Welcome back Food Junglers. Apologies for the delayed release of this week’s newsletter; I was struggling to solve a statistics assignment for university. But in spite of my ineptitude for statistics, a lot has been going on in the world of food, from food industry consolidation to farm strikes. Let’s dig in.

This week:

🗣️ Food and agriculture lobbyists swarm COP29 in Baku.

🇫🇷 French farmers strike against a new trade deal.

🤑 Blackstone reaches an agreement to buy a sandwich chain.

🪖A UN aid convoy was looted on its way to Gaza.

☕️ The world’s most expensive coffee can be found in Scotland…

CLIMATE
FOOD HAS ITS COP DAY

Agriculture and food have their day at COP29, the global climate conference taking place in Azerbaijan, as 204 agriculture delegates from the largest food companies in the world descend on Baku.

Nearly 40% of food lobbyists that travelled to the summit wore country badges, giving them privileged access to diplomatic negotiations, up from 30% at COP28 and just 5% at COP27.

Studies point to the need for a drastic drop in meat and dairy production and a shift to climate-friendly farming. To circumvent this, the agribusiness industry has lobbied hard against tougher environmental laws in the EU, the US, and at climate summits.

ZOOMING OUT: Whether PepsiCo or JBS SA, the presence of these lobbyists raises serious concerns about whether COP will prioritise real solutions to address the root causes of climate change.

Unfortunately, though, the increasing number of food lobbyists with intimate access to the negotiating table at such conferences makes it unlikely.

POLICY
FRENCH FARMERS PROTEST

French farmers escalated protests against the European Union-Mercosur trade agreement under negotiation, citing fears of unfair competition with South American farmers.

On one hand, some argue that the deal would threaten their livelihoods by allowing a surge of South American agricultural imports under less stringent environmental standards. On the other, policymakers argue that it would significantly boost economic ties between Europe and South America by eliminating tariffs on European exports.

Either way, farmers weren’t happy. Protesters burned vine stems in Bordeaux and blocked the “Europe Bridge” in Strasbourg. Over 85 demonstrations were reported nationwide.

ZOOMING OUT: French Minister Annie Genevard publicly opposed the EU-Mercosur trade agreement, citing risks of deforestation and health concerns linked to hormone-treated meat in South America.

Under the weight of climate change and war in Ukraine, French farmers don’t see yet another form of competition as particularly helpful.

BUSINESS
PRIVATE EQUITY STEPS IN

Private-equity giant – Blackstone – has struck a deal to take a majority stake in Jersey Mike’s Subs, the second largest sub-style sandwich company in the US by sales.

The deal would value the chain at around $8 billion, including debt. Today, Jersey Mike’s counts more than 3,000 locations, with the business potentially expanding to 4,000 locations with $6.5 billion in sales by 2027.

This isn’t new for Blackstone, as the company has often invested in franchise businesses that don’t require much capital investment.

ZOOMING OUT: This deal shows just how much consolidation the restaurant industry has gone through recently. From Subway to be sold to Roark Capital for $9.6 billion to Burger King owner – Restaurant Brands International – acquiring its biggest Burger King franchisee in the US, the big players seem to be centralising ownership in a worrying trend.

SUPPLY CHAIN
GAZA CONVOY RANSACKED

A large convoy of trucks carrying aid to the Gaza Strip was “violently looted” over the weekend and its drivers were forced at gunpoint to unload supplies, according to the UN.

The convoy of 109 trucks had been driving from the Kerem Shalom border crossing in southern Gaza when it was looted. Only 11 trucks made it to their destination.

The Israeli military did not immediately respond to a request for comment on the episode. It was not clear who was responsible for the looting. In the past, Israel has accused Hamas militants of robbing aid convoys to supply their own forces. Hamas also did not respond to a request for comment.

ZOOMING OUT: The incident highlighted the difficulties aid workers face bringing aid into Gaza, despite months of attempts to help it arrive safely. Earlier this month, a U.N.-backed panel said that all of Gaza faced a risk of famine between now and April, with the north at particular risk.

THE BRIGHT SIDE
THE MOST EXPENSIVE COFFEE EVER

When I first read the headline, I almost didn’t believe it: a farmer in Scotland is selling a cup of coffee for £272 sterling! But behind the price there’s a secret. Through the purchase of this one cup of coffee at a ridiculous price, you can actually get a share of the dairy farm.

Bryce Cunningham, the innovator behind the initiative and the owner of Mossgiel Organic Dairy farm, is using this financial perk as part of a campaign to enlarge the farm’s sustainable operations and produce more milk.

In what is, essentially, a nifty crowdfunding campaign Cunningham asks “How much is the future of farming worth”? When broken down, he says it’s a pretty good deal.

He’s already raised more than a third of the £300,000 he is seeking from small investors. The next goal would be to secure a £900,000 loan that should help Cunningham double operations and expand out of Scotland. Food Jungle approved ✅ 

BEFORE YOU GO…

• Unilever reduces job cuts and focuses on India expansion.

• Nestlé to cut costs by $2.8 billion and boost marketing department.

• Lidl GB has announced it will exceed its five-year investment target in British food and farming by 40%.

• A new report finds that Americans are eating less fish.

• The American farming industry is preparing for mass deportations under another Trump administration.

• A new McDonald’s menu lineup, called McValue, will include an offer to buy one item and get one for $1.

TAKE A BREAK

If you’re interested in some quality ORIGINAL journalism on what’s been going on in the food industry, look no further than Green Queen.

Founded in 2011, by Sonalie Figueiras, the team looks to analyse and discuss the latest news in food, from cultivated meat to food waste. Thoroughly recommend! 🤩