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Food prices are rising everywhere as inflation rears its ugly head.
Supply chain issues stemming from the ongoing effects of the COVID-19 pandemic, higher labor costs and rising fuel prices have all been compounded by the continuing conflict in Ukraine to cause seemingly runaway inflation. Some estimates put recent food price hikes in the double digits for staples such as flour and butter and fresh fruit, while meat and fish prices are estimated to have gone up by 13% in the same time period.
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One Israeli company believes it can help mitigate the effects of inflationary pressure by making the food you buy have a longer shelf life and saving already produced food.
Save Foods Inc. (NASDAQ:SVFD) states that it works with growers, packers, food retailers and service providers to develop environmentally friendly product solutions and treatments to help extend shelf life and reduce or even eliminate hazardous chemicals used in fruit and vegetable preservation.
For example, in a recent trial aimed at increasing the shelf life of strawberries, Save Foods reported that fruit treated with its products lasted significantly longer than untreated berries, the industry standard. At the end of a two-week period — the typical length of time strawberries can be refrigerated before rotting — Save Foods-treated fruit totaled only 14% waste compared with the industry standard of 81% in untreated fruit.
“Save Foods is committed to prolonging the freshness and shelf life of fresh produce, resulting in less waste and higher profits along the supply chain," R&D Innovation Manager Uri Bach said at the time of the trial in March.
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Long-Term Solutions Needed, Too?
In addition to the short-term challenge posed by inflationary pressures on providing safe, longer-lasting food, there is a longer-term problem of providing safe food to a rising global population.
With the world population expected to grow to approximately 10 billion by 2050, agricultural demand could increase by 50%, Save Foods says. That may mean greater pressure on providing safer food where 664 million tons of fruits and vegetables are already lost in the field-to-fork supply chain, the company estimates.
Ensuring longer shelf life for produce using Save Foods treatments to mitigate the effects of microbial spoilage and foodborne pathogens can help ensure a greater supply of safe food for a growing population, Save Foods says.
Save Foods-treated products are increasingly available in supermarket chains both in Europe and the United States. Some of the biggest supermarket chains in the U.S. include Costco (NASDAQ:COST) and Walmart Inc. (NYSE:WMT).
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.
Picture credit: Elaine Casap on Unsplash
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.