Welcome to Food Week: February 28. The tragedy in the Ukraine is top of mind and with it comes impacts on trade, wheat, energy and other commodities. Sanctions haven’t impacted US, not even the financial markets very much, as many companies distance themselves from Putin’s regime. Coke and Pepsi, haven’t and it will be interesting to see what happens there. Enjoy.
- Food Week February 28 saw a huge jobs report.
- One million flee the war in Ukraine.
- Many companies have pulled out of Russia in light of Ukraine invasion but neither Coke nor Pepsi are among them.
RETAIL AND CONSUMER
- Amazon is getting away from brick and mortar in other businesses but not food, where the line between the parent and Whole Foods is increasingly blurred.
- Costco sales tapered off from torrid pace.
- 72% of Consumers trying to eliminate or reduce sugar consumption.
- Target targets an hourly wage for workers at $24.
- However about half a million Kroger employees are either homeless or food insecure.
RESTAURANTS AND FOODSERVICE
- Jose Andres continues his walk towards sainthood – he is in the Ukraine feeding refugees.
- US Rep Joe Morelle pushing for renewal of Restaurant Revitalization Fund.
- Native Chef Pyet DeSpain raising the profile of indigenous cuisine.
FOOD SUPPLY CHAIN
- Sanctions have all but cut off Russia form the world economy. Logistics are doing the same to Ukraine.
- As a result, Wheat futures soared as the two largest European producers are Russia and Ukraine.
- Food manufacturing employment way up.
- National Seafood Council developed to promote American seafood. But there are doubts about how seriously it is taking sustainability issues.
- Shipping industry reporting 1000% increase in profits. Much like commodity food, there is little competition.
FOOD WEEK LAGNIAPPE
- Food week February 28 brings a ranking pepper mills. Cause why not?
- St. Patrick’s day horror stories from servers and bartenders.
- The century long war between American Budweiser and Czech Budweiser.
- 12 world important restaurants run by women. Included is NOLA’s Dooky Chase’s, run by Leah Chase until her death in 2019.