This week's top news for the food and beverage industry centered around one very disturbing virus making its way into the United States. Coronavirus, or COVID-19, has been responsible for deaths of not only people, but also tradeshows, conferences, and travel.
Topping out our news this week was the Natural Products Expo being postponed. At first, concerns over the health and safety of participants prompted many companies to pull out of the popular tradeshow, but later on in the evening, the show's producers announced the the expo would be postponed to a later date.
In similar coronavirus news, the CEO of Constellation Brands went on the record to dispel myths about Corona beer and its tie-in with the illness, citing that sales of the beverage have taken a hit. Also adding to its coffers because of near pandemic-level health threats are food companies. We reported in Food Stocks Get Bump from Coronavirus, consumers are stocking up their pantries for extended periods at home, which prompted S&P 500’s packaged food index as a whole to rise 4.7%, its biggest gain in more than three years.
Keep up with the latest on the Coronavirus, symptoms, and alerts on the CDC's website. Also helping food processors stay updated on the impacts and potential issues for the outbreak is The Acheson Group, which is offering legal and consulting help for food companies.
Outside of the realm of a global outbreak, other news making headlines focused on the analogue meat stage. Specifically JBS is entering the U.S. plant-based protein fray and Bumble Bee is getting ready to sting with its faux seafood. All of this is transpiring while a price war is dawning analogue for all of the meats.
Last, but certainly not least, two companies rode the highs and lows this week in terms of employment. Mars is sweetening the pot for its employees by being the only food company in Fortune's 100 Best Companies to Work For to make the magazine's annual list in 2020. Not nearly as high, cannabis company Canopy Growth announced it was closing greenhouses and laying off 500 employees.
Erin Hallstrom is the resident geek of FoodProcessing.com and the author of our Working Wit blog, she's responsible for the digital strategy for FoodProcessing.com including posting content, managing social media, and analyzing reader data. She's a Toastmaster, a Black Belt in Karate, and an Improv Performer to boot. Erin also is a founding member of the Influential Women in Manufacturing program and is a producer and host of our Manufacturing Tomorrow's Workforce podcast. Give her a shout-out or get in touch with her via email.
