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Rabobank's Poultry Quarterly Q4 2020: The Challenge of Balancing Volatile Markets
Moving through Q4 2020 and into 2021, the global poultry industry will operate in a volatile market context, with pressure coming from foodservice and wholesale markets. Possible new waves of Covid-19 will add to the market ups and downs, and the impact of a deep economic crisis will make markets more price-driven.
“Over the whole year, we expect a slight increase in global poultry production, mostly as a result of poultry expansion in China and Vietnam, where African swine fever has reduced pork availability, and also from expansion in the US. The rest of the world will be...
China Declares War on Waste in Food Catering
Ongoing anti-food waste campaigns in China aim to reduce food loss in catering. Although China seems to have no immediate worries about food shortage, the coronavirus pandemic, the geopolitical turmoil, and the escalating trade tensions with leading exporters have the potential to restrict China’s access to edible oil and protein meals. China is highly dependent on these imports, often in the form of oilseeds, which are then domestically processed.
Based on Rabobank’s analysis, eliminating waste in food catering (including restaurants, group dining and food deliveries) could make up to 5% of the nation’s soybean imports (5m metric tons) and 6% of the palm oil imports (0.4m metric tons) unnecessary. In addition, 10m metric tons of feed grains, mostly corn, could also be ‘saved’ this way. As China’s corn is experiencing...
ANALYSIS: As Temperatures Rose, So Did Turkey Export Tonnage
Following three consecutive month-over-month reductions in total turkey export tonnage, July bucked the trend with outward volume increasing by 9.5 million pounds or 25.2% above...
Study Sheds Light on U.S. Consumer Preferences on Conventional and Alternative Protein Products
In the past six months, players within the plant-based protein industry have been dazzled by the performance of their alternative burgers, patties, nuggets, and sausages. As reported by the Good Food Institute (GFI) overall plant-based product sales increased to a peak of...
China and Japan Suspend Pork Imports from Germany Following African Swine Fever Case
According to the German Food and Agriculture Ministry, China and Japan have suspended imports of pork and live pigs from Germany after a case of African swine fever was confirmed in a wild boar near the Polish border in the eastern state of Brandenburg, Germany. This comes as South Korea banned imports of German pork last week.
Pork imports of 40,230 tons from Germany last year accounted for about 3.3% of Japan's total imports of pork, the ministry reported. Japan did not import any live pigs last year, down from six in 2018. China's ban on imports comes as the country deals with its own spread of the disease. German pork exports to China total about...
Imports Spike as Economy Continues Recovery and Retailers Stock Up for Holidays
Imports surged to unexpected high levels this summer and may have hit a new record as the U.S. economy continues to reopen and retailers stock up for the holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“It’s important to be careful how much to read into these numbers after all we’ve seen this year, but retailers are importing far more merchandise for the holidays than we expected even a month ago,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Some of these imports are helping replenish inventories that started to run low after...
Impossible Foods Launches Plant-Based Sausage in Hong Kong
Impossible Foods is rolling out Impossible Sausage Made From Plants in Hong Kong, the first international market for the award-winning, plant-based patty.
Impossible Sausage is the company’s first all-new product since the 2016 debut of Impossible Burger. California-based Impossible Foods launched Impossible Sausage to much fanfare at the Consumer Electronics Show in January. Within six months, the patties have become available at more than 22,000 locations throughout the United States.
Starting today, Hong Kongers can buy Starbucks’ Maize Impossible Sandwich at...
Beyond Meat Announces Agreement to Begin Production in China
Beyond Meat has signed an agreement with Jiaxing Economic & Technological Development Zone to design and develop manufacturing facilities in the JXEDZ, including a state-of-the-art production facility to manufacture plant-based meat products including beef, pork and chicken under the Beyond Meat brand in China. The production facilities will be located in the JXEDZ, a historic and commercially important development zone with ready access to Shanghai.
Beyond Meat, Inc. will be the first multinational company focused solely on plant-based meat production to bring its own major production facility into...
Yum China Announces Pricing of Global Offering
Yum China Holdings, Inc., China's largest restaurant company in terms of 2019 system sales, announced the pricing of its global offering of 41,910,700 new shares of common stock, which comprises an international offering and a Hong Kong public offering. The final offer price for both the international offering and the Hong Kong public offering has been set at HK$412.00 per Share (or approximately US$53.16 per Share).
The Company has set the Offer Price by taking into consideration, among other factors, the closing trading price of the shares on the New York Stock Exchange on September 3, 2020 (the last trading day before pricing). Subject to approval from The Stock Exchange of Hong Kong Limited, the Shares are expected to begin trading on the Main Board of...
Rabobank Beef Quaterly Q3 2020: New Faces Shaping Future UK Beef Imports
Once outside the European bloc, the UK is expected to become the fifth or sixth largest beef-importing country. Consumer acceptance and non-tariff barriers will play significant roles in determining which countries ultimately supply the UK beef market in the future.
Brexit trade talks between the UK and EU continue to progress. “While pure economic reasoning and geopolitics normally play strong roles in trade negotiations, we believe that, in the case of the UK, consumer acceptance and non-tariff barriers will be equally significant in determining...
Yum China Opens Taco Bell Store in Beijing
Yum China Holdings, Inc. announced the opening of a new Taco Bell store in Beijing, its first store in the capital city. The new store, located in Beijing's Liangmaqiao district, will open its doors to the public today.
"After much anticipation we are thrilled to bring this iconic brand to Beijing. The new store integrates Taco Bell's signature food and spirit into the local community and we are excited to welcome new and...
Maple Leaf Foods Provides Update on COVID-19 at Brandon Plant
Maple Leaf Foods Inc. is continuing its rigorous safety efforts at its Brandon, Manitoba, plant to prevent workplace transmission amidst the recent COVID-19 cluster occurring in the community. The plant continues to operate safely, and Public Health experts have said on numerous occasions that there is no evidence of workplace transmission occurring at the plant.
The Company is extending its efforts to reduce spread of COVID-19 within the community by reinforcing the importance of precautions such as social distancing and by making 500,000 free masks available to community members.
Operationally, Maple Leaf Foods has temporarily suspended pork exports to China on a voluntary basis due to recent protocols adopted by...
WH Group Announces 2020 Interim Results
WH Group Limited announced the unaudited consolidated interim results of the Company and its subsidiaries for the six months ended June 30, 2020.
• Revenue increased by 12.2% to US$12,481 million• Operating profit increased by 20.9% to US$925 million• Profit attributable to owners of the Company, before biological fair valueadjustments, increased by...
ANALYSIS: Stairs Going Up, Elevator Going Down
While 2020’s chicken market has certainly had its fair share of ups and downs recently, it has also brought with it...
Yum China Reports Second Quarter 2020 Results
Yum China Holdings, Inc. reported unaudited results for the second quarter ended June 30, 2020.
Impact of COVID-19 Outbreak and Mitigation Efforts
Second quarter operations improved since the COVID-19 outbreak. More than 99% of stores in China are now open, with sales and profits trending unevenly. Sales improved sequentially in April and May but softened in June. Sales were primarily impacted by significantly reduced traffic at transportation and tourist locations, delayed and shortened school holidays and resurging regional infections. These factors and the lingering effect of COVID-19 continue to...
Rabobank Pork Quarterly Q3: More Uncertainties Ahead
Covid-19 brings many uncertainties to the global pork market. With various disruptions to the supply chain, Rabobank has revised down pork production for 2020 in major producing countries.
“Labor shortages, operational suspensions, soft demand, and channel shifting will force industry players to increase automation, adopt digitalization, improve plant working conditions, streamline processing, and integrate along the supply chain in order to...
ANALYSIS: Turkey Exports in May: A Sign of the Times
Closely aligned with the real-world trade experiences of turkey market participants, May not only marks the second consecutive month of...
First Exports of UK Beef To the USA in 20 Years Underway
A Snapshot of Plant-Based Protein Growth Amid the Pandemic
Beyond Meat to Expand Walmart Distribution
Rabobank's Poultry Quarterly Q4 2020: The Challenge of Balancing Volatile Markets
Sysco Announces Launch of New Menu Concepts
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