Market News
The attention of America turned to the damage caused by the record-setting wildfires that ravaged the Texas Panhandle in late February, including the Smokehouse Creek fire, with an estimated $102 million in growing losses associated with cattle ranching. More than 85% of Texas’ cattle industry, worth $15.5 billion – about 18% of the U.S. industry as a whole – is concentrated in the state’s panhandle.
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LA Foods keeping a close eye on Port of Baltimore Bridge crisis (3/28/24)
East Coast to Midwest buyers relying on goods shipped via the Port of Baltimore face potential cost hikes following the collapse of that city’s Francis Scott Key Bridge. The American Trucking Association estimates that 4,900 trucks daily, carrying an annual average of $28 billion worth of goods, will now require rerouting, escalating expenses for shippers and consumers alike.
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Container shipping rates for crucial global trade routes have surged due to concerns about prolonged disruptions in the Red Sea and inflation. The increase is linked to U.S. and UK airstrikes on Yemen, as fears grow over the impact on global trade in one of the busiest sea routes globally.
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Can The Simple Tomato End Hunger Through The World (And in Space)? (1/12/24)
It could turn out that tomatoes may be the sustainable answer to tackling world hunger. In a paper published last September in the journal Sustainable Food Technology, scientists from Japan proposed that Euglena gracilis, an edible microalgae with high nutritional and functional content, could easily and quickly be cultivated in tomato juice.
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Northwest faces unprecedented potato glut; 165,000 tons set for destruction. (11/6/23)
Whole Foods Market’s Trends Council has revealed the top 10 anticipated food trends for 2024, offering valuable insights for customers of wholesale food distributors. These trends, identified in their ninth-annual predictions report, are expected to shape the industry in the coming year.
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What’s Next: Whole Foods Predicts The Coming Food Trends. (10/31/23)
Whole Foods Market’s Trends Council has revealed the top 10 anticipated food trends for 2024, offering valuable insights for customers of wholesale food distributors. These trends, identified in their ninth-annual predictions report, are expected to shape the industry in the coming year.
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The global olive oil industry faces a turbulent 2023 as climate change wreaks havoc on olive crops. (10/4/23)
Reports suggest a potential 40% drop in this year’s harvest due to a heatwave-induced drought, particularly affecting Spain, a significant player in the global olive oil supply chain. It’s not that these products do not exist, it is just that the continued high demand appears that it will out pace supply once again.
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