https://www.afinalwarning.com/517122.html (Natural News) Consumers better start budgeting more for their groceries as prices of essential commodities, including grains, fresh produce and meat, continue to surge. This is according to the latest inflation data in the Consumer Price Index (CPI), a set of consumer price indices calculated by the United States Bureau of Labor Statistics (BLS).
In fact, just about everything you can find at the grocery store suddenly costs more than last year. Last month, the average prices of chicken breasts and pork chops were up over 10 percent compared to March of 2020. Eggs and cheddar cheese also saw a six percent increase from last March, while beef is up 7.1 percent.
Archer Daniels (ADM) to Build Crushing Facility to Meet Demand Zacks.com 2 days ago
Archer Daniels Midland Company ADM revealed plans to build a crushing facility in Spiritwood, ND, in a bid to meet the growing demand for renewable products. This will be the first-ever soybean crushing plant and refinery in the North Dakota state and will satisfy the needs of food, feed, industrial and biofuel customers, as well as producers of renewable diesel.
Popular Searches
Further, the $350-million facility will come with state-of-the-art automation technology and the capacity to process 150,000 bushels of soybeans per day. The construction of this facility is likely to be concluded by the 2023 harvest season. With the help of Archer Daniel’s global logistics network, this facility will be able to gain access to both domestic and global markets for soybean oil and meal. Apart from renewable diesel production, this project is expected to be accretive to farmers as it will expand the mar
Global Organic Foods and Beverages Market to Reach $473 8 Billion by 2027 prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Albertsons Companies Inc. (NYSE: ACI), received downgraded ratings from Goldman Sachs.
A Shifting Landscape: Analyst Kate McShane noted that the grocery retail industry stood out within the past year’s economy “with outsized sales growth as a result of pandemic-related demand.”
But McShane observed that upcoming months might not be as favorable to this industry.
“As economies reopen and customer demand likely shifts incrementally towards food away from home, we think the promotional environment could become more competitive in grocery throughout the coming year,” she wrote. “That, coupled with potentially rising costs from inflation, results in multiple headwinds that could pressure margins for grocers.”
Goldman Sach’s (NYSE: GS) sector overview of the retail sector highlights the impact on apparel sales in the U.S. owing to unseasonably warm weather. The Northeast region especially lagged in winter apparel sales.
J.C. Penney (NYSE: JCP) and Kohl’s (NYSE: KSS) saw a slump in the children’s apparel. Read More.