“We’re looking at everything,” said Donnie D. King, president and CEO.

The report shared that food and agriculture industries and their suppliers contribute over $8.6 trillion to the U.S. economy.

The organic market increased 4% when compared to 2021 despite headwinds such as inflation, supply chain disruptions and a labor shortage.

Executives of IFF expect volume levels to improve once the New York-based company completes its inventory reduction program. 

Bimbo said the company benefited from strong sales performance and lower distribution and administrative expenses.

Pilgrim’s US business saw improvement, thanks to Small Birds and Prepared Foods, the company said. Case ready drove growth above industry averages with key customers.

Overall income at ADM climbed 11% in the first quarter of fiscal 2023.

Of shoppers who are concerned about rising food prices, only 32% reported in February that they are buying fewer items as a strategy to address rising prices, down from 41% in October.

The demand for shrimp has cooled and will take some time to rebound while salmon demand remains robust.

IFF recommends company shareholders do not tender their shares in response to an unsolicited mini-tender offer from TRC Capital Investment Corp. to purchase up to 1.5 million shares of IFF’s common stock.