US Egg Prices Rise 60% In A Year
Image Source: AP Photo/Erin Hooley
As demand for eggs has risen, US production has slumped. According to the USDA, nearly 58 million birds have been slaughtered due to the ongoing bird or "avian" flu epidemic, making it the deadliest outbreak in US history. You know the laws of supply and demand: the result is that US egg prices have more than doubled, increasing 60% from last year. Across US cities, the average price of a dozen eggs was $4.25 in December, putting pressure on professional and home cooks, especially during holiday baking season.
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.
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.
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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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Spanish Olive Oil Producers Devastated By Worst Drought Ever
Seafood Watch Group Lists New England Lobster As Seafood To Avoid
China Targets Global Fish Supply As It Owns Seafood Stocks Disappear
