Crypto News: Supply Lines: Global food roundup

From China's revenge beef buying to a baby chicks shortage and European weather risks, here's a snapshot of key food stories from around the world:

Salad Shortages

The great British salad crisis continues. UK supermarket bosses were summoned to meet with the government to explain how they will ensure availability of tomatoes, cucumbers and peppers. A handful of major grocers have had to ration purchases in the hope common courtesy can help them avoid free-for-alls in the fresh fruit and vegetable aisles.

Empty shelves in the fruit and vegetable aisles of a Tesco supermarket, Burgess Hill. Source: Getty Images/Getty Images Europe

In the meantime, growers are calling for more government help to stave off further produce shortages — demanding a more reliable workforce, cheaper energy bills and fairer retail negotiations. And Bloomberg Opinion's Lara Williams argues that the salad shortage highlights a challenge facing many nations around the world: ensuring food security in light of climate change and other issues.

Weather Watch

An atypically mild winter combined with a lack of precipitation are having consequences across Europe, particularly for farmers. Shallow waters on the Rhine are disrupting barge traffic and forcing up shipping costs, an early indicator the continent may need to brace for a redux of the seismic economic shock caused by last year's drought.

Much of France and southern Britain has had less than a quarter of normal rainfall in the past month, and some growers are trimming plantings of potatoes, carrots, parsnips and onions because there may not be enough water to irrigate them in the coming months.

More Food for Thought

As consumers in China flock back to hot pot chains and high-end restaurants after strict Covid-19 lockdowns, they're going to be splurging on good quality beef. Spaniards, on the other hand, have cut back on fresh meat and fish amid the cost-of-living crisis.

—Agnieszka de Sousa in London

Baby chicks | An unprecedented global bird flu outbreak is causing pain in China, as the world's second-largest poultry producer runs short of baby chicks. Since the start of the year, prices have soared, threatening to drive up food inflation but also exposing a weak link in Beijing's efforts to shore up food security. The world's largest market relies heavily on imported breeding stock for white-feathered broiler chickens, which account for more than half of the country's chicken production. Baby chicks from the top chicken breeder in China were quoted at around 6 yuan ($0.86) per chick this week, three times the price at the start of the year. (Read full story here).

Junk food | The bulk of food and drinks sold by four out of five global producers across three major markets are unhealthy, a survey showed.
Easing costs | Global food costs edged down again, extending their retreat to the lowest in 17 months, although consumers continue to feel the pinch at grocery stores.
Crop traders | Hedge funds and proprietary trading firms are beefing up agricultural markets expertise as big price swings have made even relatively niche corners of commodities trading lucrative in the past year.
Brexit deal | Business chiefs in the UK are upbeat over the Northern Ireland trade agreement.
Cocoa deforestation | As the cocoa industry boasts increased sustainability, low farmer pay may be accelerating rainforest destruction.
Wheat boost | Canada, one of the world's top wheat exporters, is poised to add to an already abundant breadbasket.
Dubai dining | A new wave of homegrown chefs are building a cuisine all the city's own.

Coffee in China | Mainland China's coffee consumption per head is far lower than other markets such as Taiwan and Japan, where tea likewise has deep cultural roots, according to Bloomberg Intelligence.
Fertilizer supplies | Russian fertilizer supply faces disruptions on shipping and insurance restrictions, while China has export curbs to ensure it has enough for domestic use, Bloomberg Intelligence says.
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