Weekly Roundup: Mondelēz expands cocoa investment, Consumers take food safety risks amid price pressures

28 Oct 2022 --- Mondelēz International plans to bring its Cocoa Life program total investment up to US$1 billion, while Olam Agri launched its Seeds for the Future Foundation in Nigeria. Beyond Meat unveiled its plant-based Beyond Steak, and Heura is on track for the largest European Series B round in the plant-based industry. Meanwhile, a consumer survey tracked the cost of food and its impact on food safety.

In brief: Sustainability
Mondelēz International announced the next phase of its Cocoa Life program, backed by an additional US$600 million through 2030, for a total US$1 billion investment since the start of the program. The confectionery giant will increase cocoa volume at scale and work with about 300,000 farmers in the program by 2030. The company aims to catalyze sector collaboration to help address systemic environmental and human rights challenges and improve cocoa farmers’ livelihoods.

Olam Agri has inaugurated The Seeds for the Future Foundation in Nigeria to strengthen opportunities for farmers and communities along its value chain. The Seeds for the Future Foundation will focus on four key social action pillars:

• Supporting farms and farmers to strengthen local wheat production.
• Enabling wider education and skills development for young people.
• Empowering women in farming communities.
• Promoting health and nutrition across the country.

In brief: Plant-based highlights
Beyond Meat launched Beyond Steak, its latest innovation designed to “deliver the juicy, tender and delicious bite of seared steak tips with the added nutritional and environmental benefits of plant-Beyond Meat enables consumers to eat the foods they love without compromising taste, nutrition or sustainability.based meat.” Beyond Steak will be available at Kroger and Walmart stores in the US, as well as at select Albertsons and Ahold divisions and other retailers. With 21 g of protein per serving, Beyond Steak delivers the tender bite, and savory taste consumers crave while offering nutritional benefits, including being low in saturated fat and having 0 mg of cholesterol with no added antibiotics or hormones.

Brevel, the microalgae-based alternative protein company, and Vgarden, a developer and manufacturer of plant-based foods, are collaborating to create plant-based cheeses and additional food products containing Brevel protein. Brevel will provide Vgarden with the microalgae protein, and Vgarden will develop vegan, plant-based foods products that incorporate the protein. After the development period, the products are expected to be on shelves in 2023.

Heura, a European plant-based food tech start-up, announced its latest €20 million (US$19.98 million) funding round, including the issuance of convertible notes that lead to equity in what’s anticipated to be one of 2023’s largest Series B rounds in Europe in the alternative proteins industry. The investment round included contributions from NBA star Ricky Rubio, football players Sergi Busquets and Sergi Roberto, comedian David Broncano, and Unovis Capital. 

Ag-tech company Biotalys and Novozymes have announced the outcome of the feasibility study for Evoca, Biotalys’ first proprietary biocontrol product candidate. Novozymes obtained proof of concept for a new manufacturing process that offers potentially high cost of goods and scaling advantages, thereby broadening the commercial potential of Evoca as a novel biofungicide.

In brief: Global food systems 
The Food Standards Agency has found that some consumers are taking food safety risks because of money pressures and rising energy costs. Data from September 2022 shows that 40% of participants reported feeling worried about being able to afford food in the next month, and 30% of participants reported that they had skipped a meal or cut down the size of their meals because they did not haveEvidence by the Food Standards Agency has found some consumers are taking food safety risks because of money pressures and rising energy costs. enough money to buy food in the last month. Meanwhile, 32% of participants reported eating food past its use-by date at least once in the past month because they couldn’t afford to buy more food. 

The FAO of the United Nations and the United States Agency for International Development (USAID) are scaling up efforts to strengthen global animal food security to protect human lives and livelihoods while improving agri-food systems and safeguarding the environment. USAID has reaffirmed its commitment to a longstanding and impactful partnership with FAO by granting US$250 million to fund the FAO Global Health Security Programme (GHSP) for another five years (2022-2027). The new funding will assist in implementing the Quadripartite One Health Joint Plan of Action (OH-JPA) by enabling countries to sustain, with FAO support, the critical animal health and One Health capabilities developed in over 30 countries in Africa, South Asia and the Pacific, North Africa and the Near East. 

The publication of the Food Vision Dairy report allows Irish Dairy to increase further and enhance its competitive advantage in global markets, according to Dairy Industry Ireland (DII), the Ibec association representing the Irish dairy and specialized nutrition sector. It can do this with meaningful and advanced climate action while sustaining Ireland’s economic opportunity, particularly in rural Ireland. DII particularly welcomed the strong stakeholder engagement in shaping the report’s recommendations designed to address the significant agriculture climate change target of a 25% reduction by 2030 agreed upon by the government over the summer.

By Elizabeth Green