The world’s economic growth is expected to slow from 3% to 2.4% y/y by the end of 2023, according to a new report from the United Nations Conference on Trade and Development (UNCTAD). But leading global food and agriculture traders must be onto something because it's expected that their profits will continue to grow.

The 109-page report featured a 26-page chapter titled "Food Commodities, Corporate Profiteering and Crises" that chronicled the “dramatic” profit increases of the world’s 15 largest food traders during times when the world was in turmoil (recent examples include the COVID-19 pandemic and the War in Ukraine). The top four of food corporations on the list, and primary focus of the report, are Archer Daniels Midland (ADM), Bunge, Cargill and Louis Dreyfus. 

“Academics have long suggested that global food trading corporations have expanded the scope of control over the industry to become not simply oligopolies, but cross-sectoral value chain managers,” the report states.

That is why UNCTAD is calling for regulatory oversight for the unregulated global commodity markets and stated that a lack of rules leads to a lack of transparency – allowing opportunists to capitalize on crisis situations while potentially driving up food prices which, in turn, causes more people to go hungry. 

Take the War in Ukraine as an example. French bank Société Générale found a group of ten hedge funds that had been reporting losses for numerous years trading in wheat, corn and soybeans – but who made an estimated $1.9 billion trading on the food price spike of these commodities at the start of the war. 

In 2021 and 2022 (remember those times of “record inflation”!?) 18 leading food and beverage companies made a combined profit of nearly $14 billion – which UNCTAD notes would be more than double the funds currently needed to deliver “life-saving food assistance in East Africa.” 

Simple. Recognizable. Real. There’s a growing expectation that ingredients on your label be as familiar as those in a pantry. That’s not as simple as it might seem – given the realities of shelf life and sensory expectations – but you can rely on Cargill’s label-friendly formulation expertise. Learn more

Dole fruit packs, Peeps and even Morningstar’s veggie bacon will either have to be reformulated or pulled from shelves in California after the state’s governor, Gavin Newsom, signed a bill banning red dye #3 along with three other controversial food additives. 

• California’s ban encompasses brominated vegetable oil, potassium bromate and propylparaben. 
• The original bill included titanium dioxide, but was amended to remove the substance in order to appease industry groups and secure support for the bill last month. 
• Propylparaben and potassium bromate are commonly found in baked goods.
• The ban will go into effect on Jan. 1, 2027 anyone in violation of the law could face a fine of $10,000 per offense.

Kids snack food maker Yumi has taken its first steps onto Whole Foods shelves with Rice-Free Meltable Puffs and a line of Superfood Veggie Organic Bars. Yumi will also launch its new Mango & Kale bar variety exclusively with the retailer. Co-CEO and co-founder Evelyn Rusli told NOSH that the brand is looking to continue filling “a lot of dots on the map,” as it builds out brick and mortar distribution. Here are a few more distribution highlights:

• Undercover Snacks expanded with Costco, adding the Midwest and Canada East regions to its existing distribution in the Northeast, bringing the snacks to 250 Costco locations and its total retail footprint to over 20,000 stores.
• Plant-based seafood maker Konscious Foods announced that its products will now be used in Whole Foods sushi venues in all U.S. stores.
• Egglife has landed Food Lion as the latest retailer to carry its grain-free, high-protein wraps.

Read the full report for more distribution news.

Publicly traded Instacart and nonprofit healthcare provider Kaiser Permanente have teamed up to study the impact of nutritious food accessibility has on health outcomes. 

• The study will focus on Kaiser’s Northern California and Southern California Medi-Cal members with diet-related diseases such as diabetes and chronic heart failure.
• Kaiser will provide patients with Instacart grocery stipends, known as Health Fresh Funds, to purchase nutritious foods and pantry staples from a curated virtual storefront which are then delivered by Instacart.
• Instacart has also partnered with Mount Sinai Solutions to provide Health Fresh Funds as a benefit for select patients insured by a health plan sponsored by a Mount Sinai Solutions employer or union customer. 

“We’re dedicated to addressing nutrition insecurity, and by leveraging our technology, significant reach and retail partnerships, we can help families across the country get nutritious foods delivered through Instacart,” said Sarah Mastrorocco, VP and general manager of Instacart Health.

It’s poppin'! New premium popcorn brand Cheerie Lane has debuted with the release of what it claims to be the first all-in-one popcorn pod. Each ear-of-corn-shaped pod comes individually wrapped for a pre-portioned and evenly seasoned bowl of stovetop popcorn, according to the brand. 

The Classic Butter Pack yields nine servings of buttery and salty popcorn. The brand is also serving up The Harvest Pack, which includes one Butter Pod, one Tomato Basil pod and one Rosemary Garlic pod (3 servings of each flavor). 

Check out the full list of notable new products in the gallery on NOSH.