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Rising ingredient costs push CPGs to modify formulas

WESTMINSTER, COLO. — Nearly 90% of manufacturers surveyed by TraceGains said higher ingredient prices have shaped the way they’re doing business today. For many, that means modifying or creating new formulas altogether.

For its “2022 State of Supply Chain Disruption” report, TraceGains surveyed more than 300 food and beverage manufacturers about the impact of macroeconomic conditions like ingredient availability and the pandemic on innovation, product development and the trickle-down effect on consumer prices and availability. The networked ingredient sourcing platform also gathered input from new product development professionals at companies with revenues upwards of $500 million.

The report found mixed results in terms of the impact on innovation. Respondents were evenly split between CPGs continuing to innovate and those making R&D cutbacks.

“As consumers, we feel the pain of supply chain issues each time we walk out of a grocery store,” said Gary Nowacki, chief executive officer of TraceGains. “This

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How To Promote Your Enterprise With Articles

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Meat and poultry outlook clouded by inflation, drought and

KANSAS CITY – Three macro themes are dominating the market for meat and poultry products — lower production despite high demand, an improved labor situation and the indirect impact of the Russia-Ukraine war.

Demand has been strong domestically as well as in the export markets, said Adam Stout, risk management consultant with Kansas City-based StoneX Financial Inc.

“If you go back to the start of COVID and the pandemic, I don’t know that you could describe demand as anything other than exceptional,” he said during a June 6 presentation at the Sosland Purchasing Seminar. “Demand has been great for all of the products.”

Unexpectedly, the US economy saw spikes in income levels due to the fiscal stimulus.

“The cash on-hand by the US consumers was unlike anything we have ever seen,” Mr. Stout mentioned. “When the US consumer has money, they’re going to spend it, right? They’re going to spend

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T. Rowe Worth To Move From Pratt Street In Downtown Baltimore To New Workplace In

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PepsiCo reaches saturated fat reduction milestone

PURCHASE, NY. — PepsiCo, Inc. has made “significant progress” on reducing added sugars in its beverages and slashing sodium and saturated fats in its convenient foods, according to the company’s 2021 Environmental, Social, and Governance (ESG) Summary published July 7.

The summary, which is an evolution from the company’s prior sustainability reports, shows PepsiCo achieved its saturated fat reduction goal four years ahead of schedule in 2021. The company had set a goal of getting more than 75% of its convenient foods portfolio to not exceed 1.1 grams of saturated fat per 100 calories by 2025. In 2021, PepsiCo said 75% of its convenient foods portfolio met the goal, up from 71% in 2020 and 62% in 2019.

“Reaching our goal in advance of the 2025 target year is an exciting milestone, but we recognize that our work isn’t done,” PepsiCo said. “The deadly conflict in Ukraine has led to

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Latest Stock Market and Business News for June 6, 2022

WASHINGTON — The Biden administration on Monday announced a two-year pause on imposing any new tariffs on the solar industry, a decision that follows an outcry from importers who have complained the levies are threatening broader adoption of solar energy in the United States.

The move is a victory for domestic solar installers, who said the tariffs would put at risk the Biden administration’s goal of significantly cutting carbon emissions by the end of the decade by reducing the flow of products into the United States. But it goes against the wishes of some American solar manufacturers and their defenders, who have been pushing the administration to erect tougher barriers on cheap imports to help revive the domestic industry.

It was the latest example of President Biden’s being caught between competing impulses when it comes to trying to steer the United States away from planet-warming fossil fuels, as he has …

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