The news has been tough to interpret lately. On the one hand, we have just seen several earnings reports where F&B giants like PepsiCo and Coca-Cola have reported resilient demand for products despite price increases — and have indicated that prices may go even higher. On the other, several consumer surveys have shown that people are feeling the pinch at the grocery store.
Adding to the latter body of work is a new survey commissioned by Ingredient Communications showing that almost all (97%) of U.S. consumers have noticed price increases on food and beverage products in the past three months.
As a result:
Richard Clarke, Managing Director of Ingredient Communications, said: “Since we conducted our first price sensitivity survey, the war in Ukraine has exacerbated an already volatile situation. As well as difficulties sourcing certain raw materials, fuel costs have gone through the roof. With winter on the way in the western hemisphere, and no sign of Russia backing down, demand for energy will spike and it’s hard to see any short-term easing of the inflationary pressures that food companies and consumers are facing.”
By Krista Garver
Source: foodindustryexecutive.com
Temperature-controlled storage and logistic solution provider, Emergent Cold LatAm, has opened ‘Chile’s largest’ frozen food warehouse. Located in Talcahuano, a region renowned for its seafood and fruit production and exports, the warehouse represents a strategic enhancement of the local cold chain infrastructure.
Never Never gin will be sold through Asahi’s alcohol division, Carlton & United Breweries (CUB). According to the company, the acquisition – which won’t impact daily operations – will enable Never Never’s premium gin to reach a wider customer base while enhancing support and product offerings for existing customers.
Coca-Cola Europacific Partners (CCEP) announced today the forthcoming departure of Nik Jhangiani, senior vice president and chief financial officer, with plans underway to identify his successor. Jhangiani will be stepping down to assume the role of CFO at Diageo later this year.