Week in Review
[4th August 2022]
In Aotearoa, Fonterra Co-operative Group announced that their Brightwater milk powder plant near Nelson will be shut down April next year as part of their long-term strategy to match both consumer demand and available milk supply. Recent reports from the BBC show that McDonald’s cheeseburger has increased in price for the first time in 14 years due to inflationary pressures. Restaurant Brands reported to NZX they expect their half year net profits to be between NZD$14-16 million, down from prior years NZD$34.5 million. Federated Farmers biannual survey on farmers outlooks of the industry found that confidence is at the lowest since surveying began in 2009. The top concerns identified by farmers were climate change policy, the emissions trading scheme, and regulatory/input costs.
Internationally, we saw the first shipment of 26,000 tonnes of grain leave Ukraine heading to Lebanon. Ny-Alesund, a small town on the island of Spitsbergen in Svalbrad, Norway, is recorded to have some of the cleanest air in the world. The town’s residents are predominantly scientists measuring greenhouse gas levels from the Zeppelin Observatory base. New types of wind-powered pollution are causing concern to scientists including methane levels and microplastics in snow samples.
Week in Review Stories
Foresight Focus Series
KPMG Propagate Manager Paulette Elliott shares a brief deep-dive into the growing sector of Pet Food.
Highlighting innovations from Pawsecco dog wine to personalised pooch nutrition, Paulette outlines why New Zealand should continue to consider the added-value product opportunities of serving four-legged consumers.
‘We’re drinking plastic!’: Microplastics found in Nestlé and Danone bottled waters [28 July, Food Navigator]
A recent study released by French NGO Agir pour|’Environment found that 78% of France's best-selling bottled water brands contained microplastics. Measuring less than five millimetres in length, the number of microplastics in each bottle ranged from as little as one per litre to a high of 121 per litre. Scientists are not sure yet what the harmful effects of microplastic are on living organisms, but Agir pour|’Environment is urging regulators to ban the use of plastic bottles.
Tags: International, Health & Safety
Trade & Exports Spotlight
Diageo sales up 20% amid thirst for ‘super-premium’ spirits [28 July, The Guardian]
International alcohol company Diageo reports a 20% increase in super-premium spirits and an overall sales increase of 21% over last year following the reopening of international borders and bars/clubs. Diageo CEO Ivan Menezes commented that while he is proud of the company’s current performance, recent global pressures may prove challenging.
Tags: Trade & Exports
Flavor by a nose: How Air Up uses scent to make water taste better [28 July, Food Dive]
German-based company Air Up, a specially designed water bottle company that uses smell to give water the illusion of taste, launches in the US following success in Europe. Designed to incentives people to drink more water, the bottle uses flavour pods that capitalise on the 80% of our taste perception that is controlled by smell. Largely operating as direct to consumer business, Air Up has seen revenue increase from USD$20 million in 2020 to USD$90 million in 2021.
Tags: Food Tech, International
How Singapore is turning multi-storey car parks into farms [1 August, BBC News]
With only 10% of its food produced domestically, Singapore is seeing some innovators turning the top of car park buildings into farms. One car park farmer reported they supply nearby retailers with up to 400kg of vegetables a day; however, high setup and ongoing costs make turning a profit difficult without government subsidies. To combat the country’s heavy reliance on imported foods, Singapore aims to produce 30% of its food domestically by 2030.
Tags: Farming Systems, International, Food Security
Heartbreaking season as fruit left to rot [3 August, Rural News]
Labour shortages and staffing issues due to covid have forced some fruit growers to leave fruit to rot due to a lack of hands available to pick the fruit. Hawke's Bay Fruitgrowers Association Graeme Hodges commented that housing was also an issue as even if pickers could be found, there were not enough places to accommodate them. Post-harvest is also presenting further problems with a shortage of truck drivers. Hodge describes the whole ordeal as heart-breaking.
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