Every Unveils World's First Liquid Egg Made Without a Hen at Eleven Madison Park
Ingredient innovator EVERY will debut its flagship EVERY Egg – the world's first liquid egg made without the hen – at an exclusive dinner tonight at world-renowned restaurant Eleven Madison Park in New York City. Made by yeast fermentation, EVERY Egg will be unveiled following nine years of product development by EVERY, which has raised over $233 million from notable investors including Anne Hathaway, AB InBev and Grupo Bimbo. In a first-of-its-kind product collaboration for...
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ANALYSIS: All Eyes On Turkey Supplies
As we round the corner to Q4, there are very few, if any, food-oriented holidays standing in the way between now and Thanksgiving. While seasonal market performance of bellwether lines such as whole-body turkeys is typically a straightforward read, that couldn’t be further from the truth here in 2024. Lackluster wholesale and consumer demand patterns, in conjunction with wide fluctuations in supply and asked prices, have left market participants breaking out their figurative roadmaps.
With this in mind, we thought it would be a timely opportunity to check...
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Sep 20 8:12 AM, Urner Barry
New Jersey Police Arrest Four Suspects Linked to Organized Theft of Meat and Seafood
The New Jersey State Police arrested four men from Philadelphia on numerous chargesrelating to an Organized Cargo Theft Ring focused on meat, seafood and alcohol.
For the past two months, the police have been leading “Operation Beef Bandit,” which targeted an organized crew responsible for nine burglaries at service areas along the New Jersey Turnpike.
The suspects allegedly broke into parked and often occupied trailers and stole high-value meat, alcohol and seafood.The crew...
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Sep 20 11:06 AM, SeafoodNews
Largest port on U.S. East Coast Begins Prepping for What Could be First Union Strike Since 1977
Port of New York/New Jersey executives tell CNBC they have begun preparations for a potential complete work stoppage by the International Longshoreman’s Association, the largest union in North America. The ILA represents over 85,000 longshoremen and a strike would shut down five of the 10 busiest ports in North America, and a total of 36 ports along the East and Gulf Coasts, on October 1. Between 43%-49% of all U.S. imports and billions of dollars in trade...
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Sep 20 2:50 PM, General News
U.S. Importers Are Pulling in Goods Early as Possible Port Strike Draws Closer
Retailers and manufacturers are rushing in merchandise and pushing shipments to other gateways as walkouts on the East and Gulf Coasts grow more likely
U.S. importers are rushing in millions of dollars' worth of electronics, holiday goods and industrial materials to get ahead of a possible strike by dockworkers in less than two weeks that threatens to lock down major ports and hammer the American economy.
The drive has gained urgency as a walkout by 45,000 dockworkers at ports from Maine to Texas has grown...
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Sep 20 10:36 AM, General News
Marsh, Tokio Marine Kiln Launch Port Disruption Insurance Amid Shipping Chaos
Broker Marsh and Lloyd's underwriter Tokio Marine Kiln (TMK) have set up business interruption insurance for ports to provide cover against growing trade disruption risks such as threats to shipping in the Red Sea, executives involved said.
Ports across the globe are dealing with multiple issues that are disrupting flows of goods, including attacks by Yemen's Houthis on commercial shipping as well as the risk of strikes at terminals in the United States.
"Recent geopolitical turmoil has exposed a clear gap in...
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Sep 20 9:57 AM, General News
Red Sea and Panama Canal Disruptions Amount to $1.25 Trillion Economic Loss
The figures are taken from Russell’s new report ‘Why Insurers Should Monitor Their Transit Route Accumulations’.
Russell’s Red Sea trade analysis from October 2023 through to May 2024, at the height of Houthi attacks on shipping vessels, shows that the commodities most impacted are crude oil, plastic materials, telephone equipment, cars and clothing.
Similarly, Russell’s analysis of trade through the Panama Canal during the vessel restrictions throughout 2023, highlights the commodities most impacted are LPG, crude oil, cars and people carriers...
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Sep 20 8:00 AM, General News
Cracker Barrel Reports Fourth Quarter Fiscal 2024 Results
Cracker Barrel Old Country Store, Inc. today reported its financial results for the fourth quarter of fiscal 2024 ended August 2, 2024. In 2024, the fourth quarter and fiscal year included an additional operating week ("53rd week") compared to fiscal 2023.
Fourth Quarter Fiscal 2024 Highlights
- The Company reported total revenue of $894.4 million for the fourth quarter of fiscal 2024, representing an increase of 6.9% compared to prior year quartertotal revenue of $836.7 million
- Total revenue for the fourth quarter of fiscal 2024 includes...
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Sep 20 8:00 AM, Urner Barry
U.K. Shoppers Keep Spending Amid Summer Sun
Supermarkets and fashion stores reported a boost to sales from warmer weather, as well as end-of-season discounts
U.K. consumers spent more in stores as summer sales and warmer weather boosted sales of clothes and other goods, in a boost to economic growth.
Retail sales were 1.0% higher in August than in July, when sales increased 0.7%, according to new and revised figures published Friday by the U.K.'s Office for National Statistics. August's sales came in notably ahead of economists' expectations for a 0.4% increase...
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Sep 20 10:09 AM, General News
China Dairy China forgoes US Corn Despite Slowdown in Brazilian Shipments
China’s corn imports have eased in recent months, coinciding with lighter shipments from its new favorite supplier Brazil.
Chinese buyers, however, have not sought U.S. corn to fill the gap.
In the first eight months of 2024, China imported 12.56 million metric tons of corn, down nearly 16% from the same period a year ago. Early 2024 arrivals were stronger than in 2023, but that advantage disappeared in May and the year-to-date deficit has grown ever since.
China began importing hefty volumes of corn...
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Sep 20 9:18 AM, General News
China Dairy Farms Swim in Milk as Fewer Babies, Slow Economy Cut Demand
China is awash in unwanted milk as falling birth rates and cost-conscious consumers have cut demand even as dairy farms expanded in recent years, forcing smaller farmers out of business and squeezing shipments into the world's top importer.
China's milk surplus illustrates the unintended consequences of Beijing's food security-driven efforts to boost its dairy sector by touting consumption and encouraging expansion. High costs and the legacy of an adulteration scandal in 2008 that killed at least six children and hospitalized thousands, meanwhile...
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Sep 20 9:06 AM, General News
