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PLANT PROTEIN: Get to Know Players in the Plant Protein Market: Dao Foods
Dao Foods is a China-focused impact investment firm whose goal is to ultimately “reduce the consumer demand for industrial animal agriculture” through fueling startups “who are targeting the 400 million millennials in China with new, exciting, and delicious plant-based proteins”. The firm was founded by seasoned investors Tao Zhang and Albert Tseng alongside Beyond Meat investor New Crop Capital and the Good Food Institute.
In October 2020, Dao Foods announced a 3-year plan to invest in 30 Next-Gen Good Food Ventures using...
ANALYSIS: July Turkey Exports: Less Is More
As our day-to-day market canvassing efforts have suggested, July’s turkey export figures were a mixed bag with some countries increasing...
Traders Assess Suspension of Brazilian Beef Exports to China Due to BSE
Over the weekend, the agriculture ministry reported that Brazil has suspended beef exports to China after confirming two cases of “atypical” bovine spongiform encephalopathy (BSE) in two domestic meat plants. BSE, also referred to as mad cow disease, is a fatal neurodegenerative disease of cattle that is transmitted through contaminated feed. The two cases recently confirmed in Brazil were “atypical” since the disease appeared “spontaneously and sporadically, unrelated to the ingestion of contaminated food”, according to the agriculture ministry.
It is not yet certain when Brazilian beef exports to China will resume. The ministry stated there was no risk to animal or human health.
BSE was first diagnosed in 1986 in the United Kingdom and has since been detected in other countries. The first known case of BSE in the United States occurred in 2003 and resulted in the loss of most of the United States’ beef exports in 2004.
Brazil was the world's largest beef exporter in 2020. The indefinite suspension of Brazilian beef exports to China could be supportive of U.S. beef exports if the ban is not resolved quickly...
Starbucks Promotes Leo Tsoi to CEO of Starbucks China
Starbucks Coffee Company announced the promotion of Leo Tsoi to chief executive officer of Starbucks China. Serving as Starbucks China’s chief operating officer and president of Starbucks Retail for the last five years, Tsoi has led efforts to grow Starbucks footprint across the Chinese mainland to 5,200 stores across more than 200 cities today. He has engineered the development of a robust and diversified store portfolio by pioneering new store concepts, which have influenced new coffee-inspired lifestyles and further elevated third place experiences for Starbucks customers in China.
As one of the leading architects behind Starbucks China’s phenomenal growth since he rejoined the company in 2012, Tsoi previously served in various leadership positions, including...
ANALYSIS: The Impact of Labor Issues on Hams
Ever since the first COVID-19 shutdowns, labor-related conversion issues have plagued the US ham market. As more and more bone-in hams couldn’t be...
U.S. Poultry and Egg Exports Surged in First Half, on Pace for Record Year
The Covid-19 pandemic, an uncertain economy, and logistics problems like port closings and shipping bottlenecks haven’t slowed the tremendous demand for U.S. poultry and eggs around the world.
Exports of U.S. broiler chicken and shell eggs set records in the first half of 2021 and are on pace to break all-time marks for the year, according to the USA Poultry & Egg Export Council (USAPEEC), citing government trade data.
Total broiler export volume reached an all-time high for the January through June period, with Mexico, China, Cuba, and Philippines leading the way. Cuba, and Philippines set records for both...
Pork Quarterly Q3 2021: Looking for Growth Amid Uncertainties
Great volatility in Chinese hog and pork prices is rippling through the global market. China’s slaughter rates were unexpectedly high in Q2, pushing pork production up 35.9% YOY in 1H, according to official data. The sudden supply increase resulted in a sharp price decline and negative results in both farming and trading in 1H, pointing to low pork imports into China in Q3. While we expect hog and pork prices to rebound in Q3, the estimated high frozen pork inventory will impose a lot of downward pressure on prices. We expect the slowdown of imports in the coming months will reduce full year imports from 2020’s record levels by 10% to 20%. This will lead to a redistribution of pork trade in the global market and could place downward pressure on pork prices in exporting regions.
CBP Agriculture Specialists Prevent Smuggled Animal Products from Entering United States
U.S. Customs and Border Protection Agriculture Specialists (CBPAS) issued 246 emergency action notifications during the second quarter of 2021. Emergency Action Notifications (EAN) alert trade entities of non-compliance with Animal and Plant Health Inspection Service (APHIS) regulations. The EAN provides options for phytosanitary actions that must be taken to prevent the entry of plant pests, prohibited plant products, or animal products capable of introducing foreign animal diseases.
During the inspection of rail containers in International Falls, Minnesota, CBPAS intercepted more than 18,500 pounds of smuggled animal products. The animal products were seized because...
Awareness and Retention Rate for Plant-Based Protein on the Rise in China
According to China Plant-based Protein Topical Report from The NPD Group, plant-based proteins are gaining acceptance in China as Chinese consumers seek more protein in their diets, and plant-based foods become more available and appealing. Although plant-based protein currently has a small serving share compared to meat proteins in China, awareness has reached 90%; and the retention rate for plant-based proteins is on the rise, increasing from 53% in October 2020, to 68% in January 2021.
“There is no doubt that consumers in China view plant-based proteins as healthier alternatives to traditional meat protein,” said Gimantha Jayasinghe, Senior Vice President of APAC Foodservice at The NPD Group. “Though these products have a long way to go in terms of...
Livekindly Collective Launches in China with Two New Brands
Livekindly Collective, a collection of brands on track to become one of the world’s largest plant-based food companies, announced its launch in China with two new flagship brands, Giggling Pig and Happy Chicken. Both have been developed and manufactured locally to cater to Chinese consumer tastes and are the first brands created in-house by Livekindly Collective.
The two new brands cover a portfolio of seven innovative plant-based products based on beloved Chinese dishes, including...
Shake Shack Announces China Expansion
Shake Shack and licensee Maxim’s Caterers Limited are continuing the momentum in China with an expanded partnership to open 10 Shacks in new territories by 2031, including locations in Sichuan, Chongqing, Yunnan, Hubei, Shaanxi, Anhui, Henan and Guizhou.
The new agreement increases the company’s development commitment with Maxim’s Caterers Limited in China to 79 by 2031. There are currently 16 Shacks open in China, with 2021 new market entries so far in Macau and Shenzhen; Hangzhou will come...
Yum China Releases 2020 Sustainability Report
Yum China Holdings issued its 2020 Sustainability Report, which highlights the Company's commitment to sustainability and provides an overview of progress made in 2020 towards its sustainability goals.
In 2020, Yum China engaged internal and external stakeholders to complete a comprehensive materiality review. As a result, the Company resolved to focus efforts around three pillars: Environment, Food and People. Within these, Yum China identified 23 material issues in the value chain to work on as initial sustainability priorities. In the report, progress made in 2020 has been summarized in accordance with...
PODCAST: Seeing Green: High Imported Beef Prices, Cyber Attacks, and More
This week on Market Digest, Host Laura Zinger and CEO Joe Muldowney talk high prices for imported beef, Australia emerging from their drought, China searching for product, cyber attacks, supply chain issues, return to live events, and much more.
ANALYSIS: Q1 Chicken Exports End on a High Note
After a choppy start to Q1, the USDA’s most recent export figures lend credence to the increased confidence that buyers...
Pork Quarterly Q2 2021: Production Setbacks Slow Growth, Boosting Prices and Returns
Global hog prices are sharply higher in most markets, as processors scramble to find adequate supplies. Higher disease losses in key growing regions, along with the lagged impact of industry liquidation during the pandemic, have limited available hog supplies. Rabobank expects a gradual recovery in the herd, yet higher raising costs and demand uncertainty are expected to moderate the pace of growth. Lower production expectations have left the market short of pork, just as demand is beginning to strengthen. The imbalance is driving pork prices sharply higher in many markets, which is slowly being passed through to consumers, contributing to overall inflationary trends.
China: Herd losses due to new ASF outbreaks and health challenges are slowing the recovery. While below earlier expectations, the sow herd is flat vs. 2020 and will expand through year-end as...
Yum China Reports First Quarter 2021 Results
Yum China Holdings reported unaudited results for the first quarter ended March 31, 2021.
Impact of COVID-19 Outbreak and Mitigation Efforts
Yum China reported substantial year-over-year growth in the first quarter, as the Company began to lap prior year periods that were impacted by COVID-19. System sales growth was mainly attributable to same-store sales growth, new unit contribution and substantially fewer temporary store closures. Operating Profit growth was further driven by lower commodity prices and productivity gains.
First quarter sales were impacted by regional resurgences of COVID-19 before the Chinese New Year and tightened public health measures across China. The tightened measures and...
ANALYSIS: Although February Pork Exports Declined; Strong Demand Lingers
According to the most recent USDA Pork Export Report, exports of U.S. pork remained generally strong in February, even as...
PODCAST: UK Beef Chats Episode 13
This week on UK beef chats, Mike Nesbitt and Gary Morrison explain how demand for beef imports are on the rise in the UK, how Chinese demand is causing prices to rise, and more!
ANALYSIS: Commodity Prices Surging Higher; Is This the Next Supercycle?
Commodity prices have moved higher coming out of the initial phase of the pandemic with the price trough seen in...
Australian Beef Seasonal Outlook: Green Grass and Empty Pens
With breeding cattle inventory recovering from the lowest levels in over 30 years, there’s a unique opportunity to assess and then act on the future for the Australian beef industry. A number of challenges currently confront the Australian beef industry, including high cattle prices, low supplies, and China trade access. Australia’s position in the global protein world needs to be considered in rebuilding the herd.
Is Australia to be a supplier to high-quality niche markets, commodity supplier (of lean beef) to global trade, exporter of live cattle, or exporter of value-added beef to trade markets? “Any or all of these options may apply, but choosing one sets a path for the future. Decisions taken this year are not just about...
Beyond Meat Opens Manufacturing Facility in China
Beyond Meat announced the grand opening of its new state-of-the-art manufacturing facility in the Jiaxing Economic & Technological Development Zone (JXEDZ) near Shanghai. As Beyond Meat’s first end-to-end manufacturing facility outside the U.S., the cutting-edge plant in Jiaxing is expected to significantly increase the speed and scale in which the company can produce and distribute its products within the region while also improving Beyond Meat’s cost structure and sustainability of operations.
Designed to serve China’s growing plant-based meat market, the facility will produce Beyond Meat’s innovative range of plant-based pork, beef and poultry products, including Beyond Pork™, the company’s first innovation created specifically for the Chinese market. By producing closer to the consumer and...
Rong Shing Trading Recalls Ineligible Beef Products Imported from China
Rong Shing Trading Inc., a Brooklyn, N.Y. firm, doing business as Double R Trading Inc., is recalling approximately 3,365 pounds of Chinese style hot pot base products containing beef tallow. The products were imported from the People’s Republic of China, a country ineligible to export beef to the United States, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.
The Chinese style hot pot base products were imported on or around February 14, 2020. The following products are subject to recall...
Urner Barry’s Consulting Division to Launch Egg Market Forecasting Report
US Foods Fall Scoop Designed to Help Operators Appeal to Gen Z and Millennial Diners
Urner Barry's Fall 2021 Reporter Issue Released; Read It Online For Free Now
Urner Barry Releases September Soy & Wheat Report
The Executive Conference is Back and Better Than Ever This Year—and There's Still Time to Register!
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