Ilena

Long a staple of Filipino cuisine, the purple yam is all over global menus, and farmers are struggling to keep up.

Read more: bloom.bg/46oTxa0

🎨: Ryan Haskins for Bloomberg Businessweek 📷️: Ube Area & Getty Images

America’s Love of Ube Is Straining Supplies in the Philippines Long a staple of Filipino cuisine, the purple yam is all over global menus, and farmers are struggling to keep up.

If you've seen a purple food on social media, chances are it contained #ube. Here's what you should know about the purple yam's cultural significance to the #Philippines and the global craze's impact on supply chains.

💜🎁🔗: www.bloomberg.com/news/article... via @bloomberg.com

Americans Can’t Quit Steak, No Matter the Cost Beef prices are at an-all time high. New budget-friendly cuts are meeting demand.

The obvious driver of record US #beef prices is low supply. But the market also wouldn't be here without the other side of the Economics 101 equation: demand. Here's why — and how — Americans are still buying the pricey protein.

🥩🎁🔗: bloomberg.com/news/article... via @bloomberg.com

Egg Prices Collapse as Once-Empty Shop Shelves Now Overstuffed A year ago, empty egg shelves in grocery stores were a symbol of stubborn food inflation. Shoppers paid record prices, scrambling to beat per-customer limits and stocking up whenever cartons appeared.

#Egg prices were at record highs a year ago. Now the #protein is the cheapest it has been in two years as farmers overexpanded flocks in case of more severe bird flu outbreaks that have yet to come.

🍳🎁🔗: www.bloomberg.com/news/article... via @bloomberg.com

International Paper to Split Into Two Listed Companies International Paper Co. plans to break up and spin off its European packaging business as the 128-year-old company seeks to strengthen its operations amid weak macroeconomic conditions.

International Paper to split into two companies, spinning off its European #packaging business. That follows IP a while ago rebuffing a Suzano offer & then buying DS Smith.

www.bloomberg.com/news/article... via @bloomberg.com. reported by @ryangould.bsky.social this AM, now updated w/ more context

High Coffee Prices Are Changing How Consumers Take Their Daily Brew Global coffee prices rose to record highs this year, sending the cost of cappuccinos and lattes soaring. But a caffeine habit is hard to kick.

Record #coffee prices aren't enough to kick a caffeine habit, but it's enough to shun cafes. There's a growing crowd of home baristas, while others are opting for cheaper, drive-through options.

☕️🔗: www.bloomberg.com/news/article... via @bloomberg.com

Trump’s Beef Price Battle Meets America’s Insatiable Demand President Donald Trump is on a campaign to bring down beef prices. But the nation’s powerful demand for protein is making that goal difficult.

Record beef prices are putting America's love of protein to the test — & the verdict is that demand is largely holding up. Shoppers are still buying beef, though there are shifts in where & what they eat (more at home, cheaper cuts).

🥩🔗: www.bloomberg.com/news/article... via @bloomberg.com

Trump Asks Justice Department to Probe Meatpackers Over Prices President Donald Trump asked the Justice Department to start an investigation into the meatpacking industry, accusing them of “driving up the price of Beef through Illicit Collusion, Price Fixing, and Price Manipulation.”

Trump asked the Justice Department to start an investigation into the meatpacking industry, accusing them of “driving up the price of Beef through Illicit Collusion, Price Fixing, and Price Manipulation"

Bessent Says China to Buy 12 Million Tons of Soybeans This Year China has agreed to buy 12 million metric tons of soybeans this year, Treasury Secretary Scott Bessent said, providing some relief to US farmers who have anxiously awaited the resumption of exports to the Asian nation.

Treasury Secretary Scott Bessent said China has agreed to buy 12 million metric tons of soybeans this year.

High Cocoa Costs Put Chocolate Makers on Edge for Halloween Halloween is shaping up to be a test for the chocolate industry, as high cocoa costs threaten to accelerate a consumer shift toward cheaper and trendier sweets such as sour gummies.

It's been spooky season for the #cocoa market for a while. Now higher prices are giving non-chocolate treats that were already trendy (think sour gummies) even more room to grab market share this #Halloween.

🎃🔗: www.bloomberg.com/news/article... via @bloomberg.com

Trump Says He’s ‘Worked Our Magic’ on Deal to Lower Beef Prices President Donald Trump said his administration had struck an agreement to bring down the price of beef for consumers during an event in the Oval Office on Thursday.

President Trump said his administration had struck an agreement to bring down the price of beef for consumers during an event in the Oval Office on Thursday

Trump’s Wood Tariffs Are Coming. Who Will Be Hit Hardest President Donald Trump unveiled sweeping tariffs on imported lumber and wood products that his administration says are needed to protect the US economy and boost domestic manufacturing. Starting Oct. 14, softwood lumber will face 10% duties, while kitchen cabinets, bathroom vanities, and other finished wood goods will be hit with 25% tariffs that rise further in January.

US homebuilders and retailers warn that higher costs could push housing prices and furniture costs higher as the trade fight over wood products escalates once again. Here’s what to know.

Line chart of the most-active lumber futures contract traded in Chicago, which on September 18 touched the lowest in seven months

A hike in US duties on Canadian wood was meant to protect prices for American producers. It still hasn't been enough to stop futures prices from plunging to a 7-month low as housing demand falls.

🪵🔗: www.bloomberg.com/news/article... via @bloomberg.com

After Seedless Grapes, Now for the Pitless Cherry Cherries with no pits are set to (eventually) hit grocery shelves thanks to gene-editing technology.

It's time for pitless cherries - thanks to gene-editing technology.

Startup Pairwise and fruit breeder Sun World International will work to bring it to the market in the next decade - @ilenapeng.bsky.social reports in the latest Business of Food newsletter.

www.bloomberg.com/news/newslet...

American Farmers Are Feeling the Pain of Trump’s Policies US agricultural communities that had expected Trump to have their backs have found themselves flung into a second trade war. If the situation continues, it could put loyalties at risk.

every rural county should be considered up for grabs in the midterms

a must read from @ilenapeng.bsky.social

(with a gift link!)

www.bloomberg.com/news/article...

America's farmers are hurting & worried that politicians aren't getting it. Nine months into President Trump's second term, the near-term optimism that farmers once felt is waning and demand for mental health support services has surged.

🎁🔗: www.bloomberg.com/news/article... via @bloomberg.com

America’s Butter Glut Is Driving Prices to Three-Year Lows As America’s appetite for butter grew over the past few years, the dairy industry turned to cows that produce fattier milk and expanded facilities to meet the demand. They might have gone too far.

Americans are eating a whole lot of #butter but the US is making even more, sending futures prices dropping down to the lowest since November 2021.

🧈🔗: www.bloomberg.com/news/article... via @bloomberg.com

US Roasters Shun Coffee From Brazil After 50% Tariffs Kick In American coffee buyers are shunning fresh deals with top grower Brazil after President Donald Trump’s 50% tariff took effect this month.

Your daily #coffee still seems fine but behind the scenes, US roasters have been scrambling since 50% tariffs on Brazilian beans took effect. Shipments from top coffee country have been postponed, while new deals have stalled.

☕🔗: www.bloomberg.com/news/article... via @bloomberg.com

Trump Tariffs Spell Trouble for Hawaii’s Few Coffee Farmers Hawaiian coffee farmers have a message for President Donald Trump: Steep tariffs on major exporters such as Brazil will end up hurting them, too.

Growers fear that rising coffee prices will hit consumers already struggling with inflation, curbing demand on everything from popular everyday roasts available at grocery stores to luxury Kona beans.

Chocolate Makers Burned Again as Shortages Hit Cocoa Powder Chocolate makers were already grappling with record prices for cocoa butter, which provides that melt-in-your-mouth feel. Now they are also paying up for the powder that lends their product its color ...

#Cocoa prices, while still high, have cooled from records. But chocolatiers and food companies aren't in the clear yet, as prices surge for the typically cheap powder that lends chocolate and brownies their rich color and taste.

🍫🔗: www.bloomberg.com/news/article... via @bloomberg.com

Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate Demand for the Instagram-friendly nuts have driven up margins for farmers, who are preparing for a bumper crop this fall.

Pistachios are everywhere! A year and a half in, the viral Dubai Chocolate phenomenon is still going strong. US nut growers need that to continue, especially with a record harvest expected to start later this year.

💚🔗: www.bloomberg.com/news/article... via @bloomberg.com

Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate Demand for the Instagram-friendly nuts have driven up margins for farmers, who are preparing for a bumper crop this fall.

Demand for the Instagram-friendly nuts have driven up margins for farmers, who are preparing for a bumper crop this fall.

We at @bloomberg.com just launched Business of #Food, a weekly newsletter focused on how the world feeds itself.

Sign up here: www.bloomberg.com/account/news... #BusinessofFood

Global Food Companies Are Struggling to Deliver Methane Progress In 2023, some of the world’s largest food companies made a pledge to slash methane emissions. They promised to publish data and action plans by the end of 2024. Here's why Starbucks, General Mills and others are struggling to address the potent emissions in their supply chains. (Source: Bloomberg)

In 2023, some of the world’s largest food companies made a pledge to slash methane emissions. They promised to publish data and action plans by the end of 2024.

Here's why Starbucks, General Mills and others are struggling to address the potent emissions in their supply chains.

Your Orange Juice Will Soon Have Even Less Real Orange In It As orange supplies suffer from greening disease, the flavor and fragrance industry is developing workarounds to keep the taste of bottled juice consistent.

Soon, your morning glass of OJ will have even less fruit in it as Florida expects its worst orange harvest in nearly a century

Your Orange Juice Will Soon Have Even Less Real Orange In It As orange supplies suffer from greening disease, the flavor and fragrance industry is developing workarounds to keep the taste of bottled juice consistent.

Flavors are playing an even bigger role in the #orange juice supply chain, as trees hit by the citrus greening disease yield fewer — and more bitter — fruits.

🍊🔗: www.bloomberg.com/news/article... w/ editing by @silviakillings.bsky.social via @bloomberg.com

RFK Jr.'s Quest to Make Americans Eat Healthier Will Be Costly Ultra-processed foods have made US diets among the least expensive — and the most unhealthy — in the world. The health secretary wants to change that.

The MAHA Commission report is coming soon. ICYMI, my colleagues and I last week unpacked some of the key changes RFK Jr. has previously talked about & how they would shape the US food system.

🎁🔗: www.bloomberg.com/news/feature... w/ @deenashanker.bsky.social & Agnieszka De Sousa via @bloomberg.com

The Sugar Industry Had Dodged RFK Jr.’s Health Drive — Until Now Sugar producers thought they had escaped Robert F. Kennedy Jr.’s Make America Healthy Again agenda.

Health secretary RFK Jr. called sugar "poison" in late April, putting the sugar and sweets industries on alert at conferences in NY and Indianapolis last week.

🍭🎁🔗: www.bloomberg.com/news/article... with @kubz.bsky.social via @bloomberg.com

RFK Jr.'s Quest to Make Americans Eat Healthier Will Be Costly Ultra-processed foods have made US diets among the least expensive — and the most unhealthy — in the world. The health secretary wants to change that.

Switching from seed oils to beef fat is a MAHA-approved move, but costs double. Great look from @deenashanker.bsky.social @ilenapeng.bsky.social & Agnieszka De Sousa at how expensive it will be for the food industry to switch to organic foods, natural dyes, & more: www.bloomberg.com/news/feature...

RFK Jr.'s Quest to Make Americans Eat Healthier Will Be Costly Ultra-processed foods have made US diets among the least expensive — and the most unhealthy — in the world. The health secretary wants to change that.

Many of RFK Jr's policies and ideas for food are widely supported in the nutrition community. Some are not. Either way, they would drive up prices. My latest with my colleagues @ilenapeng.bsky.social and Agnieszka De Sousa.

www.bloomberg.com/news/feature...