Europe’s farm fail

EU governments showed their true colors on reforming the bloc’s mammoth farm policy this week — and that color’s not green.

Four days of negotiations billed as the prime moment to finalize a new Common Agricultural Policy blew up on Friday in a skull-crunching head-to-head clash between governments and members of the European Parliament over how much of the €270 billion budget should be set aside for greener kinds of farming.

The CAP is the single biggest tranche of the regular EU budget and campaigners have pressed the European Commission’s green supremo Frans Timmermans to ensure that those payments secure a paradigm shift from business-as-usual industrial farming to more environmentally friendly methods.

That switch to greener farming looked a remote prospect after Friday’s breakdown, with talks now shunted into June. The failed negotiations revealed a chasm of divergent views between governments, EU officials and MEPs on how to make agriculture more climate-friendly, and left the bloc’s 10 million farmers in the dark about what’s in store in the next five-year CAP, which has already been delayed by two years.

“Some member states have zero willing, but really zero, to change anything. They wanted a reform that does not change anything at all,” said European People’s Party lawmaker Herbert Dorfmann.

As talks reached their climax on Thursday afternoon, MEPs were seething at a proposal from EU countries that walked back the environmental ambition even further than what countries had offered the previous day, and was light-years away from what the European Parliament wanted.

The proposal would have given countries a loophole to spend just 18 percent of their main subsidies pot on the new “eco-scheme” programs, a flagship element of the CAP meant to encourage more sustainable farming from agro-forestry to organic agriculture. Countries argued the loophole was needed in case farmers don’t take up the green schemes, but Parliament rejects that and has pushed for a higher 30 percent ring-fence.

MEPs flatly rejected the offer from countries, as represented by the Council of the EU. They regarded the offer as an attempt to bulldoze the Parliament, an institution which is often considered the junior partner in EU negotiations.

Agriculture ministers reacted furiously at a 2 a.m. roundtable. Greece’s Spilios Livanos accused MEPs of blackmailing democratically elected governments by daring to turn down their proposal. “I sincerely don’t understand how the European Parliament reacts to this dialogue and I find it totally disrespectful to all of us,” he told ministers and diplomats, to a round of applause.

Into the dark

Shortly afterward, the Council turned off the cameras despite the session having been advertised to journalists as a public session and ministers continued their talks in what was described by an EU diplomat as “a very bad atmosphere.” Countries ultimately did not give Portugal, which holds the rotating presidency of the Council, a fresh mandate to keep negotiating with Parliament, torpedoing the talks early on Friday.

The reluctant decision to postpone talks for another month represents a blow for Portugal, whose Agriculture Minister Maria do Céu Antunes had stressed that the end of May was the latest possible moment for tying up the CAP.

At a press conference, she put a positive spin on the talks, saying: “We did say that we would have liked to conclude this process in May but that doesn’t mean we are giving up.” She said that Portugal still aims to wrap up the CAP reform before the end of its presidency and insisted that “there are a whole host of points on which we do agree.”

But the reality was that negotiating sides drifted further apart, rather than converging, across the week.

Negotiations broke off with Parliament still pushing the Council to be greener on a host of other issues. These included linking the CAP strongly to the EU’s broader Green Deal plans, the basic land management conditions farmers will have to meet to receive any EU subsidies, how much money to set aside for longer-term green investments, and also which payments should be classed as climate-friendly.

Diplomats from two EU countries said they felt Portuguese diplomats had made a grave error by presenting the provocative proposal to the Parliament, as there was no way it could have formed the basis for a reasonable compromise.

“In Council last night it became really clear that it was impossible to get a new proposal that would allow for a deal today. It was a clusterfuck,” one of the EU diplomats commented. They described the week of talks as “so unprofessional from every side.”

But on Friday France was keen to project an image of unity among countries, stressing that Portugal still had the full backing of the Council. Turning its guns on MEPs, the French agriculture ministry signaled to journalists that all ministers were united in opposing the Parliament’s proposals, deeming them unworkable, and arguing that the Parliament showed little willingness to listen.

MEPs from across the political spectrum were united in criticizing the Council’s attitude toward them. The EPP’s Norbert Lins told journalists: “I expect the Council to respect us as co-legislators.” This was echoed by Green lawmaker Benoît Biteau, who said: “The Council has not understood that the Parliament is a co-legislator, that it is not for the Council to impose their vision of things, of the CAP, of European agriculture.”

The bitter post-mortem of the breakdown of talks was not limited to a spat between MEPs and governments.

EU Agriculture Commissioner Janusz Wojciechowski defended the role he and his superior Timmermans played in the talks, having taken flak from powerful agricultural ministers of Germany and Spain for so strongly supporting the Parliament’s greener push. “The role of the Commission is as a kind of facilitator and mediator, but I don’t think it can be a completely neutral role.”

Styling himself as the champion of real farmers, he took a dig at pesky national administrations, whom he blamed for whipping up fears that eco-schemes money would go to waste.

The skirmish leaves MEPs emboldened to push home their demands for a greener CAP during the next set-piece negotiations in Luxembourg on June 28 and 29.

Want more analysis from POLITICO? POLITICO Pro is our premium intelligence service for professionals. From financial services to trade, technology, cybersecurity and more, Pro delivers real time intelligence, deep insight and breaking scoops you need to keep one step ahead. Email [email protected] to request a complimentary trial.

EU fails to agree farming subsidies deal amid disputes over green schemes

… agriculture, which is the most frequently reported source of pressure on Europe … negotiations with the European Parliament and the European Commission. EU agriculture commissioner Janusz … as organic farming or re-wetting peatlands to absorb CO2. EU member …

Blending bush tucker with European cuisine?

By ERWIN CHLANDA

Bush food from The Centre seems set to play a role in international export and investment as relations with China are in turmoil and Australia is negotiating a free trade agreement with the European Union (EU).

A 19 member delegation from 14 countries – ranging from Germany, France, Italy, Spain, Poland, to the new ones, like Estonia – were in Alice Sprigs yesterday.

The group was headed by the German ambassador of the EU to Australia, Michael Pulch, in search of “opportunities for trade and investment”.

Asked for what he regarded as the highlights he named a demonstration and tasting of bush foods by Rayleen Brown, co-founder and owner of Kanga’s Can Cook.

He said blending traditional foods with modern cuisine in Europe would “enrich” the food.

“I am convinced there is a market for these type of products in Europe.

“Particularly young Europeans are now looking for healthy food, organic food.

“There is a strong vegan development in Europe, and many of these products would fall exactly into these type of categories.”

Aboriginal art came a close second for Dr Pulch: “And of course Central Australia is the birth place of Indigenous arts, and no visit to Alice Springs would be fully consumed without having access to the fine art that is produced here by Indigenous artists.”

He described the planned national Aboriginal art gallery as a “very good idea”.

The Indigenous owned dialysis service The Purple House impressed the delegation by “how they deal with medical supplies in their care for the Indigenous population”.

Dr Pulch said the development of technology permitting the reduction of coal requires rare earths, scheduled to be mined north of Alice Springs, and other minerals: “We are very interested in diversifying our supplies.”

The negotiations started in June 2018, with the 11th round due next week. Dr Pulch says he is “optimistic” a conclusion can be reached by the end of this year or early next year.

The deal wants to engage small to medium-sized companies: “These are the backbone to our economy in Europe and in Australia,” including Indigenous businesses, traditional food, medicine and arts.

PHOTO: Dr Pulch (front) and European delegates are introduced to bush tucker by Rayleen Brown.

Looking For European Baby Formula? Many American Parents Are.

Branded Content by Cosmic Press

American Parents Are Buying European Baby Formula Lately

Certain things are synonymous with the United States. Catchphrases such as “Buy American Made,” and so on.

But plenty of American parents are turning to Europe to supply their baby formula. Why? No matter which country you’re in, ordering international always takes longer. So there must be something worth the wait.

Benefits of European Baby Formula

Sure, lots of companies brag about how “organic” their product is. But it’s is a term that can be used very loosely. European formula brands are among the most genuinely organic on the market.

Organic Without The Air Quotes

The standards of the US Dept. of Agriculture for what qualifies as organic are high. But the regulations in Europe are even higher… and more strict.

For example, some baby formula that is manufactured in Germany is made from cows that are not only free of chemical treatments themselves, but they’re also forbidden from grazing in pastures where there’s a presence of hazardous chemicals on what they graze. It’s part of a practice called biodynamic agriculture.

Other European baby formulas are tailor-made for infants that struggle with allergies and acid reflux.

Plenty of Probiotics

Your gut flora is a big part of your health and your ability to digest your food. Probiotics balance the bacteria in an infant’s intestines and help them digest their food the most efficiently and comfortably. European baby formulas include some brands that manufacture formulas of probiotics in them.

Now it’s true that some American brands also have probiotics in their baby formula, but for some reason, European brands have a higher “horsepower” than American probiotics.

This is partly due to organic farming regulations, the ingredients used, and tight limitations on what can be added.

Goat’s Milk is Like Mother’s Milk

Formula based on cow’s milk isn’t always the best thing for a baby since some babies have problems digesting it. Goat’s milk contains short and medium-chain fatty acids, which means it’s simpler to digest for most babies. These acids are gentler on your baby’s digestive tract and easier to absorb.

In this age where everyone is allergic to something, goat’s milk includes fewer allergenic proteins. The industry doesn’t want you to know this, but cow’s milk is the leading cause of allergies found in infants.

One of the European baby formula makers getting high marks is Tastyganics.

They supply not only truly organic baby formula and formula for babies with special needs but also good first foods such as porridge free from pesticides and carcinogens.

Tastyganics Gets Good Feedback From American Parents

Scattered reviews about Tastyganics, which Google can garner, include compliments such as

• Fast Shipping

• Speed in Communication

• Prompt Attention to Resolving Issues

• Good Selection

• Dependable for Infants With Food Intolerance

• Attentive Customer Service

They put themselves across as a company with a natural selection that wants to make sure you get what you ordered in one piece. And the reviews solidify that positioning. Why not try your tour of European baby formula with them?

Branded content furnished by our promotional partners. The Daily Sundial editorial staff is not involved in its production.

The Food And Beverages Industry Sees An Increased Demand For Clean Label Products

The Business Research Company’s Food And Beverages Market Report – Opportunities And Strategies – Global Forecast To 2030

LONDON, GREATER LONDON, UK, May 27, 2021 /EINPresswire.com/ — The demand for clean label products is increasing rapidly owing to significant rise in awareness of healthy eating. Clean label dairy products do not contain additives, artificial flavor enhancers, dyes or artificial preservatives. Also, many food service and retail grocery store chains are stating lists of ingredients that cannot be present in food items in their stores or restaurants. According to a food and beverage market research survey of 1,000 customers in the UK and Russia by Ingredion in 2016, 70% of consumers purchasing dairy and bakery products are aware of clean labels and the presence of clean labels influences their buying decisions and 30% of consumers are looking for some kind of clean label claim.

The F&B market consists of sales of food, beverages, pet food and tobacco products by entities (organizations, sole traders and partnerships) that produce beverages, food, animal and pet food, and tobacco products. The companies in the food and beverages industry process raw materials into food, pet food and tobacco products, package and distribute them through various distribution channels to both individual customers and commercial establishments.

Major companies in the global food and beverage industry include Nestle S.A, Philip Morris International Inc, PepsiCo, JBS S.A., Anheuser Busch InBev.

Read More On The Global Food And Beverages Market Report:
https://www.thebusinessresearchcompany.com/report/food-and-beverages-market

The global food and beverage market size is expected to grow from $5838.8 billion in 2020 to $6196.15 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8163.61 billion in 2025 at a CAGR of 7%.

Asia Pacific is the largest region in the global food and beverages market, accounting for 42% of the market in 2020. North America is the second largest region, accounting for 22%. Africa is the smallest region in the global market.

TBRC’s food and beverage market segments by type are alcoholic beverages, nonalcoholic beverages, grain products, bakery & confectionary, other foods products, frozen and fruit & veg, dairy food, meat, poultry and seafood, syrup, seasoning, oils, & general food, animal and pet food, tobacco products, by distribution channel are supermarkets/hypermarkets, convenience stores, e-commerce, others, and by nature are organic and conventional.

Subsegments covered are beer, wine and brandy, spirits, coffee and tea, soft drink and ice, flour, rice and malt, other grain products, breakfast cereal, sugar and confectionery products, bread and bakery products, cookie, cracker, pasta, and tortilla, perishable prepared food, snack food, all other miscellaneous food, frozen food, canned and ambient food, milk and butter, cheese, dry, condensed, and evaporated dairy products, ice cream and frozen dessert, meat products, poultry, seafood, flavoring syrup and concentrate, seasoning and dressing, fats and oils, pet food, animal food, cigarettes, cigars and cigarillos, smoking and other tobacco products.

Food And Beverages Market – By Type (Alcoholic Beverages, Non Alcoholic-Beverages, Grain Products, Bakery And Confectionery, Frozen And Fruit & Veg, Dairy Food, Meat, Poultry And Seafood, Syrup, Seasoning, Oils, & General Food, Animal And Pet Food, Tobacco Products, Other Foods Products), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Food Service Stores, E-Commerce and Others), By Nature (Organic, Conventional Food And Beverages) And By Region, Opportunities And Strategies – Global Food And Beverages Market Forecast To 2030 is one of a series of new reports from The Business Research Company that provides food and beverages market overview, forecast food and beverages market size and growth for the whole market, food and beverages market segments, and geographies, food and beverages market trends, food and beverages market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

Request For A Sample Of The Global Food And Beverages Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=1861&type=smp

Here Is A List Of Similar Reports By The Business Research Company:

Immunity Boosting Food Products Market – By Type Of Product (Herbs & Spices, Nuts & Seeds, Fruits & Vegetables, Dairy-Based Products, Probiotics and Prebiotics, Food Supplements, Others), By Distribution Channel (Store-Based, Non-Store-Based), By Form (Tablets, Capsules, Powder, Liquid, Fresh Food, Chilled/Frozen, Canned, Dried Food, Other Forms), And By Region, Opportunities And Strategies – Global Forecast To 2030
https://www.thebusinessresearchcompany.com/report/immunity-boosting-food-products-market

Organic Food Global Market Report 2021: COVID-19 Growth And Change To 2030
https://www.thebusinessresearchcompany.com/report/organic-food-global-market-report

Functional Beverages Market – By Type (Energy Drinks, Sports Drinks, Nutraceutical Drinks, Dairy-Based Beverages, Juices, Enhanced Water, Others), By Function (Health and Wellness, Wealth Management), By Distribution Channel (Brick and Mortar, Specialty Foodservice stores, Online), And By Region, Opportunities And Strategies – Global Forecast To 2023
https://www.thebusinessresearchcompany.com/report/functional-beverages-market

Food And Beverages E-Commerce Global Market Report 2021: COVID-19 Growth And Change To 2030
https://www.thebusinessresearchcompany.com/report/food-and-beverage-e-commerce-global-market-report-2020-30-covid-19-implications-and-growth

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After three years of haggling, EU farm deal expected this week

By Kate Abnett

BRUSSELS (Reuters) – European Union agriculture ministers said negotiators are close to a deal that aims to reform the bloc’s huge farming subsidy programme, protect small farms and bring agriculture in line with environmental goals.

The EU’s Common Agricultural Policy (CAP) will spend 387 billion euros ($474 billion), around a third of the EU’s 2021-2027 budget, on payments to farmers and support for rural development. The new rules kick in from 2023.

Ministers from the 27 member states began two days of talks in Brussels on Wednesday, a day after negotiators from the European Parliament, member states and the European Commission began their final meeting of a nearly three-year struggle to reform the CAP.

“We are reaching the finishing line,” German agriculture minister Julia Kloeckner said.

Negotiations are scheduled to finish on Wednesday, but are expected to overrun.

The CAP reform aims to align agriculture with the EU’s green goals, by curbing the 10% of EU greenhouse gases emitted from farming and reducing the pressure on natural habitats from intensive practices, including pesticide use and irrigation.

Negotiators are tussling over plans to spend between 20% and 30% of payments to farmers on schemes that protect the environment, such as organic farming or restoring wetlands to absorb CO2 from the atmosphere.

Environmental campaigners say the reforms lack firm targets – for example, to reduce greenhouse gas emissions – and would do little to reduce industrial farming.

The reforms will also attempt to halt the loss of Europe‘s small farms, by stopping big businesses sucking up most of the money.

EU climate policy chief Frans Timmermans has said 80% of CAP payments go to 20% of the beneficiaries, with big landowners and agro-industry firms profiting while family farms “get the short end of the stick”.

Proposals under discussion could cap the amount of cash that each recipient gets, or require countries to redistribute part of their CAP funds to smaller farmers.

Negotiators on Tuesday agreed to scrap a contentious plan that would have banned food companies from comparing plant-based products to dairy in their marketing, for example by labelling almond-based drinks as creamy.

Pekka Pesonen, secretary-general of European farmers and agri-cooperatives group Copa Cogeca, said the reforms must ensure Europe’s farmers remain competitive.

“We are facing international competition that clearly doesn’t follow the same set of rules that European farmers have to comply with,” he said.

($1 = 0.8173 euros)

(Reporting by Kate Abnett; additional reporting by Sabine Siebold, Marine Strauss, Victoria Waldersee; editing by Barbara Lewis)

Shangri-La reopens hotels across key cities

Shangri-La in London, Vancouver and Paris ready to welcome guests back for moments of spring and summer bliss. Following months of closure, the properties prepare to welcome locals and travellers with exciting new dining offerings, room packages, wellness programs, romantic experiences and more.

Shangri-La Hotel, At The Shard, London welcomes guests for sensational spring

On May 17, Shangri-La Hotel, At The Shard, London reopened its doors, welcoming guests with new seasonal experiences and programs, all heightened with whimsical countryside décor and trailing wisteria to honor the spring season.

Guests can enjoy personalised overnight stays with the hotel’s “The Suite Life” programme, taking personalisation to the next level with a tiered array of exclusive benefits, which can be customised to suit the individual guest’s preferences and needs. Services range from in-room yoga mats and a personal bath butler, to private shopping experiences, fresh seasonal flowers, daily personalised food amenities, in-room mixology, monogrammed pillows and more.

For guests wishing to start or continue their wellness journey, the hotel has taken a holistic approach with multiple experiences, including a spa collaboration with organic skincare purveyor Neal’s Yard Remedies with special treatments that are offered in the hotel’s treatments rooms or in the comfort of the guest’s room. Beyond the guestroom, TĪNG Restaurant has introduced a refined vegan tasting experience, which is in line with Shangri-La’s Rooted in Nature sustainable dining programme.

Shangri-La Hotel, At The Shard, London further extends new experiences to its restaurants with two unique afternoon tea offers that are sure to please any palate. Western Europe’s highest hotel bar GŎNG launches Liquid Afternoon Tea, an exciting new concept with food and miniature cocktail pairing that features a line-up of tea-inspired tipples, accompanied by a selection of sweet and savoury fare. As a nod to the bar’s Asian heritage, the menu boasts contemporary Asian snacks including beef tataki nigiri and salmon sushi, as well as scones and more. Guests who dine at TĪNG can enjoy afternoon tea served on cloud nine with the new Picnic Afternoon Tea in the Clouds featuring a selection of delicious finger sandwiches, handcrafted desserts, freshly baked scones, and an exclusive selection of loose-leaf teas from Camellia’s Tea House. A takeaway Picnic Afternoon Tea packed in a wicker hamper is also available for guests on the go to enjoy in one of the area’s beautiful nearby parks. 

Shangri-La Hotel, Vancouver reopens its doors on May 22

On May 22, Shangri-La Hotel, Vancouver welcomed guests to experience the hotel and destination like never before. Guests can sightsee and relax with the Luxurious Perspectives: Helicopter Views and Spa Suites offering a private helicopter tour with in-flight champagne and a private spa experience in one of CHI, The Spa’s relaxing spa suites.

Wellness seekers can find their bliss at Shangri-La Vancouver’s CHI, The Spa and its new partnership with Bowen Island’s Sangre de Fruta Botanical. The line of exceptional organic products for the face, body and hair are inspired by secrets of holistic indulgences, and created from the fruit of the earth in small batches by Allison Audrey Weldon.  The partnership marks the very first time Sangre de Fruta Botanical products are used exclusively in luxurious spa treatments created specifically around them, complementing the products’ aromatic delights, tangible benefits, visible results and overall beautiful feeling. The exclusive treatment selection is inspired by the natural beauty of the West Coast of British Columbia. A sensational new treatment menu and retail options will be available to guests, including a limited-edition “Sangre de Fruta Experience” package that features a 60-minute massage and botanical hair treatment for CA$225 (about $183).

The hotel will also introduce guests to Miantiao, a brand-new dining destination and restaurant concept in partnership with the award-winning Kitchen Table Restaurants led by Culinary Director Alex Tung. Miantiao, the Mandarin word for noodle, will combine Italian and Chinese cuisine onto one menu with a thoughtful offering of traditional cookery served with delicious and exciting twists.  Showcasing the very best of Italian, Chinese and Canadian ingredients, the refined cuisine of Miantiao will provoke thought and emotion.  The Miantiao culinary program can be described as Italian cuisine elevated with Chinese sensibilities, and Chinese gastronomy uplifted by the elegant simplicity of Italian cuisine.  Guests can expect unparalleled pasta fresca, twist on the famous traditional Peking Duck, a cornucopia of the freshest seafood and interesting interpretations of cornerstone dishes from Italian and Chinese cuisine.

Shangri-La Hotel, Paris reopens its palace doors on June 1

Just in time for summer, Shangri-La Hotel, Paris will reopen its palace doors on June 1. Guests will be welcomed in true Parisian luxury with stunning Eiffel Tower views and palatial elegance. Chef Christophe Moret & Pastry Chef Maxence Barbot have reimagined the dining experience at La Bauhinia with a chic yet relaxed environment that will feature verdant summer terraces, along with exclusive concepts on Le Bar à ciel ouvert and in-room dining with a view.

Guests seeking an elevated Parisian experience will enjoy the Signature Suite Experience for an unforgettable stay in one of the hotel’s elite guestroom – La Suite Chaillot, La Suite Gustave Eiffel, L’Appartment Prince Bonaparte or La Suite Shangri-La. The luxurious stay begins with a VIP meet and greet in a Mercedes S-Class at the airport upon arrival, and continues to the guestroom with VIP in-room amenities including jasmine tea, a fresh fruit basket and bottle of champagne.

Guests in need of a romantic getaway can visit Shangri-La Hotel, Paris with the Romance in Paris package, inclusive of a dreamy welcome with rose petals, a separate bouquet of beautiful roses, tailor-made amenities including a bottle of champagne and special romantic treat, daily breakfast and late check out. Should guests wish to further elevate the romance, the hotel offers value-added benefits including a selection of decadent caviar, a 60-minute Signature Rebalancing Massage at CHI, The Spa, or a private dinner on the guestroom terrace with butler service.

For guests wishing to make the most of their time in the French capital, guests can book the Your Parisian Escape package, which includes a complimentary night when booking a minimum of three nights. – TradeArabia New Service

Discovery of rare mushroom in northern B.C. a biology mystery

…  cauldron is typically found in northern Europe, where it’s threatened … in the forest, decomposing that organic matter? Or is it actually … the tree … in exchange for food to help it grow?…

Fewer, bigger, more intensive: EU vows to stem drastic loss of small farms

The EU is to introduce sweeping reforms of farming subsidies this week to try to halt the decline of small farms and protect them from the intensification of agriculture fostered by decades of previous policies.

Janusz Wojciechowski, the EU agriculture commissioner, said: “My intention is that this process of disappearing small farms should be stopped. The European food sector in the past was based on small farms, and it should be in the future as well.”

Analysis by the Guardian shows that the number of poultry and livestock farms alone in the EU, excluding Croatia, fell by 3.4m between 2005 and 2016, to 5.6m, the latest year for which comprehensive data is available. While poultry and livestock numbers increased over the period, the number of livestock farms declined sharply, showing that there has been a huge intensification of farming and that small farms have been lost. The total number of all types of farm in the EU fell during the same period from 14.5m to 10.3m.

This intensification, with more livestock gathered into a smaller number of farms, many of them large-scale factory-type facilities, accelerated with the EU’s common agricultural policy (CAP), which has dominated Europe’s farming since its introduction in 1962. The biggest farmers benefit most from the subsidy system: about 80% of the €40bn (£34bn) direct payment subsidies go to just 20% of farmers.

Wojciechowski admitted that previous versions of the CAP had produced vast upheaval. “The reason we lost 4m farms in the EU was a mistake in the CAP. The support was too much [geared] to industrial farming and not enough to small and medium farms,” he said.

Reforms to the CAP to be brought forward this week by the EU will include measures to encourage farmers to leave more space for wildlife, to adopt organic standards for livestock, to use less chemical fertiliser and pesticide, and to nurture healthy soils.

Wojciechowski told the Guardian: “Protecting small and medium farms is a priority. It is not true that we need bigger and bigger farms for food security. Small farms can ensure food security for EU citizens.”

He said small and medium farms could provide more than food, as well as environmental and health benefits: “There is an understanding among legislators, parliament and the EU council that we need to protect better our small and medium farms – it’s very important for food security, and better for the environment, climate change and biodiversity.”

European consumers would also feel the benefits, he said. “Exports are important, but we need to pay more attention to our own markets – high-quality goods from European farms to European markets. This is a big chance for European agriculture,” he said.

Animal welfare would also improve, he said, from a greater emphasis on short supply chains, which would reduce the long journeys across Europe for some live animals.

He added: “Our intention is to increase organic food from 8% to 25% in the next decade, for instance. This will be especially good for small farms.”

These reforms may stop some of the haemorrhaging of small farms in the EU, but a return to small farms across the bloc looks increasingly unlikely. The Guardian’s data analysis gives a glimpse of what has been far more than an economic transformation among small farms. In France, Germany and the Netherlands, more than a third of livestock and poultry holdings have disappeared since 2005. Nearly 120,000 poultry farms were lost in France between 2005 and 2016, and nearly 36,000 in Germany.

The impact of the CAP can be clearly seen in the acceleration of the decline of small farms among newer EU states. Among longstanding EU member states, the decline in the number of small farms has been going on for decades. But eastern European farmers have had even more upheaval since 2004, when many joined: since 2005, Bulgaria has lost 72% of its livestock and poultry farms, Hungary 48%, Poland 54% and Slovakia 72%.

In the UK, the decline over the 12-year period from 2005 to 2016 was 25%, with 45,500 livestock and poultry farms lost between 2005 and 2016. The loss was more than 110,000 from the 319,000 total of all farms in 1990.

The CAP, forged in the aftermath of the second world war with the intention of promoting food self-sufficiency in Europe, has rewarded increasingly intensive and industrialised farming methods. Farmers were encouraged to produce more food at any cost, using more chemical fertilisers and pesticides, and bringing livestock from small flocks and herds in fields into large-scale factory farms.

Food production increased, but the environment suffered. The number of farmland birds in the EU has halved in three decades, according to the European Bird Census Council. Insect populations have also plummeted: numbers in Germany declined by three-quarters in the past 25 years, according to a study of protected areas, and butterfly numbers on farmed land in England fell by 58% between 2000 and 2009. Only a quarter of species in the EU have good conservation status, and 80% of key habitats are in poor or bad condition, according to Europe’s environmental watchdog.

Attempts in the past two decades to encourage nature-friendly farming methods, such as leaving hedgerows intact and keeping field margins for wildflowers and wildlife, have had little impact, according to campaigners.

Rural culture has also been transformed, with people flocking to cities, leaving rural areas to wealthy second-homers, with farms abandoned in less productive areas and swallowed up by huge agri-food businesses in others.

“Niche producers offering sustainable farming practices survive haphazardly with the sale of their products to restaurants or small shops, or they sell their live animals outright. They’re cut off from the dominant market,” said Fabio Ciconte, director of the environmental organisation Terra.

Campaigners have warned that the CAP deal to be announced this week is likely to be “greenwash” rather than a real transformation of EU farm policy into one that is good for small farmers and the environment.

Célia Nyssens, policy officer at the European Environmental Bureau NGO, said: “EU farm policy is a juggernaut of public spending that could be transforming agriculture towards a sustainable future and turning the tide on catastrophic nature loss. Sadly, it looks like the deal this week will continue driving the tractor in the wrong direction. A majority of funds will continue flowing to the biggest, most polluting farms, with barely any green strings attached. In this crucial decade for climate and biodiversity, the lack of ambition of the new farm policy is downright disastrous.”

Research on data for this piece by Kunal Solanky

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TASTE OF HOME: The many restaurants in Britain where you can be sure of an Irish welcome

THERE are many restaurants in Britain where you can be sure of an Irish welcome, as well as a dish or two influenced by home.

Here are a few of our favourites…

Edinburgh

Dine Edinburgh 

Saltire Court, 10 (1F) Cambridge Street, Edinburgh, EH1 2ED dineedinburgh.co.uk

In the shadow of Edinburgh Castle, the multi-award winning Dine Edinburgh is a brasserie-style restaurant in the cultural hub of the Scottish capital. Situated above the Traverse Theatre, it is owned by Paul Brennan — Irish on both sides of his family. His restaurant serves the finest locally sourced produce from the Borders and Highlands of Scotland whilst championing small independent cottage industries. Expect dishes such as baked razor clams, or red cabbage and mango slaw with brioche tuile.

Glasgow

Molly Malone’s

224 Hope Street, Glasgow, G2 2UG, 0141 332 2757 www.belhavenpubs.co.uk/pubs/lanarkshire/molly-malones

Most Irish pubs in Britain now serve some food along with the alcohol, often substantial, sometimes imaginative, sometimes not. A handful, however, have taken their culinary interest a step further and now regard their dishes as a vitally important part of what they offer. Molly Malone’s is one such establishment. The pub is situated in the heart of the entertainment hub of Glasgow, just a stone’s throw away from The Theatre Royal and The Pavilion Theatre. The food is generally basic, hearty fare, but served with innovation and panache. As well as one of the best pints of Guinness in town.

Jinty McGuinty’s

21/29 Ashton Lane, Glasgow, G12 8SJ, 0141 339 0747 www.jintys.co.uk/

Jinty’s is another Glasgow bar where you’ll be served a meal that is substantially more than just pub grub. You’ll get burgers, Scottish pies (a delicacy in their on right), but you’ll also get a selection of seafood that wouldn’t disgrace a top restaurant.

There’s great Guinness, great desserts, and everything from oysters to haggis pakoras. And why not? Glasgow is reputedly the birthplace of chicken tikka masala. Many years ago a customer at a nearby Bangladeshi restaurant wanted gravy on his chicken tikka (“It’s too dry, Jimmy”). The customer is always right, a sauce was quickly curated, and so was born Britain’s national dish. Perhaps Jinty’s haggis pakora will reach the same heights of fame.

Jinty’s father, by the way, was Vincent O’Kine, a well-known boxer from the Maryhill area of Glasgow.

London

Allegra

Manhattan Loft Gardens, Queen Elizabeth Olympic Park, 20 International Way, London E20 1FD www.allegra-restaurant.com

Head chef at Allegra in the stunning Manhattan Loft Gardens is Irishman Patrick Powell. He began learning his trade at Dublin’s Michelin-star L’Ecrivain under the acclaimed Irish chef Derry Clarke. He’s now in charge of the Allegra, due to reopen next month. His menu’s focus is modern European influenced by produce from their organic farm just 40 minutes away.

Sorella

148 Clapham Manor St, London SW4 6BX, 020 7720 4662 www.sorellarestaurant.co.uk

A neighbourhood Italian inspired restaurant owned and run by Robin and Sarah Gill and Daniel Joines. Head chef is Ross Mangan.

Robin, from Sandycove, Dublin, spent many years learning his trade on the Amalfi coast.

Corrigan’s Mayfair

28 Upper Grosvenor St, Mayfair, London W1K 7EH, 020 7499 9943 www.corrigansmayfair.co.uk/

Born and raised in Ballyivor, Co. Meath, Richard Corrigan is probably the best-known Irish chef in London. So you can always expect something Irish on the menu at his eponymous restaurant in Mayfair — especially with fellow Irish chef Aiden McGee in charge.

Corrigan’s Mayfair redefines the concept of quintessential British and Irish cuisine, fusing seasonal produce with Richard’s unmistakable flair.

Expect Tipperary beef tartare, or the likes of Carlingford oysters and Irish beef en croute. Many of the ingredients will have come from his farm in Cavan too.

Bentley’s Oyster Bar & Grill

11-15 Swallow St, Mayfair, London, W1B 4DG, 020 7734 4756 www.bentleys.org

Bentley’s has been serving its seafood delights and feeding the hungry shopping masses for over 100 years. Richard Corrigan has been guiding the restaurant for the last dozen years, and turned it into one of the top tables in Europe.

Core by Clare Smyth

92 Kensington Park Rd, Notting Hill, London, W11 2PN, 020 3937 5086 www.corebyclaresmyth.com

Clare Smyth has been called the world’s best female chef — named as such at the World’s 50 Best Restaurant awards gala in Bilbao in June, 2018. Called an outrageously outdated category, the Co. Antrim woman qualifies, quite simply, as one of the best chefs in the world, never mind gender.

She left the farm in Northern Ireland at 16 to train in England, working under Heston Blumenthal and the Roux brothers. She eventually became head chef at Gordon Ramsay’s Chelsea restaurant, earning herself three Michelin stars and an MBE into the bargain.

Homeboy

108 Essex Rd, Islington, London, N1 8LX

The first bar from the Irish duo Aaron Wall and Ciarán Smith, this speakeasy-style establishment — complete with leather banquettes and bare brick walls — serves terrific cocktails such as the Whiskey Smash.

That’s Roe & Co Irish Whiskey, Nolly Prat (vermouth), mint and spinach syrup, orange bitters. Or you might want to sample their Fan a Canta cocktail — Dingle Irish gin, carrot and orange sherbet, acid mix, saline, soda.

Goes perfectly with Tayto crisp sandwiches. Really.

Or you might want to try their “Da’s Irish Stew” –  lamb, carrots, onion, mushroom, parsley, thyme, garlic and “served with Ma’s brown bread”.

Then afterwards you can tuck into the Guinness like your old Uncle Jimmy, you know, the one who was “fond of a drink”.

Liverpool

Shenanigans Irish Pub & Restaurant, 77 Tithebarn Street, Liverpool, L2 2EN, 0151 255 0000 www.shenanigansliverpool.co.uk

Great selection of beers and wine to go with some well-above-average pub grub, The Sunday roast, in particular, is spoken of in hushed tones. They even offer an exceptionally and imaginative fine vegetarian roast option.

Coventry

O’Toole’s Cafe

147 Westwood Road, Earlsdon, Coventry, CV5 6GD otoolescafe.com

An Irish family-run restaurant, with a very ethical outlook. To go with their full Irish breakfasts, soda bread, scones, barmbrack, they serve the award-winning coffee, Indigo Valley. The beans are either Fairtrade or Rainforest Alliance certified.

Newcastle

The Victoria Comet

38 Neville St, Newcastle upon Tyne NE1 5DF, 0191 261 7921 www.nicholsonspubs.co.uk

Classic gastropub grub with strong Irish influences. Colcannon cake to go along with your marinaded salmon, and they serve an excellent pint of Guinness.

The pub might just look familiar if you’re a keen film buff.

It was a set in the cult gangster film classic ‘Get Carter’, as the first stop for Michael Caine’s hitman character when he arrives in Newcastle .

Week Ahead: Markets Entering Choppy Waters

… of financial integration.
EU agriculture ministers hold a two … in the EU, agri-food techniques, and organic farming.
On Thursday … , Innovative and Resilient Europe.”
On Friday, the … continental Europe. Canadians celebrate Victoria Day.
European Council …

Henry Kissinger Interview on Post-Pandemic Politics, China, Europe

• Axel Springer CEO Mathias Döpfner sat down with former US Secretary of State and long-time diplomat Henry Kissinger.
• They discussed the pandemic’s effects on global politics, China’s rise as a world power, and the future of the European Union.
• Axel Springer is the parent company of Insider.
• See more stories on Insider’s business page.

                      Matthias Döpfner, the CEO of Insider's parent company Axel Sprnger, interviewed former Secretary of State Henry Kissinger. The interview <a href="https://www.welt.de/politik/ausland/plus230637421/Henry-Kissinger-Es-gibt-keine-einzigartig-europaeische-Vision.html" data-analytics-module="body_link" rel="nofollow">originally appeared in WELT</a>, another Axel Springer publication, a translated version appears below. Kissinger is a notable figure, <a href="https://www.newyorker.com/news/news-desk/does-henry-kissinger-have-a-conscience" data-analytics-module="body_link" rel="nofollow">if a controversial one</a>, and we thought readers would benefit from reading the conversation. The views expressed by Döpfner and Kissinger are their own.

Mathias Döpfner: You’re looking great, and healthy too. So, is life enjoyable despite the pandemic?

Henry Kissinger: I wouldn’t say enjoyable, but I came through the period well. 

Döpfner: How has you pandemic experience been so far? How has your life changed over the last 14 months?

Kissinger: Well, my life has changed in that I took for granted seeing people socially or in the office. So I miss that easy contact. I have lost an intangible relationship with people around the world. I have a series of Zooms, but it’s not the same. The immediacy of human relationships has been lost.

Döpfner: You are living quite isolated in your country home at the moment?

Kissinger: Yes. We have had nobody over for dinner in over a year.

Döpfner: Do you think that we will appreciate personal interaction more once this pandemic is under control and people are vaccinated? Or do you think that, in the long run, it could change social interaction, with people traveling less, meeting less, having less personal conversations? 

                      Kissinger: Videoconferences are going to replace meetings more than in the pre-pandemic period. Since I have been vaccinated, I am now freer to have an almost normal life. And my wife Nancy and I are planning to spend a month or so seeing friends. I have already had a dinner with old friends in New York. It was about a month of preparation. But things like that will be much more spontaneous from now on. 

Döpfner: What is the pandemic experience going to change in the political context in the long run? Will safety win versus individual freedom? Will autocratic systems gain ground versus democratic centrist systems?

Kissinger: In this country, the majority of people have had health and safety concerns that they’ve never experienced before. And they have been very occupied with maintaining a lifestyle that they used to take for granted. At the same time, there are groups who are systematically urging a new governmental and national philosophy. And while they are not the majority or even close to a majority, they continue pursuing their convictions — while the rest of the country is focused more on day-to-day life, or on very short-term political issues. 

Döpfner: Politicians had to make difficult decisions in the context of the pandemic. For example, legal restrictions concerning border controls and traveling that were considered to be impossible were suddenly possible. You might even say that authoritarian measures had to be implemented in order to save lives. The pandemic has reinforced political authority. And in a couple of countries, at least to a certain degree, people have been very supportive of that. Do you think that democracies are going to be more authoritarian? 

Kissinger: A great deal will depend on the impact of vaccinations, where there is already a wide gap between America and Europe. In the US, daily deaths from COVID-19 have been receding; young people are now being vaccinated; businesses and restaurants are beginning to reopen. Much of Europe remains locked down and fearful. Vaccination is beginning to pick up in Europe, but it remains several months behind America. The exception, of course, is the UK. So, to return to the question of political stability, if vaccination successfully reduces the incidence of the disease then the pandemic will be perceived mostly as a health problem that was overcome. The danger is less that emergency measures taken to fight the pandemic will persist than that if infections remain high for a prolonged period, on either side of the Atlantic, we would then witness a crisis of confidence in leaders and institutions. 

Döpfner: Talking about Europe, the EU has not been very successful, to put it mildly, in deploying vaccinations. The situation is pretty disastrous, and we are lagging behind America, England, even smaller countries like Israel or Chile. Europe seems to be a dysfunctional player in the crisis. Symbolically, it’s interesting that the Biden administration has restricted European travel to the US even more than Trump did. What impact do you think that will have on the current opportunity to re-establish a strategic transatlantic relationship between America and Europe?

Kissinger: In America, there has been growth in national consciousness in this period. It was already developing, encouraged by the previous administration. But more in the sense of indifference to foreigners rather than an active hostility towards foreigners. By contrast, in the period immediately following World War II, and for about 30 years afterwards, the idea that America and Europe were fundamentally linked was widespread, certainly in the educated classes. And contact with foreign countries in that period, especially contact with Europe, was a matter of course. This idea is much less prevalent nowadays. You don’t read reports on European elections in American newspapers anymore, and of course they don’t cover them on television. So, in that sense, a certain psychological separation has taken place.  

Döpfner: You once said that, if Europe and America do not re-establish an intense transatlantic relationship, Europe will end up as an appendix of Asia. Do you see a concrete danger at the moment that this might happen?

                      Kissinger: On the American side, there may be a temptation — certainly in the immediate post-pandemic period — to believe that we can operate in a more isolated manner on the basis of our reasonably good performance towards the end of the pandemic period. The current administration has been making useful pronouncements — with which I agree — about the importance of relinking America and Europe. That's important, but I don't think we've found our way yet to a new practice of the Atlantic relationship. The nature of that linkage is often defined as a return to American leadership. But it may turn out that what Europe seeks is collaborative autonomy, not guidance.
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                            German Chancellor Angela Merkel and then-Vice President Joe Biden.
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                    </figure><strong>Döpfner: But do you think that we might be facing disappointment ahead because we have naive expectations for the re-establishment of the transatlantic axis?</strong>

Kissinger: At the moment, what we are seeing from the administration is more the expression of an attitude than a detailed policy. There is a general desire to be linked again, and there is an amorphous concept that if we link in dialogue, then some level of operational cohesion will emerge automatically. But the differences between Europe and America did not just appear in the Trump administration. They had been growing already in the previous period, and on both sides. 

Döpfner: In a way you could say that Obama took office at the start of America’s Pacific period?

Kissinger: Yes. In the immediate post-war period, there was a common thread, and there was also the common task of rebuilding Europe and of redefining the American attitude to its foreign policy. These were important national endeavors. But even in the Nixon period, when attempts were made to redefine formal links, it proved relatively easy to do that in the strategic field. But it proved difficult to develop an Atlantic Charter of political objectives. There was no hostility, but there was also a reluctance by Europe to define an organic relationship. Now this problem will reappear in relation to the fact that the challenges of the world have become global. There is no localized threat to European identity. So, in defining our global roles, I could foresee a possible temptation on the part of Europe to pursue a kind of separate policy from the United States.

Döpfner: What are the consequences?

Kissinger: In the short run, I can actually see many benefits for both sides. But in the long run, my fear is that an emphasis of both sides on autonomy will do two things. It will reduce Europe to an appendage of Eurasia. And through this, Europe will become preoccupied by the tensions that derive from the competition of Asian and Near Eastern countries with each other. And Europe could become exhausted by these efforts. At the same time, if that happens, America could strategically become an island at the conjunction of the Pacific and the Atlantic. It would then conduct the foreign policies typical for island countries vis-à-vis continental land masses, that is to play off the weaker against the stronger, which means there will be more focus on divisions than on the construction of the world. And even if that separation between Europe and America is very friendly, we and Europe should not exhaust our energies in a struggle about how to define common purposes. We don’t have to agree on every economic policy on every local issue, but we should have a common concept of the direction we want the Atlantic regions to go, historically and strategically. 

Döpfner: The EU has not delivered on its promises: no over proportional growth for its economies, weak in managing security challenges, disappointing in its management of the euro crisis. Most importantly, the two big international challenges of the recent past have been very poorly managed by the EU. One is the refugee crisis. And the second one is now the pandemic, particularly vaccination. Could that become an existential threat for the EU?

                      Kissinger: The EU has not yet managed to create a political identity and a political consciousness as an organic unit. The decisions are made by balancing political preferences in an essentially administrative manner on a case by case basis. So, at least from my perspective, there is no vision that can be described as a specifically or uniquely European vision.

Döpfner: What could the European vision be?

Kissinger: For hundreds of years, Europe has contributed ideas about political structure and political vision. Many of the great ideas about freedom and democracy originated in Europe. At that time on the philosophical level, Europe was largely unified. Now, it seems the EU has a greater ability to concentrate on economic and technical issues than on historic issues. But if Europe is to participate in some unified sense in international affairs, it needs to develop the capacity to generate ideas that are at the same time specifically applicable to European circumstances and also of relevance to the rest of the world. My vision and dream of the European-American relationship has always been that we will manage to establish a unique conceptual relationship within which tactical differences can exist — and should and will exist — but in which they do not become the anchor point of the policy on each side of the Atlantic.

Döpfner: Which America is Europe going to deal with? I am curious to find out how you see the conceptual changes of the current Biden administration, both with regard to domestic and foreign policy.

Kissinger: The leading groups driving foreign policy within the administration are trying to restore what they consider the traditional pattern of the European-American relationship based on frequent, even constant, consultation with some consensus emerging. They have not yet fully addressed the fact that significant internal changes have taken place in the last 20 years on both sides of the Atlantic. And that these changes emphasize national interest more than is common in American conceptual thinking about foreign policy. Thus the content of the dialogues with America has flattened out while they’re still taking place, and while the institutions remain. The previous administration accentuated differences because of its conviction that America could not be mobilized without an emphasis on national interest. The dilemma with that way of thinking is that in the present technocratic world, the national interest requires a global basis. It’s no longer possible to have a national interest that is confined to the immediate circumference of one’s own country. And that is a task in which America has to engage itself as it pursues the Biden-type policy. 

Döpfner: What are you thinking about?  

Kissinger: When I was in office, because of the Vietnam War which we inherited, the divisions were very intense and, for policymakers, occasionally painful. But in a way they were family divisions. The leaders of the liberal Democratic side were personal acquaintances with whom I had gone to Harvard and met regularly. In the present period, there is a systemic questioning of the historic values of America. There is a point of view to the effect that American society has been immoral from its very beginning. Advocates of this view maintain that the American internal challenge derives from the historic structure of American society and history. They believe America’s institutions — the Senate, the Supreme Court, perhaps even the Constitution itself — have to be remade from the ground up. This is a revolutionary frame of mind which is being pursued very systematically and very effectively. It is not a view that is held by close to 50% of the population. But it is a view that is intensely held and is perhaps dominant in the academic and media community. It is therefore becoming extremely influential.

Döpfner: Would you say there is a growing intolerance for different views in those circles?

                      Kissinger: With respect to the issues that the adherents consider most important, there is very limited tolerance. It's a revolutionary view in the sense that it aims for victory, not compromise. And those who hold different views are ejected from participation.

Döpfner: By the year 2028, the expectation is that China will replace the US as the largest economy. A couple of days before Biden took office, the EU signed an investment and trade protection deal with China. That must have been perceived in Washington as a provocation. What does that tell us about the future of the American-European relationship versus China?

Kissinger: The administration is trying hard to keep the relationship within traditionally accepted limits. But it faces the situation now where public opinion has become convinced that China is not only a rapidly growing country, which is true, but also that China is an inherent enemy, and that therefore our main task is to confront it and to reduce its capacity to be a major country. But China has been a major country for thousands of years. And in different historical epochs. And so, the recovery of China should be not surprising, and its consequences are that America, for the first time in its history, is facing a country of potentially comparable capacities in economics, and with great historic skill in conducting international affairs. This was not the case with the Soviets. They were actually weaker than the United States in military capacities, and they had no economic position in the international field at all. So, with respect to the current crisis, there is almost a certain nostalgia for the issues of the Cold War.

Döpfner: Nostalgia? 

Kissinger: Yes. The big issue to look upon is not just to prevent Chinese hegemony, but to understand that if we achieve that objective — which we must — the need to coexist with a country of that magnitude remains. Let me say a word about the assumed global domination of China. 

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                            Chinese President Xi Jinping.
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                    </figure><strong>Döpfner: Please.</strong>

                      <strong>Döpfner: A truly reliable alliance between the United States and Europe would be essential for America. Do you think a strategic disagreement with regards to China can be a real threat to the transatlantic relationship? </strong>

                      <strong>Döpfner: Now you're writing articles about it, you're an expert in it. </strong>

                      <strong>Döpfner: Europe and particularly Germany play a pretty irrelevant role in that context. A century ago, Germany wanted too much leadership, and today, it doesn't want enough leadership or doesn't take enough leadership?</strong>

                      <strong>Döpfner: You are, a German who had to leave his home country because Germans organized the Holocaust that killed millions of Jews and many members of your family. You made your career in America and became an international political figure of great influence. And throughout the decades, you have kept this very special interest in Germany and the importance of the American-German relationship. More than that, you have kept a deep emotional affection for Germany. Can you explain why and how that was possible? </strong>

Coca-Cola (KO) Surpasses Q1 Earnings & Revenue Estimates

The Coca-Cola Company KO has delivered first-quarter 2021 results, wherein earnings and sales beat the Zacks Consensus Estimate and improved year over year. Comparable earnings of 55 cents per share beat the Zacks Consensus Estimate of 50 cents and improved 8% from the year-ago period. Currency translations negatively impacted earnings by 2%. Comparable currency-neutral earnings per share rose 10%.

Revenues of $9,020 million surpassed the Zacks Consensus Estimate of $8,466 million and improved 5% year over year. Organic revenues rose 6% from the prior-year quarter. The company’s top line benefited from better price/mix and an increase in concentrate sales. Also, five additional days in the quarter aided revenue growth by 6 percentage points.

In the quarter, the company lost a global value share in total non-alcoholic ready-to-drink beverages. Coca-Cola benefited from underlying share gains in both at-home and away-from-home channels, which were largely offset by negative channel mix due to pressures in the away-from-home channel. Notably, the company has a majority share position in the away-from-home channel.

Notably, Coca-Cola’s shares gained 1.2% in the pre-market trading session, owing to the better-than-expected first-quarter 2021 performance. Overall, the Zacks Rank #3 (Hold) stock has rallied 10.2% in the past three months compared with the industry’s growth of 4.2%.

Volume and Pricing

In the quarter, concentrate sales were up 5%, while price/mix was rose 1%. However, currency headwinds hurt the company’s top line by 1%.

Price/mix benefited from pricing gains in North America and Latin America, offset by adverse channel and package mix in key markets due to the coronavirus outbreak. Concentrate sales were 5 points ahead of unit case volume, owing to five additional days in the quarter, offset by the timing of concentrate shipments.

Coca-Cola’s total unit case volume was even in the first quarter as continued strength in at-home channels was offset by pressures in the away-from-home channels due to the coronavirus outbreak. The company witnessed strength in the developing and emerging markets, driven by China and India. Yet, the developed markets, including the United States and Western Europe, remained under pressure.

Story continues

CocaCola Company The Price, Consensus and EPS Surprise

CocaCola Company The price-consensus-eps-surprise-chart | CocaCola Company The Quote

Category Cluster Performance: In the quarter, volume gains in trademark Coca-Cola, sparkling flavors, and the nutrition, juice, dairy and plant-based beverages category were offset by headwinds in the hydration category.

Sparkling soft drinks’ unit case volume improved 4% (compared with a 1% decline in the prior quarter), driven by robust gains in China, India and Latin America. This was partly negated by declines in the fountain business in North America and away-from-home channels in Europe. The Coca-Cola trademark was up 4% (compared with a 1% increase in the last reported quarter) on strong gains in the Asia Pacific and Latin America as well as Coca-Cola Zero Sugar. Notably, Coca-Cola Zero Sugar improved 8%, backed by strength across all geographic segments. Moreover, the sparkling flavors category improved 2% on growth in Trademark Sprite in the Asia Pacific.

Volume for nutrition, juice, dairy and plant-based beverages was up 3%. The category primarily gained from growth in Minute Maid Pulpy in China and Mazaa in India. In North America, strong growth in Simply and fairlife performance was more than offset by declines in Minute Maid.

Hydration, sports, coffee and tea category declined 11% in the first quarter. The company witnessed a 12% decline in hydration on broad-based declines across all geographies. Sports drinks were down 1%, owing to a fall in Europe, Middle East & Africa (“EMEA”), partly negated by strength in premium offerings and the zero/lights portfolio in North America. Tea volume dropped 6%, owing to declines in North America and the Asia Pacific. The coffee business witnessed a 21% decline on the pandemic-led impacts on Costa retail outlets.

Segmental Details

Revenues rose 3% for North America, 24% for the Asia Pacific and 14% for Bottling Investments. Meanwhile, revenues declined 2% for Latin America, 6% for EMEA and 1% for Global Ventures segments.

Organic revenues improved 8% in Latin America, 4% in North America, 18% in the Asia Pacific and 17% in Bottling Investments, offset by a 7% decline in EMEA and a 5% fall in Global Ventures.

Margins

Comparable currency-neutral operating income improved 7% year over year, driven by effective cost-management initiatives, partly offset by currency headwinds. In dollar terms, comparable operating income rose 6.1% to $2,794 million. Comparable operating margin expanded 30 basis points to 31%.

Other Developments

Concurrent to the earnings release, the company and Coca-Cola Beverages Africa (“CCBA”) announced plans to list CCBA as a publicly-traded company through an initial public offering (“IPO”). For the offering, Coca-Cola intends to sell a portion of its shareholding in CCBA. The companies expect to launch the IPO in the next 18 months. The shares will be listed in Amsterdam and Johannesburg, with Amsterdam being the primary exchange.

Following the IPO, CCBA will operate as an independent company, with operations focused in Africa and headquartered in South Africa.

Guidance

Though the uncertainties related to the coronavirus pandemic remain, the company retained its organic revenue and comparable EPS growth guidance for 2021. It estimates organic net sales growth in high-single digits for 2021. It expects a comparable EPS growth rate of high-single to low-double-digits, whereas it reported $1.95 in 2020.

Comparable net revenues are now anticipated to be aided by a 1-2% currency tailwind, based on current rates and hedge positions. The company now expects an underlying effective tax rate of 19.1% for 2021. Earlier, it anticipated 2-3% currency tailwinds on net revenues and an effective tax rate of 19.5%.

Comparable EPS is now expected to include a favorable currency impact of 2-3% compared with the previously mentioned 3-4% currency tailwinds.

Additionally, the company estimates free cash flow of at least $8.5 billion for 2021, with cash flow of at least $10 billion and capital expenditure of $1.5 billion.

Moreover, for second-quarter 2021, it anticipates comparable net revenues and comparable EPS to include currency tailwinds of 3-4% and 5-6%, respectively, based on current rates.

Don’t Miss These Better-Ranked Stocks

Alkaline Water Company Inc. WTER delivered an earnings surprise of 14.3% in the last reported quarter. It currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Compania Cervecerias Unidas, S.A. CCU presently carries a Zacks Rank #2. The company has a long-term earnings growth rate of 10.2%.

The Estee Lauder Companies Inc. EL currently carries a Zacks Rank #2. It has a long-term earnings growth rate of 10.7%.

Zacks Top 10 Stocks for 2021

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Last year’s 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

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The Estee Lauder Companies Inc. (EL) : Free Stock Analysis Report

CocaCola Company The (KO) : Free Stock Analysis Report

Compania Cervecerias Unidas, S.A. (CCU) : Free Stock Analysis Report

Alkaline Water Company Inc. (WTER) : Free Stock Analysis Report

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Spend It Better: World Bee Day is less a celebration than an appeal for help

Let’s look at the Irish farming landscape through the gaze of a bee. Glossy fields of grass might look like lush rich countryside. To our bees they’re a food desert. 

                                                    <p class="no_name">We have lost varied hay meadows, wildflowers, hedgerows which buzzed and fluttered with life. Instead we have blankets of perennial ryegrass, a native plant of southern Europe, Africa and Asia, heavily fertilised with nitrogen for beef and dairy herds. The loudest sounds on dairy prairies isn’t the buzzing of bees but the munching of animals.</p>
                                                    <p class="no_name">UN World Bee Day was May 20th. It may sound like a celebration of the French bathroom accessory but it marks the birth of the 18th century father of beekeeping Anton Jansa. There will be lots of talk of honey and waggle dances (the method of communication a bee uses to show the other bees in the hive where to find the good stuff). But 77 of the 98 Irish bee species are solitary bees. And their habitat loss has been so catastrophic that a third of all species are threatened with extinction.</p>
                                                    <p class="no_name">Paul Handrick is happy to be known as “the bee guy”. Once a sales guy he and his wife Clare-Louise Donelan had a plan 10 years ago to move to France but instead fell in love with a farm in Wicklow. It’s now the Bee Sanctuary of Ireland, “no hives, no honey”, just 31 football pitches “which we have been returning to nature”.</p>
                                                                                                                                                                                        <p class="no_name">The rewilding story is both bleak and hopeful. So much has been lost that people like Paul and Clare Louise are throwing everything they have to try to claw it back. But ecosystems regenerate quickly and powerfully. Paul has seen wildflowers like cowslips and cuckoo flower throng his chemical-free fields, and has “a pond full of frogs” in the wetland areas. Flocks of finches and long-tailed tits sing so loudly they drown out phone conversations. “We leave a strip for ourselves and the rest is for nature.”</p>

                                                    <p class="no_name">Their big idea is the National Meadowland scheme, asking businesses to pay farmers to put 2 per cent of farmland into meadow for insects from March to September. All the farmer needs is “a cheque for nature”. </p>
                                                    <h4 class="crosshead">Subscription</h4><p class="no_name">Individuals can also become a friend of the bees. There’s a €36-a-year subscription for adults or €12 for children. Sanctuary visits can be arranged once Covid restrictions lift.</p>
                                                    <p class="no_name">And in our own gardens? </p>
                                                    <p class="no_name">His advice is simple: “Don’t even look at chemicals. Sow a few organic native wildflowers, sunflowers in a pot, or cosmos.” </p>
                                                    <p class="no_name">And forget about elaborate bee hotels – a small pile of bare soil and sand or rocks on a south-facing sheltered spot is all they need.</p>
                                                    <p class="no_name">www.thebeesanctuaryofireland.com </p>

Opportunities in the Asia-Pacific Hot Drinks Sector Market Report- Size, Growth, and Per Capita Analysis

The global hot drinks sector is forecast to rise from US$218,661.2 million in 2020 to reach US$290,191.9 million by 2025, recording a CAGR of 5.82% over 2020-2025. Asia-Pacific, the largest region, with a value share of 38.1% in the global hot drinks sector in 2020, is forecast to record a CAGR of 7.46% over 2020-2025. Hot tea was the largest category in the region, accounting for 57% of the overall hot drinks sector in 2020. Sales in the category is anticipated to increase by 8% over 2020-2025 to reach US$69,801.3 million by 2025.

Request for FREE PDF Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=4430777

This report brings together multiple data sources to provide a comprehensive overview of the Asia-Pacific Hot Drinks sector. It includes market overview, high growth country analysis, top companies, key distribution channels, packaging formats and case studies.

Scope of this Report-
This report brings together multiple data sources to provide a comprehensive overview of Asia-Pacific hot drinks sector, analyzing data from 26 countries in the region. It includes analysis on the following –
– Market Environment: Includes sector size, market size, and growth analysis by category.
– High-Potential Countries’ Analysis: Indicates changing share of value consumption in the various hot drinks categories across high-potential countries in the Asia-Pacific region. It also provides Risk-Reward analysis of four countries across Asia-Pacific region based on market assessment, economic development, socio-demographic, governance indicators, and technological infrastructure.
– Country Deep Dive: Provides the overview, demographic analysis, and key trends across high-potential countries.
– Success Stories: Provides some of the most compelling hot drinks manufacturers, brands, products, and marketing campaigns in the Asia-Pacific region. It also provides a better understanding of how a certain manufacturer achieved success in the sector, and insights.
– Competitive Environment: Provides an overview of leading companies in the Asia-Pacific region, besides analyzing the growth of private label in the region.
– Distribution Analysis: Provides analysis on the leading distribution channels in the Asia-Pacific hot drinks sector in 2020. It covers hypermarkets & supermarkets, convenience stores, food & drinks specialists, eRetailers, department stores, “dollar stores”, variety stores & general, merchandise retailers, cash & carries & warehouse clubs, and others.
– Packaging Analysis*: The report provides percentage share (in 2020) and growth analysis (during 2015-2025) for various pack materials, pack types, closure, and primary outer types based on the volume sales (by pack units) of hot drinks products
– Challenges and Future Outlook: Provides the challenges and future outlook pertaining to Asia-Pacific hot drinks sector.

Reasons to Buy this Report-
– Manufacturing and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the sector in the region.
– The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis , that can help companies gain insight into the country specific nuances
– The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion
– To gain competitive intelligence about leading companies in the sector in the region with information about their market share and growth rates

Single User License: US $ 2100

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Table of Contents
Regional Comparison: Market Size, Growth, and Per Capita Analysis, 2020-2025
Executive Summary
Part 1: Market Environment
Market Size Analysis – Asia-Pacific Compared to Other Regions
Value and Volume Growth Analysis by Region
Asia-Pacific Market Growth Analysis by Country
Asia-Pacific Market Growth Analysis by Category
Part 2: High-Potential Countries’ Analysis
Methodology – Identifying High-Potential Countries
Top Four High-Potential Countries in the Asia-Pacific
Overview of High-Potential Countries in the Asia-Pacific
Growth Contribution Analysis by Country (1/2)
Growth Contribution Analysis by Country (2/2)
Value share analysis of hot drinks compared to other coffee & tea sectors
Change in consumption levels by country and category
Per Capita Consumption Analysis
Per Capita Expenditure Analysis
Part 3: Country Deep Dive
Overview of the Japanese Hot Drinks Sector
Key Trends in the Japanese Hot Drinks Sector
Overview of the Australian Hot Drinks Sector
Key Trends in the Australian Hot Drinks Sector
Overview of the Vietnamese Hot Drinks Sector
Key Trends in the Vietnamese Hot Drinks Sector
Overview of the Chinese Hot Drinks Sector
Key Trends in the Chinese Hot Drinks Sector
Overview of High-Potential Countries in the Eastern Europe
Value share analysis of hot drinks compared to other coffee & tea sectors
Change in consumption levels by country and category
Top Five Companies Share by Brand (in Value Terms) in the Asia-Pacific Hot Drinks Sector, 2020
Private Label Penetration (in Value Terms) in Hot Drinks Sector, 2020
Leading Distribution Channels in the Asia-Pacific by Country, 2020
Leading Distribution Channels in the Asia-Pacific by Category, 2020
Part 4: Success Stories
About Case Studies
Case Study: Zoom Zuco Coffee Roasters, Hong Kong SAR
Case Study: Rujani Tea – Tippy Reserve
Case Study: Bodhi Organic Tea – SereniTEA
Part 5: Competitive Environment
Leading Companies Share in the Asia-Pacific Hot Drinks Sector
Brand Share Analysis of Top Five Companies
Leading Companies in the Asia-Pacific Hot Drinks Sector
Leading Brands in the Asia-Pacific Hot Drinks Sector
Private Label Penetration in the Asia-Pacific Hot Drinks Sector
Part 6: Distribution Analysis
Leading Distribution Channels by Country
Leading Distribution Channels by Category
Part 7: Packaging Analysis
Growth Analysis by Key Pack Material and Pack Type
Growth Analysis by Closure Type and Primary Outer Type
Part 8: Challenges and Future Outlook
Key Challenges in the Asia-Pacific Hot Drinks Sector
Future Outlook of the Asia-Pacific Hot Drinks Sector
Appendix
Definitions

Apeel Acquires Imaging Technology To Unlock The Insights In Every Bite Of Fruit

Apeel announced its acquisition of ImpactVision for an undisclosed amount. ImpactVision’s hyperspectral imaging technology is soon to be integrated into Apeel application systems at supplier locations around the world — adding a new layer of insights to help fresh food suppliers and retailers further reduce food waste. Apeel’s new imaging technology enables suppliers to see inside and understand the interior quality of fresh produce by collecting quantifiable data on stage of ripeness, freshness, nutritional density, and other indicators of quality. This marks Apeel’s first acquisition and a major step toward quantifying and digitizing produce quality data, with the goal of democratizing this new information for the benefit of Apeel’s partners and the global food system as a whole.

“Our journey began with Apeel’s plant-based protection – an invisible ‘peel’ that addresses the challenge of global food waste by bringing more time to fresh produce before it spoils. Now, we’re expanding our technology to bring to light the previously invisible characteristics of produce, including internal quality, phytonutrient content, and environmental impact,” said James Rogers, CEO of Apeel. “Using the insights enabled by Apeel’s imaging technology, our partners will effectively be able to ‘see’ inside of every fruit and vegetable, quantifying quality as never before, so that the distribution of fresh food can be optimized. For our partners, this will mean less waste and an immediate bottom-line improvement, and ultimately, the ability to one day differentiate produce by making freshness and nutritional content ‘visible’ to the consumer.”

Apeel’s plant-based protection that doubles the shelf life of produce is currently applied to fruits and vegetables via application systems throughout packing houses and distribution centers across North America, South America and Europe. Apeel’s new imaging technology will be added to these systems to collect data-rich images as produce travels along packing house conveyance lines. Acquired images will then be processed through machine learning models that can identify unique visual cues that relate to freshness, degree of maturity, phytonutrient content, and other aspects of fruit quality.

“ImpactVision’s technology can predict internal quality of food products from hyperspectral images. When this ability to ‘see beyond the borders of human vision’ is combined with Apeel’s shelf-life extension technology, the potential to fundamentally transform produce supply chains to reduce post-harvest loss, optimize distribution and lengthen shelf-life is enormous,” said Abi Ramanan, Founder of ImpactVision.

With Apeel’s continued expansion into new produce categories and geographies, the company is poised to capture category-wide datasets across a previously fractured and data-poor landscape, which in turn will help shape new efficiencies and benefits that span across global fresh fruit and vegetable supply chains. Given that 40% of the food grown globally goes to waste, this more robust and holistic understanding of produce quality will allow fresh food suppliers to optimize distribution, thereby reducing food waste, and maximizing the quality that reaches consumers.

For example, suppliers can now know the exact ripening window for each piece of fruit to then sort and ship to geographical locations that will ensure retailers are getting the highest quality produce.

Today, Apeel has 30 supplier integrations on three continents with plans to double that number by the end of 2021. With its imaging technology and positioning in the fresh food supply chain, Apeel is on a path to developing the largest and most comprehensive database of objective fresh produce insights for the global food industry.

About Apeel

Apeel is on a mission to create a more sustainable global food system by using the power of nature to enable longer-lasting produce that fights food waste from farm to kitchen. Apeel produce lasts 2x longer thanks to its plant-based protection made from materials found in the skins, peels and seeds of all fruits and vegetables. Apeel’s protective extra “peel” slows the water loss and oxidation that cause produce to go bad, and is the only proven end-to-end solution for maintaining freshness. Available for organic and conventionally grown produce, Apeel is expanding into an ever-growing number of categories and markets. Good for consumers and the planet, Apeel reduces environmental impacts and gives everyone throughout the supply chain—from growers to retailers to consumers—more time to enjoy fresh produce. Farmers can sell more of what they grow and people can consume more of what they buy, creating a healthier planet and greater abundance for all. Apeel is Food Gone Good.

Apeel is a trademark/registered trademark of Apeel Technology, Inc. in the United States, the European Union, and other jurisdictions.

For More Information:
https://www.apeel.com/

Bumble Inc. (BMBL) Q1 2021 Earnings Call Transcript

                                        This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

Inflation Worries May Lead To Continued Weakness On Wall Street

The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to extend the downward move seen over the two previous sessions.

Concerns about the accelerating pace of inflation may continue to weigh on Wall Street following the release of the Labor Department’s report on consumer prices in the month of April.

The Labor Department said its consumer price index climbed by 0.8 percent in April after rising by 0.6 percent in March. Economists had expected consumer prices to inch up by 0.2 percent.

Excluding food and energy prices, core consumer prices also advanced by 0.9 percent in April following a 0.3 percent uptick in March. Core prices were expected to rise by another 0.3 percent.

With the much bigger than expected monthly increase, consumer prices in April were up by 4.2 percent compared to the same month a year ago, reflecting the biggest jump since September of 2008.

Core consumer prices also surged up by 3.0 percent year-over-year, marking the biggest annual increase since January of 1996.

The significantly faster price growth is likely to raise concerns about the outlook for monetary policy even though the Federal Reserve has repeatedly downplayed the risks of inflation.

The Fed has indicated that it won’t begin tightening monetary policy until inflation is moderately above its 2 percent target for “some time.”

Stocks moved mostly lower during trading on Tuesday, extending the pullback seen over the course of Monday’s session. The Nasdaq hit its worst intraday level in well over a month in early trading but rebounded to end the day only modestly lower.

After plunging as much as 2.2 percent, the tech-heavy Nasdaq closed down just 12.43 points or 0.1 percent at 13,389.43. Meanwhile, the Dow tumbled 473.66 points or 1.4 percent to 34,269.16 and the S&P 500 slid 36.33 points or 0.9 percent to 4,152.10.

The weakness on Wall Street partly reflected concerns about an acceleration in the rate of inflation and potential monetary policy tightening by the Federal Reserve.

The Fed has attributed the increase in inflation to “transitory factors,” although analysts have suggested the central bank will still begin considering tapering its asset purchases in the coming months.

Adding to the inflation concerns, the Labor Department released a report showing the number of job openings reached a series high of 8.1 million on the last business day of March.

The data led to worries that employers will have to raise wages to entice workers, which could carry over into higher inflation.

The inflation concerns contributed to an early sell-off by tech stocks, although selling pressure waned over the course of the session.

Tech giant Apple (AAPL) tumbled as much as 3.2 percent in early trading to hit its lowest intraday level in over a month before regaining ground and ending the day down by 0.7 percent.

Shares of Tesla (TSLA) slumped by 1.9 percent after a report from Reuters said the electric car maker has halted plans to buy land to expand its Shanghai plant and make it a global export hub.

Housing stocks turned in some of the worst performances on the day, with the Philadelphia Housing Sector Index plunging by 3.2 percent after ending the previous session at its best closing level since a two-for-one split in early 2006.

Substantial weakness was also visible among oil stocks, as reflected by the 2.4 percent slump by the NYSE Arca Oil Index. The index extended the pullback seen after it reached a one-year intraday high in early trading on Monday.

The weakness among oil stocks came even though the price of crude oil turned higher over the course of the session after an early drop.

Computer hardware stocks also showed a significant move to the downside, dragging the NYSE Arca Computer Hardware Index down by 2.4 percent to its lowest closing level in over a month.

Transportation, banking and commercial real estate stocks also saw notable weakness, while steel and gold stocks bucked the downtrend.

Commodity, Currency Markets

Crude oil futures are climbing $0.67 to $65.95 a barrel after rising $0.36 to $65.28 a barrel on Tuesday. Meanwhile, an ounce of gold is trading at $1,828.50, down $7.60 compared to the previous session’s close of $1,836.10. On Tuesday, gold edged down $1.50.

On the currency front, the U.S. dollar is trading at 109.11 yen compared to the 108.62 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.2109 compared to yesterday’s $1.2148.

Asia

An extended sell-off amid rising inflation expectations and valuation concerns saw Asian stocks hitting their lowest in seven weeks on Wednesday. A cautious undertone prevailed as investors awaited U.S. consumer inflation data due out later in the day for direction.

Chinese shares rose as the U.S. agreed to remove Xiaomi from a blacklist that would have barred Americans from investing in the Chinese smartphone maker.

The benchmark Shanghai Composite Index climbed 20.91 points, or 0.6 percent, to 3,462.75, while Hong Kong’s Hang Seng Index advanced 217.23 points, or 0.8 percent, to 28,231.04.

Japanese stocks fell sharply to extend losses from the previous session as investors fretted over the accelerating daily coronavirus infection rates caused by highly contagious variants of the virus. According to the Health Ministry, the number of COVID-19 patients with severe symptoms in Japan rose to a record 1,176.

The Nikkei 225 Index tumbled 461.08 points, or 1.6 percent, to 28,147.51, while the broader Topix ended 1.5 percent lower at 1,877.95.

Market heavyweight SoftBank Group plunged 3.5 percent, while automaker Toyota Motor climbed 2.2 percent after more than doubling its fourth quarter net profit.

Nissan Motor plummeted more than 10 percent. The company said it expects to break even this business year, defying expectations for a return to profitability.

Australian markets fell for a second straight day despite the government unveiling a big spending budget to spur the country’s rebounding economy.

The benchmark S&P/ASX 200 Index dropped 52.10 points, or 0.7 percent, to 7,044.90, while the broader All Ordinaries Index ended down 50.50 points, or 0.7 percent, at 7,281.10.

Commonwealth Bank rose over 1 percent after the lender reported third quarter cash profits that doubled from last year to A$2.4 billion. The other three big banks ended down between 0.6 percent and 1.2 percent.

Mining heavyweights BHP and Rio Tinto posted modest losses, while smaller rival Fortescue Metals Group advanced 1.4 percent. Tech shares saw modest gains, with Xero rising 2.3 percent.

Trading in shares of Carsales.Com was halted after the vehicle classifieds site confirmed it is raising $600 million to fund the purchase of a 49 percent stake in U.S. branded marketplace platform Trader Interactive.

CSR surged 4.2 percent after the building materials firm reinstated a final dividend of 14.5 cents and said it will also pay a special 9.5-cent dividend.

In economic news, the total number of building permits issued in Australia was up a seasonally adjusted 17.4 percent sequentially in March, official data showed. That matched expectations following the 20.1 percent jump in February.

Seoul stocks tumbled as foreign investors dumped local shares on growing worries over inflation and possibly earlier rate hikes. The benchmark Kospi slumped 47.77 points, or 1.5 percent, to 3,161.66.

Chemical maker LG Chem led losses to end 5.3 percent lower and pharmaceutical firm Celltrion gave up 3 percent, while market heavyweight Samsung Electronics declined 1.5 percent and No. 2 chipmaker SK Hynix lost 2.9 percent.

Investors ignored data showing that unemployment in South Korea dropped to an eight-month low in April. The number of people employed also rose at the fastest pace in nearly seven years, suggesting that the economy is well on the road to recovery.

Europe

European stocks are mostly higher on Wednesday, with encouraging earnings and hopes for a strong economic recovery offering some support.

While the French CAC 40 Index is just above the unchanged line, the German DAX Index is up by 0.4 percent and the U.K.’s FTSE 100 Index is up by 0.7 percent.

U.K. gross domestic product shrank 1.5 percent sequentially in the first quarter, reversing a 1.3 percent rise in the fourth quarter, the Office for National Statistics reported. Economists had forecast a sequential drop of 1.6 percent.

GDP grew 2.1 percent month-on-month in March as schools and some part of the economy reopened through the month.

Spirits maker Diageo has moved sharply higher. The company restarted its capital return program and said that it expects to report organic operating growth of at least 14 percent in fiscal 2021.

UDG Healthcare shares have also soared. The pharmaceuticals services company has agreed to a 2.61 billion-pound ($3.69 billion) takeover by Clayton, Dubilier & Rice.

EDF Group shares have also advanced. The French power group confirmed its full-year guidance after sales rose in the first quarter.

German lender Commerzbank has also surged higher after it swung to a first quarter profit, beating expectations.

SGL Carbon has also rallied. The carbon and graphite product manufacturing company confirmed guidance for the full year 2021, with sales revenue to be EUR 920 million to EUR 970 million.

Deutsche Telekom has also risen. The telecommunications company raised its profit guidance for 2021 after a strong showing by its businesses in the United States and Europe in the first quarter.

Bayer has also jumped. The pharmaceutical and chemical conglomerate backed its outlook for the year after reporting an increase in quarterly net profit.

Meanwhile, Just Eat Takeaway.com NV has tumbled after rival food delivery firm Delivery Hero SE announced plans to re-enter its home market of Germany next month.

U.S. Economic Reports

Partly reflecting a spike in prices for used cars and trucks, the Labor Department released a report on Wednesday showing U.S. consumer prices increased by much more than expected in the month of April.

The Labor Department said its consumer price index climbed by 0.8 percent in April after rising by 0.6 percent in March. Economists had expected consumer prices to inch up by 0.2 percent.

Excluding food and energy prices, core consumer prices also advanced by 0.9 percent in April following a 0.3 percent uptick in March. Core prices were expected to rise by another 0.3 percent.

At 9 am ET, Federal Reserve Vice Chair Richard Clarida is due to discuss the U.S. economic outlook and monetary policy before a virtual National Association for Business Economics global symposium.

The Energy Information Administration is scheduled to release its report on oil inventories in the week ended May 7th at 10:30 am ET.

Crude oil inventories are expected decrease by 2.3 million barrels after slumping by 8.0 million barrels in the previous week.

At 1 pm ET, the Treasury Department is due to announce the results of this month’s auction of $41 billion worth of ten-year notes.

Atlanta Federal Reserve Bank Raphael Bostic is also scheduled to speak on the economic outlook and monetary policy in a virtual moderated conversation hosted by the Council on Foreign Relations at 1 pm ET.

At 1:30 pm ET, Philadelphia Federal Reserve President Patrick Harker is due to speak before a virtual Institutions of Higher Education: Financial Viability and COVID-19 event.

Stocks In Focus

Shares of FuboTV (FUBO) are soaring in pre-market trading after the sports TV streaming platform reported record first quarter revenues and raised its full-year guidance.

Fast food chain Wendy’s (WEN) is also likely to see initial strength after reporting better than expected first quarter results and boosting its full-year earnings forecast.

On the other hand, shares of Lemonade (LMND) are seeing notable pre-market weakness after the online insurance company reported a wider than expected first quarter loss and provided disappointing revenue guidance for the current quarter.

Battery technology company QuantumScape (QS) may also move to the downside after reporting a wider than expected first quarter loss.

For comments and feedback contact: editorial@rttnews.com

European Shares Rise After Earnings Beat

European stocks were mostly higher on Wednesday, with encouraging earnings and hopes for a strong economic recovery offering some support.

Caution prevailed as investors awaited U.S. inflation data due later in the day for clues on monetary policy going forward.

The pan European Stoxx 600 inched up 0.3 percent to 437.89 after tumbling 2 percent on Tuesday.

The German DAX edged up 0.1 percent and France’s CAC 40 index was marginally higher while the U.K.’s FTSE 100 was up 0.7 percent after the release of GDP figures.

U.K. gross domestic product shrank 1.5 percent sequentially in the first quarter, reversing a 1.3 percent rise in the fourth quarter, the Office for National Statistics reported. Economists had forecast a sequential drop of 1.6 percent.

GDP grew 2.1 percent month-on-month in March as schools and some part of the economy reopened through the month.

Spirits maker Diageo rallied 3 percent. The company restarted its capital return program and said that it expects to report organic operating growth of at least 14 percent in fiscal 2021.

UDG Healthcare shares soared 21 percent. The pharmaceuticals services company has agreed to a 2.61 billion-pound ($3.69 billion) takeover by Clayton, Dubilier & Rice.

Just Eat Takeaway.com NV tumbled 3.7 percent after rival food delivery firm Delivery Hero SE announced plans to re-enter its home market of Germany next month.

EDF Group shares climbed 2.6 percent. The French power group confirmed its full-year guidance after sales rose in the first quarter.

German lender Commerzbank surged 6.3 percent after it swung to a first quarter profit, beating expectations.

SGL Carbon rallied 3.2 percent. The carbon and graphite product manufacturing company confirmed guidance for the full year 2021, with sales revenue to be EUR 920 million to EUR 970 million.

Utility RWE advanced 1.5 percent after backing its 2021 view.

Deutsche Telekom rose about 2 percent. The telecommunications company raised its profit guidance for 2021 after a strong showing by its businesses in the United States and Europe in the first quarter.

Bayer jumped 4 percent. The pharmaceutical and chemical conglomerate backed its outlook for the year after reporting a rise in quarterly net profit.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

CUSTOMS CRISIS Irish food brands forced to stop trading with UK due to new Brexit border regulations

MULTIPLE Irish food brands are being forced to take drastic measures to protect their business from the negative impact of new customs rules now in place due to Brexit.

On January 1, 2021 Britain’s Brexit transition period ended.

The nation’s formal exit of the EU’s single market saw a new customs regime brought into effect.

It requires businesses importing and exporting between Britain and the EU to complete extra paperwork, cover extra costs, make previously unnecessary declarations and, at times, suffer business-breaking delays when their products are held at the border.

For Irish food and drink brands, many who have worked closely with British suppliers and buyers for decades, the new rules have caused confusion and uncertainty at the very least.

In the worst cases the new customs framework has forced them to break their ties with their British partners entirely, opting to find alternative options who are based within the EU.

In a special Irish Post report, we spoke to three Irish businesses in the food and drinks sector, about their experience of the new Brexit-imposed customs regulations.

For Patricia Farrell, who runs Wilde Irish Chocolates from her artisan chocolate factory in east Clare, the new rules have had a significant impact on the business.

“We have been affected adversely by Brexit, especially in our supply chain, as we have found it challenging to acquire products from our usual suppliers in the UK because of customs issues,” she told The Irish Post.

“We consequently have worked hard to supplant these suppliers with those from EU countries.”

For Colm Healy, owner at Skelligs Chocolate in Kerry, it has been a similar experience.

“Brexit caused confusion and uncertainty on one hand, and extra paperwork, delays and costs on the other,” he told The Irish Post.

“We have taken the decision now not to ship to the UK…and we are trying to source ingredients from EU countries only.”

Joe Murphy is Managing Director at All Ireland Foods, a Wexford based firm which exports Irish food brands across the world.

The company was forced to suspend all chilled food deliveries to the UK for a number of weeks following the rule changes that came into effect on January 1.

“It was taking two weeks for parcels to get through customs and by that time the food had spoiled,” he told The Irish Post.

Read their accounts in full below…

WILDE IRISH CHOCOLATES

Patricia Farrell, owner of Wilde Irish Chocolate, is an artisan chocolate producer whose factory is based in Tuamgraney, east Clare on the shores of Lough Derg.

They also have a store in Doolin, Co. Clare and at the Limerick Milk Market.

The firm, which is made up of a small, dedicated team, who handmake over eighty different types of chocolate, eighteen varieties of fudge and many other delicious chocolaty treats, was founded in 1997.

Having established itself as a leading chocolate producer in Ireland, it has also become a favourite for sweet-toothed customers in Britain, with their goods regularly being sent over by Irish fans as gifts for loved ones away from home.

Sadly, since the onset of Brexit, the firm is no longer trading with the UK.

“Have we been impacted by Brexit? – the only answer is yes,” she told The Irish Post.

“We have been affected adversely by Brexit, especially in our supply chain, as we have found it challenging to acquire products from our usual suppliers in the UK because of customs issues,” she added.

“We consequently have worked hard to supplant these suppliers with those from EU countries, The main result being that we have spent far less money on UK suppliers,” the businesswoman admits.

“We also have reluctantly taken delivery to UK addresses off our website as the additional customs and other charges levied on the recipients makes it excessively expensive to receive even the most inexpensive chocolate gifts from friends in Ireland.”

ALL IRELAND FOODS

Joe Murphy is the Managing Director Joe Murphy is Managing Director at All Ireland Foods, a Wexford based firm which exports Irish food brands across the world.

After initially being forced to suspend all chilled food exports to Britain, due to customs hold ups ruining the produce, the heartache being faced by British exporters at the border has gone on to provide something of a win for the business.

“Believe it or not, Brexit has benefited a lot of Irish food businesses and as an Irish hero Daniel O’Connell once said, England’s difficulty is Ireland’s opportunity,” Mr Murphy told The Irish Post.

“We have seen a 20 per cent increase in organic sales due to Brexit because British expats living across the EU cannot get their food sent over from the UK anymore, because of the tariffs, delays in delivery and some food products like fresh meat the EU won’t allow in.”

He explained: “My target market is Irish expats living abroad wanting Irish food and our business model is, if it’s not grown, raised or manufactured on the island of Ireland we won’t sell it on our site.

“We now have British expats contacting us and placing orders because they can’t get the cuts of meat they want, like ham, sausages, rashers and pudding etc.

“We offer next day delivery of chilled food across mainland Europe and the feedback we get of the quality we send out is phenomenal.”

It hasn’t all been positive for the firm, however.

“The issue we had was that we had to suspend all chilled food deliveries to the UK because it was taking two weeks for parcels to get through customs and by that time the food had spoiled,” Mr Murphy reveals.

“In the last week, we have started to send chilled food to the UK because the UK ports are starting to resume to pre-Brexit service,” he adds.

For Mr Murphy, if your business is in a position to fill the gaps in the market caused by Brexit there is money to be made.

“There are hundreds if not thousands of British food shops across Europe serving British expats and these shops were supplied by Marks & Spencer and CO-OP,” he explains.

“Now these shops’ shelves are empty and these big British multiples cannot send stock to them and guess who is now supplying these British shops?

“Yes you guessed it, Irish wholesalers.

“From speaking to Musgraves and Stonehouse, these guys are sending containers full of Irish food to fill British shelves.”

SKELLIGS CHOCOLATE

Colm Healy is the owner of Skelligs Chocolate.

Located on The Skelligs Ring, just off the main Ring of Kerry road, and nestled along the Wild Atlantic Way, the firm boasts Ireland’s only fully ‘open plan’ chocolate production kitchen, where you can get up close and see their products being made in front of you.

Those products have always featured some raw materials imported from Britain by the family-run business.

Now, with Brexit customs checks proving too much hassle for a relatively small business, they are opting to find their ingredients from EU countries only.

“To be honest the impact of Brexit is very straight forward as to the hassles it’s causing us and many small businesses both in Ireland and the UK,” Mr Healy told The Irish Post.

“It’s confusion and uncertainty on one hand, and extra paperwork, delays and costs on the other.”
He explained: “Customers are not sure if when they order from us that it will come promptly and if there could be extra charges due, depending on what they order and how much the order value is.

“Then when we are trying to buy raw materials there are supply chain delays and added costs due to paperwork or in extreme circumstances the ingredients might not be able to be exported to the EU any more.”

He added: “It’s not a huge disruption now as we have taken the decision now not to ship to the UK, excluding Northern Ireland, and we are trying to source ingredients from EU countries only.

“But it is still inconvenient.”