Welcome to Food Week April 4 – 11, 2022. Everything is high. Eggs, gas, avocados. Everybody is a jerk. (Except you.) But at least the Jamaican kind of jerk is good for you. Everyone who drinks coffee will live longer. And who doesn’t love Chocolate bunnies? Nobody. Enjoy!
MACRO
- You didn’t imagine it – people did start behaving like jerks because of the pandemic.
- Gas prices are high, but only somewhat because of Russia. Suppliers limiting supply as they rake in profits.
- The ‘Great Resignation’ was caused by… opportunity and economic growth, And it wasn’t even all that unusual.
RETAIL AND CONSUMER
- Egg prices typically rise before Easter but this year Avian Influenza is making it much worse.
- Walmart raising pay and offering training for drivers as it works through labor shortages.
- Amazon dives deeper into ‘Just Walk Out‘ checkout-free stores.
- The fact that this story says on-line grocery purchases are between 7 -15% of sales tells me two things: First they really need better metrics; that’s a pretty big range. And, secondly, that it has grown substantially during COVID. But will it continue to grow and how fast?
RESTAURANTS AND FOODSERVICE
- Door Dash has proven good at two things: raising money and securing market share. Making profits, not so much.
- The Mommy State: in New York you can get cocktails for carry out but only with a ‘substantial’ food item.
- $42 billion for restaurant revitalization fund. While COVID concerns have faded and sales are up. many restaurant are still struggling to turn a profit.
- Creators of the new hit TV show Severance say they were inspired this Sizzler video from the 70s. It is … something.
FOOD SUPPLY CHAIN
- Global food prices soar to record levels.
- Dominican Republic looks to fill in gap of avocado demand after imports form Michoacán are banned.
- Labor protests threaten Peru’s produce exports.
- Maine lobster industry has an excellent track record for sustainability. But this is being challenged by the competing issues of whale protection and sustainable energy.
FOOD WEEK LAGNIAPPE
- Speaking of jerks – Jamaican jerk is not only delicious, it is anti-inflammatory and gut healthy.
- Is Noom really different? Does it really work? Maybe not.
- Drink coffee, live longer. Hooray!
- And for Easter, who makes the best Chocolate Bunny? A test.