Industry News - wk ending 27 May '22
Potato News - North America
Colorado potato exports to Mexico poised to increase, but drought may create barriers
The day potato farmers in San Luis Valley had been waiting on for more than 25 years finally came as Mexico’s decades long limitation on Colorado-grown potatoes came to an end earlier this month, reports Marianne Goodland for The Gazette.
Fewer US Spuds, Higher Prices in the Third Quarter of the 2022 Marketing Year
Over the third quarter of Potatoes USA’s Marketing Year 2022 (January – March 2022), potato sales increased in USD by 7.2% but decreased in volume by 5%, compared to the same period in 2021.
Overall Canadian Spud Storage Holdings are Up
Even with a regional difference of 15% less spud storage holdings in Western Canada on May 9, 2022, the four Eastern Provinces have their cultivar storage holdings 42% above the three-year average, and the overall Canadian spud storage holdings are on the upward trend with 17.9%.
First Shipments of US Fresh Potatoes Crossed Into Mexico in 25-plus Years
Reopening the full Mexican market to US potatoes thanks to the partnership between US growers, USDA and USTR have been recently appreciated by the National Potato Council (NPC).
Potatoes News
Potato News - Overseas
Europe’s Spud Futures Prices Have Strengthened
In Europe, the spud futures prices have bolstered this week with the current spell of cool overnight temperatures and dry weather adding confidence to the longer term.
Senseless, barbaric and scandalous: Russia’s war in Ukraine will no doubt worsen a global food crisis
Together, Russia and Ukraine accounted for just under 30% of global wheat exports in 2021. The price of wheat hit a record high this year at approximately $12.94 (about R205) a bushel (it opened the year at $7.55). The Financial Times reports that the US Farm Service Agency is thinking about loosening federal restrictions on land. Dig, baby, dig is a reactionary battle cry in waiting.
Logistics News
Diesel Price Slips 4.2¢ to $5.571 a Gallon
The national average price of diesel dipped for the second week in a row, falling by 4.2 cents to $5.571 a gallon, the Energy Information Administration reported May 23.
Daily Infographic: EIA expects summer U.S. real gasoline and diesel prices to be the highest since 2014
National diesel average declines but remains at a high level, for week of May 23
The national average price per gallon for diesel gasoline decreased, for thew week of May 23, while remaining at a high level, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).
Food Industry News
FAO Food Price Index retreated slightly in April from the all-time high registered in March
The FAO Food Price Index* (FFPI) averaged 158.5 points in April 2022, down 1.2 points (0.8 percent) from the all-time high reached in March, though still 36.4 points (29.8 percent) above its value in the corresponding month last year.
Sourcing sustainable ingredients
Reducing greenhouse gas emissions has become a goal spanning the entire food and beverage supply chain. Retailers, multinational food companies and ingredient suppliers have set objectives. The US Securities and Exchange Commission may act on the issue, and millions of consumers expect industry to have sustainability plans that include reducing GHG emissions.
The future of DTC brands
The eCommerce market hit its stride in 2020 with the start of the pandemic. When grocery stores started selling out of items, many consumers turned to direct-to-consumer (DTC) brands to fill the gap, according to Mintel’s “2022 U.S. Direct-to-Consumer Retailing” report. But as the pandemic becomes endemic, what will that mean for the fate of DTC brands?