s market. While most public beverage stocks closely followed the broad index (i.e., S&P 500 …

Vertical Farming Growth Accelerated by Coronavirus

The coronavirus pandemic has disrupted the traditional U.S. food and agriculture supply chain, providing a potential growth opportunity for vertical farms. One recent deal made in the space involves Singapore-based Temasek Holdings Pte and Bayer …

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Moving Forward, Grocery Retailers Must Embrace Digital

Online grocery shopping has surged during the COVID-19 pandemic. Before COVID-19, online accounted for less than 10% of food sales, according to Ernst & Young LLP (EY). By June, 45% of food sales were online. …