Food Week February 20 – 26, 2023

Welcome to Food Week February 20 -26. A lot of long term indications that prices will fall, just not yet. And a lot of sectors made bank in 2022 and may be in for a rough landing. Lots more and weird stuff too like Starbucks putting olive oil in coffee and the guy who lived in a first class lounge for a year. Enjoy!

MACRO

• Inflation is sticky

• Low interest rates are keeping people in their houses – which threatens to freeze up real estate.

• One year on in Ukraine

RETAIL AND CONSUMER

• Brands continue to pursue price increases.

• The COVID driven expansion in SNAP benefits is done and that will affect grocery sales.

• The lack of the expected growth in plant-based meat means that companies may end consolidating.

• Aldi understands value and their customers love them. Here’s how.

RESTAURANTS AND FOODSERVICE

• A dumpling war between malls in LA.

• Delivery fees hurt Domino’s sales. Downward pressure that comes from inflation will further hurt the delivery companies.

• Has a Michelin star rating lost its luster? Also the 8 oldest restaurants in NYC.

• Starbucks to infuse coffee with olive oil???

• It was a very good year for foodservice distributors.

FOOD SUPPLY CHAIN

• Farmworkers hardest hit by California floods.

• Thinking about engineered crops and regulations.

• The FDA hasn’t reviewed some additives in literally decades.

• Here’s a fun article from September about how there are going to be winter food shortages in the US and Europe.

FOOD WEEK FEBRUARY 20 LAGNIAPPE

• Most of the world’s production of nitrogen fertilizer comes from Russia and China.

• The secret ingredient that could save lab grown meat.

• A reading list for those interested in cocktails.

• An interesting podcast on Oatly and its struggle with big milk.

• Would you like to eat gourmet food and wine for a whole year without having to pay for it? First buy an international ticket, get access to the lounge and then change your ticket everyday...

• Caffeine is a stimulant but too much can have the opposite effect