Already have an account? Sign in.

 Remember Me | Forgot Your Password?

This is a general newsletter - click here to create something specific to your interests

Search criteria:
YOUR CORPORATE NEWSLETTER SOLUTION...
  • Ready-to-go newsletters on topics you choose, in your template
  • We prepare the content for you
  • You review, edit and click Send. Easy!
Read more about SmartNews360
 
DELIVERING COMPETITIVE ADVANTAGE...
  • A competitive intelligence leader for 20 years
  • Helping top corporations with research and analysis
  • From quick projects to ongoing support and outsourced services
Read more about Business360
Subject:
FOOD BUSINESS NEWS
Period: October 21, 2018 to October 28, 2018
Geographies:
Worldwide
Categories:
Comment & Opinion or Companies, Organizations or Consumers or Controversies & Disputes or Deals, M&A, JVs, Licensing or Earnings Release or Finance, Economics, Tax or Innovation & New Ideas or Legal, Legislation, Regulation, Policy or Market News or Marketing & Advertising or Other or People & Personalities or Press Release or Products & Brands or Research, Studies, Advice or Supply Chain or Trends
Contents
 

Land O’Lakes Launches Digital Tool To Help Farmers Get More Sustainable

Land O'Lakes SUSTAIN is to launch Truterra Insights Engine, an interactive digital platform to help farmers and food companies measure their sustainability in real time. The platform combines agronomic expertise and technical capabilities from several contributors, including the USDA's Natural Resources Conservation Service, and combined with other tools can help farmers measure the economic and environmental benefits of their sustainability efforts. It also helps them identify farm management options. The company claims Truterra Insights Engine is better suited to farmers since it was created by a farmer-owned cooperative.

"Land O'Lakes SUSTAIN debuts first-of-its-kind digital platform to support farmer-led stewardship", PR Newswire, September 24, 2018

Dutch Supermarket Chain Uses Blockchain To Make Orange Juice Supply Chain Transparent


According to International Supermarket News, Dutch supermarket chain Albert Heijin is using Blockchain to make transparent the supply chain for its orange juice. The new system will be launched in partnership with Refresco, one of the company’s suppliers and will enable customers to track the product’s journey from Brazil to the Netherlands by using a QR code on the carton. The food industry is beginning to discover and embrace the potential of blockchain, helped by tech companies working on solutions for the sector. For example, Walmart has been working with IBM on a blockchain system to reduce food waste and improve food safety.

"Dutch Supermarket Giant Adopts Blockchain to Make Orange Juice Production Transparent", Cointelegraph, September 21, 2018

Irish Agricultural Technology Companies See Export Opportunities in the North American Agricultural Market

Enterprise Ireland sees large opportunities in the US for Irish agricultural technology companies and recently opened a Chicago office to help companies to secure business. It seeks to help companies that offer a range of products, often leveraging digitalization to help farmers optimize efficiency, maximize profitability, and reduce costs. For example, Moocall sells wearable sensors to the bovine industry to improve calving, MooMonitor provides a system to monitor animal health and fertility and MagGrow has technology that improves spraying efficiency and reduces spray drift by up to 70 per cent.

"US agritech is a new digital frontier for exporters", Farm Ireland, September 17, 2018

Startup Ripe.io Secures Finance For Its Block Chain Platform

Agritech startup, Ripe.io, received $2.4 million in financing from investors that include Maersk Growth and food innovation hub Relish Works. Established by two professionals from the finance industry, Phil Harris and Raja Ramachandran, Ripe.io seeks to use blockchain to address several problems that beset the food industry including fraud and food safety. Ripe.io’s first foray into blockchain technology was the Internet of Tomatoes that used sensor machines to collect information related to tomato growing. Harris claims that the food industry needs to undergo a ‘digitization event’ and that Ripe.io, with its blockchain platform, can enhance transparency for consumers by providing details about the food they are about to purchase.

"Ripe.io And Its 'Blockchain Of Food' Secures $2.4 Million In Funding", Forbes, September 11, 2018

AI And Robots Gain Traction In Food Manufacturing

Food manufacturers are adopting vision-automation technology by combining advances in laser vision with artificial-intelligence software to carry out more-complex tasks. Process times for some applications can be about 100 times faster than humans, creating the potential of significant efficiency gains. For example, a sausage factory is using vision technology to cut sausage strings at a rate of 200 a minute. Food industry applications include optimal meat cutting, ensuring frozen pizzas have the correct toppings and ultrasonic slicing of cheese. Effective three-dimensional imaging will allow broader applications but costs are currently too high.

"See Food: Why Robots Are Producing More of What You Eat", The Wall Street Journal, September 11, 2018

Blockchain Vendors IBM And Grainchain Emphasize Benefits In Argentina

At a farming conference in Argentina two providers of blockchain applications emphasized the benefits to food production. IBM pointed out how traceability and certificate management generate trust through the supply chain, especially when done at speed: in Mexico its system enabled Walmart to determine the origin of each mango in two seconds compared to six days previously. UK-based Grainchain, which offers an "ag-tech" platform for commodities trading, emphasized how blockchain helps both sides have faith in a contract. Each party knows the contract is verified, is unalterable and will be honored. Use of blockchain solutions is at an early stage in Argentina but as processes get standardized and benefits become clear, vendors see large potential in this agriculturally intensive nation.

"Sourcing That Mango: Blockchain Brings Transparency To Food Supplies", Worldcrunch, September 09, 2018

Australia To Use AI To Map Its 65 Wine Regions


An agreement between Wine Australia and Consilium Technology covers the use of artificial intelligence to accurately map Australia's 65 wine regions. A national census of the country's winegrape area will be conducted in mid-2019 using Consilium Technology's Geospatial Artificial Intelligence for Agriculture software equipped with high-resolution satellite images and advanced machine learning. The software's accuracy was previously tested in mapping the Margaret River and Tasmania. Information from the scan is expected to enhance Australia's biosecurity activities and wine label integrity.

"Artificial Intelligence helps accurately map Australia’s 65 wine regions", Food Magazine, September 06, 2018

Hershey Rolls Out New Omnichannel That Blurs Online and Offline

Hershey Co. has a ‘digital’ strategy that is centered on four components, search, content, conversion, and community. It is designed to enhance the company’s competitive advantage and help it succeed in the emerging omnichannel marketplace and holds that there is no offline and online division, but rather a continuum between the two. The initial goal is to convert a purchase, but the long-term goal is repeat purchases and to earn a place on the consumers digital shopping list. Hershey is also experimenting with digital impulse sales.  

"Inside Hershey’s digital strategy", Food Business News, August 30, 2018

The Romaine Lettuce E-Coli Outbreak Highlighted Blockchain Potential For Food Sector


Although Blockchain technology is penetrating the supply chains of many industries, the food sector has some catching up to do. The romaine lettuce e-coli outbreak in the U.S. earlier this year highlighted the need for the food industry to improve transparency in supply. Despite efforts from some companies, such as Walmart, to improve food safety procedures, much of the industry remains reliant on paper-based systems. There are a number of hurdles to overcome in switching to digital systems, including the cost, but new technologies like blockchain have the potential to improve safety for businesses and consumers. 

"Romaine, Blockchain, and the Future of Food Safety", Food Newsfeed, August 01, 2018

 
Market News  

Coke CEO Sheds Day-To-Day Duties To Focus On The Big Picture

Coca-Cola CEO James Quincey is handing over day-to-day management duties to newly-named chief operating officer and 21-year Coke veteran Brian Smith, 62. He will also take on the title of president, which is held by Quincey. The promotion will take effect in January. The company also named new chief financial officer John Murphy, Asia-Pacific president, who will replace Kathy Waller, 60, in March. The management moves will permit Quincey to focus on the company’s overall strategic direction as more consumers shun sugary soft drinks. Chief Technical Officer Ed Hays, who is retiring in March, will be replaced by Nancy Quan, who holds the same post for Coke’s North America division.

"Coca-Cola makes new appointments in management shake-up", The Financial Times , October 18, 2018

Developed by Yuri Ingultsov Software Lab.