Feeding America Overtakes United Way As Largest US Charity
Image Source: Courtesy of Feeding America
The pandemic era has been defined by food supply chain disruptions, upending everything from farms and slaughterhouses to supermarkets and restaurants. As a result, Feeding America, a food bank network, has claimed the #1 spot on Forbes’ 2022 list of America's Top 100 Charities. United Way, another charity network, held the #1 spot off and on for decades, but the pandemic's acute effects on the food world have refocused charitable giving on providing food for the hungry. I don't know about you, but this little factoid gives me hope.
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US Blocks Domino Sugar Imports, Citing Forced Labor
Image Source: Erika Santelices/Agence France-Presse/Getty Images
Central Romana Corp is the largest landholder and employer in the Dominican Republic, exporting more than 200 million pounds of sugar annually to the US, widely sold under the Domino brand. For decades, Central Romana has been under scrutiny for abusive working and living conditions, withheld wages, excessive overtime, child labor, and other forced labor violations. To incentivize the company to clean up its act, US Customs and Border Protection has now blocked Central Romana sugar shipments, a move sure to drive up sugar prices. Expect holiday baking to become a bit more expensive this season.
Top US Grocers, Kroger And Albertsons, Pursue $24.6 Billion Merger
The two largest US grocers have agreed to create a corporate behemoth that would reshape the supermarket landscape. The two chains operate nearly 5,000 stores with revenue of more than $209 billion. Kroger claims the acquisition will reduce food prices for consumers, but lawmakers remain skeptical, especially as inflation continues. Three US attorneys general filed a federal lawsuit and prominent politicians have sent opposition letters to the Federal Trade Commission to block the deal. If the FTC and Justice Department approve the merger and it survives court challenges, the deal would close in early 2024. The key questions: Will this acquisition benefit consumers? Does it violate antitrust laws? We shall see in the coming months.
Ukraine War Creates Worst Global Food Crisis Since 2008, Says IMF
Image Source: Reuters/Umit Bektas
About 345 million people now face life-threatening food shortages, according to the International Monetary Fund. The primary cause? Grain and fertilizer supply chains disrupted by the Ukraine war and climate change. Price hikes have increased import costs for the 48 most vulnerable countries by $9 billion. Its recommendations include eliminating food export bans and increasing humanitarian assistance by $1.3 billion through the World Food Programme.
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China Targets Global Fish Supply As It Owns Seafood Stocks Disappear
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Five Countries, Five Meals: How The World Is Adapting To Food Supply Challenges
Food Prices Fell Again In July, Says UN Agency
Image Source: Reuters
The UN tracks the most globally traded food commodities through its world food price index. The index hit a record high in March and has been gradually dropping since. In July, vegetable oil, sugar, dairy, meat, wheat, and corn prices all fell month-over-month, partly due to a deal reached between the UN, Ukraine, Russia, and Turkey to unblock grain exports from the Black Sea. While lower food prices are welcome, the July numbers are still 13.1% higher than a year earlier, and consumers are still reeling from higher-than-normal food costs.
