Indulgent foods, including chocolates, confectioneries, savory snacks and ice cream, are likely to see a notable dip in retail sales as a result of inflation, according to market research firm GlobalData.
Cases of highly pathogenic avian influenza (HPAI) emerging this week in California, Indiana, Minnesota and North Dakota, including in a Hormel Foods Corp. flock, have executives at the company on edge. Outbreaks earlier this year affected the company’s Jennie-O Turkey Store business, and the new cases may have a lasting impact.
Rabobank’s latest beef report for the third quarter, noted that the global beef market remains strong, with most beef retail prices trending upward in the previous quarter. Angus Gidley-Baird, senior analyst for Animal Protein at Rabobank, questioned how long the trend will continue.
More consumers buying plant-based alternatives instead of beef could reduce carbon dioxide emissions, but it also could lead to job losses in agriculture, according to a study appearing in the August issue of Lancet Planet Health.
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