JUNE 18, 2024

U.S. grocery stores posted sales of about $364 billion in the first five months of 2024, rising 1.6% on an unadjusted basis when compared to the same period of 2023, according to the Census Bureau. Food services and drinking places saw sales rise 6.1% year-over-year during the period to about $466.7 billion. Full Report

China is fighting back against EU anti-subsidy plans and is collecting evidence for an investigation into EU pork and dairy products. Food Institute Focus 

While cow’s milk has steadily waned in popularity, the reputation of raw milk has curdled from being the only show in town to a product whose mere mention is fodder for the most heated of internet debates. Food Institute Focus

LISTEN: In the fourth episode of the "Foodservice Gamechangers" series, Sysco SVP and chief merchandising officer Victoria Gutierrez joined Food Institute advisor and special guest host Pat Mulhern to discuss the importance of fostering a growth mindset and embracing digital transformation in the foodservice distribution industry. The duo also discussed the need for adaptable problem solving and resilience in the workforce. Listen Here

In 2023, Asian concepts dominated the casual dining market while pizza came up cold. Sushi and Korean barbecue paced the field with an average growth of more than 24% - six times more than the average competitor – according to recent data from Technomic, reported Restaurant Business. Full Story

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FINANCIAL NEWS

Plant-based ‘meat’ startup Tender has already nabbed a fast-food chain contract and another $11 million in funding. The Somerville, Massachusetts-based company, formerly known as Boston Meats, develops plant-based alternative meat, including beef short rib, pulled pork, chicken breast, and crab, reported TechCrunch. Full Story

UK grocery inflation fell for the sixteenth month in a row in June according to market researcher Kantar. The group noted grocery price inflation shrank to 2.1% in the four-week period ending June 9, down from the 2.4% reported in the previous four-week period, reported Reuters. Full Story

FI SPOTLIGHT

Chock-full of nutrients, immunity-boosting, benefitting brain and heart health - those are just some of the reasons why W.E. Da'Cruz invests so much in mushrooms as the co-founder of the Mushroom Angel Company. Join The Food Institute as we get the scoop on the company's main product, Cruz Burgers, and why they are "mushroom-forward." Watch Here

HEALTH NEWS

A new, home-administered treatment for binge-eating disorder has shown promising results. The new treatment combines a brain stimulation technique called transcranial direct current stimulation with a training program that targets unhelpful patterns of attention around food, reported ScienceDaily. Full Story

Can billions in new subsidies keep family farms in business? President Biden’s administration seeks to improve support of smaller farmers while continuing to aid large corporations and rewarding climate-friendly practices. It’s a tall task, reported The New York Times. Full Story

California Red Lobster employees have sued the chain over mass layoffs. The lawsuit alleges that the restaurant chain didn’t give employees enough notice before closing dozens of locations in May, reported yahoo.com. Full Story

FI PODCAST

This Series is Sponsored by BMO

In the fourth episode of the “Foodservice Gamechangers” series, Sysco SVP and chief merchandising officer Victoria Gutierrez joined Food Institute advisor and special guest host Pat Mulhern to discuss the importance of fostering a growth mindset and embracing digital transformation in the foodservice distribution industry. The duo also discussed the need for adaptable problem solving and resilience in the workforce. Listen Here

Rival pork suppliers from South America and the U.S. could benefit from a trade spat between China and the EU. The U.S. Meat Export Federation noted U.S. pork already faces retaliatory duties of 25% in China in response to steel and aluminum tariffs, which may further complicate the market, reported Reuters. Full Story

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