50th Foodcom PLANT-BASED Newsletter

Author
Foodcom Experts
15.02.2024
50th Foodcom PLANT-BASED Newsletter
Summary
Table of contents
  • Stabilization in prices for starches, plant-based proteins, and sugar.
  • France’s eased grain transport restrictions during the Olympics.
  • Indian farmers protest for fair crop prices amid national elections.

 

Hello partners,

Are you ready for the freshest news from Plant-based Industry?

Welcome to the latest edition of our Plant-Based newsletter, in which we take a look at the changing industry. While most segments of the plant-based products market are tending towards stability, the animal feed amino acids sector remains particularly dynamic. In the coming months, it will be crucial to monitor changes in raw material prices, global consumer trends and product innovations. In this issue, we reveal all the juicy details.

Products of the Week

Starches

Starch, an important ingredient in many areas of the food industry, is now tending to stabilize after a phase of falling prices. The fall in prices was caused by lower prices for important raw materials such as corn and wheat. However, it is worth noting that Tapioca Starch prices are rising again. The current price stability could benefit producers and allow for better planning of production costs and prices.

Proteins

The market for plant-based proteins, especially soy proteins, is stabilizing after earlier declines. This stability is crucial for manufacturers of plant-based foods. However, after the Chinese New Year, we will have more insights into the dynamics of the plant protein sector, which will improve our understanding of current trends and potential future developments.

Sugar

Prices for sugar, as well as for starch and plant-based proteins, tend to stabilize. This price stability is important for food producers, especially in the context of the growing interest in sugar-reduced products and alternative sweeteners.

What else?

Europe

The French government announces an easing of restrictions on the transportation of grain on the Seine during the Olympic Games. The closure before the opening ceremony will be shortened to six and a half days. This is in response to industry concerns about disruption to the harvest season. The authorities are expecting 300,000 people to attend the riverside ceremony. The river locks will be closed at midnight during the Games. The measures are aimed at mitigating the impact on the grain sector amid nationwide agricultural protests.

Ukrainian agricultural exports to Eastern Europe have not harmed local markets, says Ukraine’s trade representative. Increase in supplies from the Black Sea calms concerns. EU neighbors are concerned about food safety standards. The European Commission proposes measures to limit exports, which still need to be approved. Deputy Minister of Economy highlights increase in Black Sea exports since August 2023. Calls for a long-term solution to trade issues by the end of 2024.

America

US Trade Representative Katherine Tai is taking a pragmatic approach to the upcoming WTO ministerial meeting in Abu Dhabi. Tai expects incremental improvements rather than a comprehensive reform agreement. The WTO faces challenges such as dispute settlement, fisheries subsidies, agricultural subsidies and tariffs on e-commerce. Amid global trade tensions, Tai is aiming for meaningful progress and hopes for a successful MC13 that builds on previous reforms.

Asia

Following the protests for higher crop prices, farmers in India want to hold talks with government ministers. Police block the march to New Delhi with tear gas and barricades. The protests coincide with the upcoming national elections, in which Prime Minister Modi is seeking a third term in office. Farmers hope for a solution in talks with ministers. Farmers on the border await the outcome of talks, volunteers keep the peace. Protesters demand fair crop prices amid the financial crisis. Protests after talks fail; farmers vow peaceful protest if talks fail again.

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