The Thought Leadership | Issue 6 | The State of the Agrifood Sector in 2023
In this issue of our Thought Leadership publication, Christian Bang Søndergaard shares his insights into the current state of the Agrifood sector as we leave 2022.
At the start of 2023, the global food industry faces a number of challenges. For a few years, the industry has been characterized by unstable commodity markets, where the price arrow has mostly pointed upwards. This has naturally pressured earnings, as strong mass retailers do not accept all increases in production costs being added to the price. In the cases where a price increase is accepted, it is typically with a delay, whereas commodity prices tend to take effect immediately.
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"The global food industry is expected to face new challenges and opportunities in 2023, driven by changing consumer preferences, technology, and sustainability."