Industry News - Wk ending 10 JUN '22
Potato News - North America
California Lawmakers Mull Buying Out Farmers To Save Water
After decades of fighting farmers in court over how much water they can take out of California’s rivers and streams, some state lawmakers want to try something different: use taxpayer money to buy out farmers.
New Trends Concerning US Potato and Potato Product Exports
Demand for US potato exports is strong in many markets, as many countries around the world relax restrictions and show signs of recovery from the pandemic. Overall US potato and potato product exports increased during the first three quarters of the marketing year (July 2021-March 2022) compared to the same period of the previous year.
The Potato Protein Market Trend for the Next Five Years
According to a Global Market Insights Inc research report, the potato protein market has grown in popularity over the years and is projected to exceed USD150m by 2027. Potato-based protein is a type of sustainable and cost-effective protein source derived from waste material generated during potato starch manufacturing.
Fertilizer prices to remain high as global supply tightens
Inputs designed to increase crop production, yields, and quality are not immune to volatility and high prices, the two common threads linking all 21 sessions comprising Sosland Publishing Co.’s 45th annual Purchasing Seminar in early June. For the first time, a breakout session at the seminar was devoted specifically to fertilizers with an outlook that prices will remain elevated for some time.
American Agriculture Proves Beneficial To Reducing Greenhouse Gas Emissions
A new analysis by the Environmental Protection Agency finds that American agriculture not only minimally contributes to overall U.S. greenhouse gas emissions, but the sector also sequestered more carbon in 2020 than the year before.
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.
Potato News - Overseas
Global supply turmoil could see British potato farmers switch to cereals or oilseeds
As Simon Roughneen reports in a news story for The Grocer, turmoil in world food commodity markets could lead to significant short-term changes to potato production in the UK and beyond, growers have warned, as the sector adjusts to soaring costs and volatile demand wrought in part by the Russian invasion of Ukraine.
Logistics News
Diesel Surges 16.4¢ a Gallon to Record $5.703
The national average price of diesel shot up 16.4 cents to settle at a record $5.703 a gallon, according to Energy Information Administration data released June 6.
National diesel average hits a new record high, for week of June 6, reports EIA
The weekly national average—at $5.703—climbed 16.4 cents over the $5.539 average, for the week of May 30, which was down 3.2 cents compared to May 23, at $5.571. The week of May 16 came in at $5.613, and the week of May 9 came in at $5.623, which was the previous high, for the national weekly average prior to this week’s tally.
Global average monthly container prices increase for the first time in 2022
For the first time this year in May, the average container prices globally have soared month on month at an average of 5.4% (from $2207 to $2330) for the 20 ft DC and by 15% (from $3800 to $4410) for 40 ft HC. However, the average container prices and the leasing rates continue to decline in China even as the country reopens after massive two months of lockdowns.
Food Industry News
The FAO Food Price Index fell for the second consecutive month in May
The FAO Food Price Index* (FFPI) averaged 157.4 points in May 2022, down 0.9 points (0.6 percent) from April, marking the second consecutive monthly decline, though still 29.2 points (22.8 percent) above its value in the corresponding month last year.
The future of food in the heart of America
“The next 10 years in food will make the last 50 look like it was going at a snail’s pace,” said Don Thompson, chief executive officer and founder, Cleveland Avenue, Chicago. “It’s going to be hyperaggressive and hyperactive.”
USDA Announces $2 Billion Supply Chain Initiative
The $2 billion proposal includes up to $300 million to help farmers who are transitioning to organic production; up to $75 million to support “urban agriculture” like community gardens; and up to $375 million to support independent meat and poultry plants to diversify the supply chain.
Retailers Resist Food Price Increases
Food retailers are increasingly pushing back on processors who try to impose price increases as inflation persists at double-digit rates.