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Yum China Releases 2019 Sustainability Report
Yum China Holdings, Inc., issued its annual Sustainability Report, which highlights its commitment to sustainability and dedication to giving back to the community. It is the Company's third annual Sustainability Report since becoming an independent, publicly-traded company in 2016.
The new report outlines Yum China's sustainability strategy and its accomplishments in 2019, underscoring the importance of sustainability, innovation and culture to the Company's operations. The report also reflects Yum China's commitment to developing goals and taking actions in line with the Sustainable Development Goals to support the United Nations 2030 Agenda.
"As China's largest restaurant company, we are committed to working with stakeholders across the value chain to promote economic, social, and environmental sustainability. This is crucial not only for...
ANALYSIS: Chicken Exports Spring Forward as China Makes a Comeback
The latest release of the USDA’s export figures help to paint a strong underlying picture to our trade relations with key export partners, and marks a significant return of...
Imports to See Double-Digit Annual Declines Even as Stores Begin to Reopen
Imports at major U.S. retail container ports are expected to see double-digit year-over-year declines this spring and summer as the economic effects of the coronavirus pandemic continue, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
“Factories in China are largely back online and stores that closed here in the U.S.. are starting to reopen, but volume is far lower than what we would see in a ‘normal’ year,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Shoppers will come back and there is still a need for essential items, but the economic recovery will be...
Cargill Launches New Plant-Based Products in China
Cargill announced it is launching a series of plant-based products in China, bringing more quality protein options to the Chinese market. The launch includes products for foodservice and a consumer-facing brand PlantEver. PlantEver is expected to debut in the Chinese market at the end of June and be available online and offline. “Our plant-based protein products were developed through extensive consumer engagement and research. We combine our knowledge and expertise in R&D and innovation to create some of the best tasting products in the plant-based category,” said Jackson Chan, managing director of Cargill Protein China. “The launch is just the beginning, we look forward to continuing to innovate. Our customers in China can count on a partner with...
Yum China Reports First Quarter 2020 Results
Yum China Holdings, Inc. reported unaudited results for the first quarter ended March 31, 2020.
Impact of COVID-19 Outbreak and Mitigation Efforts
As the COVID-19 outbreak progressed, Yum China further heightened its focus on safeguarding the health and safety of its employees and customers. The Company implemented stringent health measures at its restaurants and workplaces, and provided extended healthcare and other support to employees.
First quarter operations were significantly affected by the outbreak. Working closely with local health authorities to safeguard the public, the Company began...
Rabobank Pork Quarterly Q2 2020: COVID-19 Crisis Disrupts Global Pork Industry
Rabobank expects continued volatility in pork prices in 2020, as disruption in local markets is balanced with product shortfalls in Asia.
“The combined effect of near-term demand destruction and processing interruptions due to labor constraints has weakened producer returns and will slow production growth. Weaker GDP growth could further pressure pork demand, compounding an already challenging operating environment,” according to Christine McCracken, Senior Animal Protein Analyst.
China: Hog price strength reflects slow herd recovery and demand recovery
Hog prices remain elevated on African swine fever (ASF) herd losses and a gradual recovery in the production sector. Producer interest in rebuilding remains...
Rabobank: China's Gradual Recovery from Coronavirus
As coronavirus eases across China, life is slowly returning to normal. Different sectors are recovering at different paces, but the impact of the disruption to foodservice and food retail will be ongoing. The slow recovery of China’s foodservice industry and the uplift in food retail sales can give other countries a glimpse of what might happen once the worst of the pandemic has passed.
After nearly two months of lockdowns, life in China is slowly returning to normal. Ministry of Commerce data shows 99% of large manufacturing enterprises have resumed operations. However, the coronavirus changed, at least temporarily, some consumer habits, especially where and how to eat. A Nielsen survey indicates 86% of Chinese consumers said they would...
Life in the Times of Coronavirus: How China is Reopening
Editor's Note: Amy Zhong lives in Qingyuan city of Guangdong province and is a regular contributor and correspondent of Urner Barry's SeafoodNews.com. Below is her account of living in China during the coronavirus outbreak and how the country is working to reopen.
This is an unusually bad Spring Festival, and it has witnessed the beginning of a period of uncertainties and suffering. Previously hustling streets in China were mostly empty during the holiday, and people no longer splurged to celebrate the most important festival. Now, this healing oriental country is undergoing some changes.
Everything still seemed normal to me around mid-January. Though I heard news about some virus hitting Hubei, I had no idea that it would be that serious...
U.S. Senators Call for China to Close All Operating Wet Markets
A bipartisan delegation of U.S. senators has pushed China to shut down each of its operating wet markets during the COVID-19 pandemic.
Senators Chris Coons (D-Del.) and Lindsey Graham (R-S.C.), alongside Mitt Romney (R-UT) sent a letter to the Chinese Ambassador to the United States Cui Tiankai urging for the closure of high-risk markets throughout the country.
“We write to urgently request that China immediately close all operating wet markets that have a potential to expose humans to health risks through the introduction"...
ANALYSIS: February Turkey Exports: Bittersweet
With February marking the second month of YoY reductions in total turkey export volume, it's safe to say that early year selling sentiment has been...
Estimated March Imports Hit Five-Year Low, Declines Expected to Continue Amid Pandemic
Estimates show that imports at major U.S. retail container ports dropped to their lowest level in five years in March, and imports are projected to remain significantly below normal levels through early summer as the coronavirus pandemic continues, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Even as factories in China have begun to get back to work, we are seeing far fewer imports coming into the United States than previously expected,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Many stores are closed, and consumer demand has been impacted with...
Trucking Association Urges Government to Make COVID-19 Testing Available for Truck Drivers
Truck drivers are some of the essential workers keeping the supply chain moving during the novel coronavirus (COVID-19) pandemic. However, according to reports, there have been issues regarding getting products to COVID-19 hot spots. With more truckers getting placed on pandemic sick leave, the Owner-Operator Independent Drivers Association (OOIDA) is calling on President Trump to make coronavirus testing more readily available to those safeguarding the nation’s supply chain.
“Small-business truckers and professional drivers are the vital link to it all...
ANALYSIS: Pork Bellies Collapse to 1999 Levels
The last time pork bellies were trading at this level, you were probably more concerned with Y2K than what to do with excess bellies. We’re forced to turn the history books back to 1999 to see...
Restaurants in America Offer Contactless Delivery Similar to China's Model
During the wake of the coronavirus outbreak in China, the country began taking extraordinary steps to prevent the spread of the virus by introducing contactless delivery services to keep customers and employees safe. As part of the process, customers order remotely via mobile phones or computers, and workers seal the meals in bags and place them in a pre-determined location without any human contact.
Some reports stated that these contactless delivery options also come with a card that provides the name and temperature of the person who made the food, as well as the person who delivered it. Quick service chains taking these precautions in China include McDonald's, Starbucks, and...
USDA Announces Expanded Red Meat Access to China as Phase One Trade Deal Moves Forward
The United States Department of Agriculture (USDA) and the United States Trade Representative (USTR) announced continued progress in the implementation of agriculture provisions in the U.S.-China Phase One Agreement.
The new actions are led by increased access for red meat and poultry into China. According to the statement, U.S. beef producers, for the first time since 2003, will have access to nearly all beef products into China.
An expansion of pork products that will be allowed into Chinese ports was also included in the...
China to Encourage Local Governments to Stockpile Poultry, Aquaculture Products
China said on Wednesday that it encourages local governments to temporarily stockpile poultry and aquaculture products in a bid to support the farming sectors after the unprecedented coronavirus cut production and supplies.
China will increase fiscal and tax support for poultry and aquaculture producers to help them survive the impact from coronavirus containment measures, according to a statement jointly issued by the state planner and the country's agriculture ministry.
Lockdowns on people and goods to curb the outbreak has disrupted logistics and production in the farming sector, threatening...
USMEF Statement on Expanded Access to China for U.S. Beef and Pork
The USDA Food Safety and Inspection Service (FSIS) has updated its Export Library for China to reflect expanded access for U.S. beef and pork. These changes were among the provisions negotiated in the U.S.-China “Phase One” trade agreement.
U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom issued the following statement:
"This is an exciting day for the U.S. beef and pork industries, which have waited a long time to have more meaningful and reliable access to China, and USMEF thanks USTR and USDA for their tireless efforts to negotiate and implement the...
Yum China Provides Business Update
Yum China Holdings, Inc. updated stakeholders on the impact of the coronavirus (COVID-19) situation.
The current COVID-19 situation is one of unprecedented scale and impact, and first and foremost we want to give thanks and appreciation to all the medical personnel, government workers, volunteers and other frontline workers who have put public health and safety above their own in fighting this global pandemic. At Yum China, our commitment has been to safety above all else -- safety for our employees, as they operate in this difficult environment; and safety for our customers, as they...
Rabobank: Coronavirus and African Swine Fever to Shake Up Global Poultry Markets
The outlook for global poultry in 2020 will be materially affected by the current coronavirus pandemic, and the ongoing African swine fever (ASF) challenges in the pork industry will bring additional complexity to global markets.
Rabobank expects a further drop in pork production in Asia this year, which could lead to potential growth in local poultry production and international trade, if rising supply chain challenges can be managed. As coronavirus is now expected to cause a global economic slowdown, poultry demand could...
ANALYSIS: COVID-19 and the Pork Market
Analyzing a situation at the beginning or in the middle of a market-moving event is never an easy task, and with Coronavirus, this fact rings truer than ever. In truth, it has not been that long since...
PODCAST: Have We Peaked? Coronavirus and African Swine Fever in China
This week Laura sits down with Todd Thurman of Swinetex to discuss the African swine fever situation in China and restocking efforts. With COVID-19 complicating an already serious situation, what can the pork industry expect...
ANALYSIS: Keeping Tabs on YoY Chicken Prices
With Q2 just around the corner, we thought it would be a good opportunity to gain some perspective on the YoY performance of some key items within the chicken complex...
Coronavirus Impacts Meat Consumption in China
One of the many effects from the coronavirus outbreak in China is the impacts it has had on food consumption and the demand for meat.
At the height of the outbreak, nearly all foodservice establishments were closed, with some attempting to resume business now. However, restaurants that have managed to remain open are facing a sharp decline as consumers are staying indoors. A few restaurants switched to a delivery-only model during this time to help cash flow, but consumers are still hesitant of ordering and interacting with delivery drivers.
According to Darin Friedrichs, Senior Asia Commodity Analyst at INTL FCStone, consumer sentiment has been improving as China continues to...
Rabobank: China's Growing Appetite for Meat Alternatives
‘Meat alternative’ has become a global buzzword since Beyond Meat conducted its stellar Nasdaq IPO. Since then, many meat alternative startups began looking into the Chinese market. The rise of the numerous Chinese startups, such as OmniPork and Zhenmeat, hinge on the belief that China will be a potential consumption market for meat alternatives.
Meat alternatives have been discussed a lot by the public media in the past year. The global frontrunners are US-based companies making beef-like burgers with plant-based ingredients, like Beyond Meat and Impossible Foods. Since Beyond Meat’s IPO, China has witnessed nearly 100 plant-based brands emerge in cities like...
Impossible Foods Launches Direct-to-Consumer Sales and Accelerates Retail Expansion
Update: List of Current Plant Closures Due to COVID-19
Uncertainty Surrounds the Reopening of Businesses
The Trip Back to 'Normal' Slaughter Levels
Consumer Confidence Index Stabilizes in May
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