China’s exit from US agriculture is a devastated blow to an already struggling sector
China, U.S. farmers’ fourth-largest buyer, has officially stopped buying U.S. agricultural products. Sales were already way down this year because of the existing tariffs and cutting out China’s $5.9 billion contribution in U.S. farm exports altogether will likely exacerbate the crisis. Read more at CNBC …
The booming, ethically dubious business of food delivery
In 2020, off-premise restaurant spending (meaning deliveries, drive-throughs and takeaway meals as opposed to dining inside restaurants) is likely to make up over half of the category. However, pressures on the online meal delivery space in particular include rising wages, social backlash to unfair tipping policies and high fees for restaurants; this could lead many of these businesses to die and one or two to emerge as the dominant players. Read more at The Atlantic …
DuPont considers sale of nutrition and biosciences unit
DuPont, an industrial materials maker, is considering selling its nutrition and biosciences unit. The unit supplies “everything from soy-based food ingredients to tablet binders” and is estimated to be worth $20 billion as a standalone entity. DuPont so far has not commented on the unit’s divestiture. Read more at Reuters …
After 20 years in development, the Cosmic Crisp apple will soon hit stores
This December, an apple that has been genetically engineered to have a “perfect flavor, crisp texture, a juicy interior, striking color” and is extremely slow to brown will hit store shelves. The apple tested so well with consumers that an estimated 4 million trees—scaled up from 300,000—will be planted to meet demand. Read more at MNN …
Whole Foods wants to help decorate your next party
Starting in late August, Whole Foods stores nationwide will offer consumers a new section devoted entirely to party supplies. The company has partnered with a startup called Packed Party that began online and targets urban millennials with its fun, bright designs and recyclable offerings. Read more at Fast Company …
