Welcome to Food Week March 27 – April 2. New stuff and old stuff. New – olive oil coffee, carbon sequestration farming, low profits for meat and insane profits for eggs. Old – the emperor of dumplings, the difference between Tennessee whiskey and bourbon, meatballs and fruitcake and, of course, the April Fools joke. Enjoy!
Italy bans lab-grown meat and other protein innovations in the name of national heritage.
RETAIL AND CONSUMER
Prices may be moderating but not for sugar. The commodity’s price impacts thousand of products.
Cal-Maine, the nation’s largest egg producer, sold 1% more eggs in Q4 and made 109% more profit. That’s normal. Egg purchases fell by 6% in January and 4% in February YOY due to high prices. Things should improve after Easter rush but haven’t yet.
COVID adjustments to SNAP payments stopping, will raise food insecurity nationally.
The battle over over WOTUS – Waters of the United States – rule implementation of the Clean Water Act. Executive branch, Army Corps of Engineers and the EPA on one side, politicians and industry on the other.