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5@5: Kraft, Mondelez to pay $16M for wheat price manipulation | World's largest pork producer enters plant-based meat market

Each day at 5 p.m. we collect the five top food and supplement headlines of the day, making it easy for you to catch up on today's most important natural products industry news.

CFTC says Kraft, Mondelez to pay $16M in wheat price manipulation case

The U.S. Commodity Futures Trading Commission mandated on Thursday that Kraft Heinz Co and Mondelez International Inc pay $16 million for buying $90 million of December 2011 wheat futures. This gave the two companies a dominant position in the market by causing an artificial price fluctuation which earned them over $5 million in profits. Read more at Reuters …

 

World’s largest pork producer enters plant-based meat market

Smithfield Foods, the world’s largest pork producer, will officially be entering the plant-based meat arena with a new soy-based line of meat alternatives; some of these products will also contain dairy-free cheddar. The company expects the line will appeal to flexitarian consumers in search of sustainable protein options. Read more at XTalks …

 

Devastating banana fungus arrives in Colombia, threatening the fruit’s future

A destructive fungal disease called Fusariam that originated in Asia has arrived in Latin America, and it could spell the end for bananas as we know them. Now researchers are desperately trying to find a new member of the banana family that can withstand the fungus, but none of the known options could replace the bananas now found almost ubiquitously at retail. Read more at NPR …

 

The rise of the virtual restaurant

Virtual restaurants, or “ghost kitchens,” are rising in popularity in tandem with the now-booming online food delivery business. These spaces allow entrepreneurs to launch their businesses more efficiently and with lower labor costs, but their fate rests squarely on the future business decisions of third-party apps such as Postmates and DoorDash. Read more at The New York Times …

 

ACLU, Tofurky ask for an injunction on Arkansas’s anti-veggie burger law

The ACLU is suing the state of Arkansas on behalf of plant-based food company Tofurky for infringing upon its rights to free speech. The organization argues that there is “nothing misleading about the name of a veggie burger, or vegan hot dog, or seitan bacon” on the grounds that “the packages clearly disclose that this is plant-based food that has the taste or texture of this familiar food,” and so it is unconstitutional to block such labeling. Read more at Vox 

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