Food

Alert! Consumers Feeling the Pinch as Food Prices Rising Drastically

Published

3 years ago

January 24, 2022

Bchcomber

Consumers Feeling the Pinch as Food Prices Rise Drastically, food fresh

Increasing prices for food and basic necessities is causing many people in Thailand to complain about the high cost of living. The prices of some items are rising dramatically, and consumers are feeling the pinch.

In an effort to reduce the rising cost of living, the cabinet recently approved an allocation of 1.48 billion baht from the central budget for relief measures.

According to the Commerce Ministry, the money will be spent on the Thong Fah (Blue Flag) scheme, which distributes low-priced essential goods through 3,000 distribution outlets nationwide.

As part of an investigation into the discount scheme, the Bangkok Post interviewed economists, academics, and ordinary Thais to see if it would be a successful solution for the country’s current economic crisis.

A financial analyst, Somjai Phagaphasvivat, said the discount scheme was needed in order to fight the squeeze on people’s finances.

As well as offering essential goods at lower prices, the government can use its fund in a variety of ways to tame price increases, he added.

In his explanation of the increasing prices of food and goods, Mr Somjai cited three factors: soaring pork prices caused by a supply shortage, which resulted in egg and chicken food prices rising; the high cost of animal feeds and fuel; and the politicization of price hikes.

He also noted that food price-gouging by intermediaries, which took advantage of rising prices, should not have been allowed to happen. As a result, consumers are bearing the brunt of the increases, which has now become a political issue.

Controlling prices and foul play

While it will take time for the nation’s pork supply to increase, pork prices will start dropping once consumers turn to other sources of protein, he said.

According to the expert, the 1.48-billion-baht fund is nothing more than a temporary measure to contain the situation and ease the pressure on the people. As a result, he said, authorities must monitor food production costs to guard against foul play and ensure any price increases are justified.

The government will have a tough time controlling the price of oil and gas, as prices have been increasing worldwide, he said. Another option would be to use the state oil fund to subsidise retail fuel and gas prices.

At the University of the Thai Chamber of Commerce, Thanawat Polvichai, Chief adviser for the Center for Economic and Business Forecasting, says a decrease in the cost of living is essential for government survival.

It is expected that the Commerce Ministry will intervene and take other measures such as shoring up the food supply and keeping stock in check.

He said compared to subsidizing oil prices for three months under a budget of almost 10 billion baht, this amount is a reasonable sum to ease people’s burdens. The next question is whether the money is spent efficiently.

When asked if the rising cost of living justified an executive order, he said the cabinet must act swiftly, adding an executive order is a valid legal channel that the government can use.

Consumer pricing surging due to the pandemic

Thailand Development Research Institute (TDRI) senior research fellow Nonarit Bisonyabut said food prices have been surging due to global inflation from the covid-19 pandemic.

Increasing prices are a sign of a far more serious underlying issue that will require more than just discounts to solve.

Despite its merits, he said, the program must be limited so that it doesn’t negatively affect the market and production.

According to him, inflation is not considered a serious threat to the overall economy, as it moves between 1-3%. It is also acceptable for the export sector, he added.

He said, however, that the current situation will not be survivable for low-income earners making less than 7,000 baht a month – approximately 10 million households.

It is important for the government to focus on this group and provide a monthly subsidy of 300-400 baht, he suggested, adding 200 baht to each welfare cardholder.

Individuals with welfare cards are currently entitled to a 300-baht monthly benefit if their annual income is below 30,000 baht, or a 200-baht monthly benefit if their income is between 30,000 baht and 100,000 baht.

Concerns over the rising cost of living

Despite his agreement with the government’s plan to move the fourth phase of the Khon La Khrueng co-payment subsidy to mid-February, Mr Nonarit called for the government to invest in upskilling and reskilling workers to increase their job prospects.

The more money people make, the more they spend and this boosts the economy.

Kasikorn Research Center reports that even though the government has put in place relief measures, most consumers are still concerned about the rising cost of living, particularly food and transport.

Consumers in Bangkok expect both the public and private sectors to play a proactive role to ease their economic burdens, according to a Kasikorn survey.

Those who earn less than 15,000 baht a month are the most affected compared to other groups, and 36% say food price costs have risen over 20% from late last year.

Most people want the government to cap the food prices and fuel, increase the minimum wage, and give discounts on electricity and water bills.

Consumers are tightening their belts

The survey also found that respondents would prefer that businesses organize more promotional campaigns, delay price increases, or resize offerings rather than raise prices.

As a result, consumers are tightening their belts, either reducing their expenditures or holding back on buying luxury and durable goods and cutting back on partying. Motor vehicles, fashion products, and real estate are likely to take a hit, which will hurt the recovery of these industries.

Consumers are likely to switch to house food brands, which offer lower prices, as well as other meat or food products that are less expensive. The survey also noted that this gives house brands a chance to raise brand awareness and market their products.

More than half of the people surveyed also believe the rising food prices and the rise in living costs will last longer than a year.

In addition to short-term relief measures like price controls, the Kasikorn Research Center recommends that the government and private sector tackle supply shortages and improve the competitiveness of small-scale operators.

In order to help consumers and create room for growth in the future, we need the private sector to be more flexible and more efficient. Using data analysis and stock management technologies for business management and decision-making are important, according to the survey.

Source: Bangkok Post

Food

America’s French Fry King Sounds An Alarm

Published

2 months ago

October 8, 2024

kiaragrace

Americans are revolting against McDonald’s and other fast-food establishments. This is harming French fry suppliers like Lamb Weston.

Lamb Weston, North America’s largest manufacturer of french fries and a significant supplier to fast-food chains, restaurants, and grocery stores, is closing a production facility in Washington state. Last week, the company stated that it would lay off almost 400 employees, or 4% of its workforce, and temporarily shut down manufacturing lines in response to falling customer demand.

Lamb Weston (LW) shares have plummeted 35% this year.

America’s French Fry King Sounds An Alarm

The potato giant is oversupplied at a time when demand is low. In recent years, restaurant prices have risen faster than grocery store prices, prompting shoppers to avoid fast-food establishments.

This move has had an impact on Lamb Weston because individuals are less inclined to prepare French fries at home. According to Lamb Weston, fast-food restaurants account for around 80% of all french fries consumed in the United States.

Fast-food restaurants, such as McDonald’s, are offering bargain menus to entice customers back. McDonald’s has introduced a $5 meal that contains a McDouble cheeseburger or a McChicken sandwich, small french fries, four chicken nuggets, and a small soft drink. However, these promotions are not benefiting Lamb Weston because customers are purchasing fewer portions of fries.

“Many of these promotional meal deals have consumers trading down from a medium fry to a small fry,” Lamb Weston CEO Thomas Werner stated during an earnings call last week.

Lamb Weston did not immediately reply to CNN’s request for comment.

McDonald’s, Lamb Weston’s largest customer, accounts for 13% of revenue. As McDonald’s goes, so does Lamb Weston.

America’s French Fry King Sounds An Alarm

And McDonald’s is struggling. Sales at US restaurants open at least a year declined 0.7% last quarter compared to the same period a year ago, dragged down by fewer consumers visiting the brand.

Lamb Weston is also heavily exposed to other fast-food companies, according to analyst R.J. Hottovy of analytics firm Placer.ai, in a research note to clients last week.

Customer traffic to fast-food restaurants fell 2% last quarter and 3% the prior quarter compared to the same period last year, according to Lamb Weston.

SOURCE | CNN

Food

Logan Paul And MrBeast Have A Lunchables Competitor That They Say Is Healthy

Published

2 months ago

October 3, 2024

kiaragrace

YouTube’s top stars have launched their competitor to Lunchables.

MrBeast, Logan Paul, and KSI are collaborating on a “groundbreaking new better-for-you lunch option” called Lunchly, combining all their goods into a single meal geared at their younger fans.

The all-in-one meal includes a bottle of Prime Hydration, a sports drink alternative founded by Paul and KSI that has grown in popularity; a Feastables milk chocolate bar created by MrBeast, a popular YouTube star with over 300 million subscribers; and one of three processed food options, including pizza, nachos, or turkey aand cheese with crackers.

Logan Paul And MrBeast Have A Lunchables Competitor That They Say Is Healthy

“Our ultimate goal has always been to offer not only high-quality products, but also healthier alternatives,” Lunchly cofounder Logan Paul stated in a press release. He also stated that the school lunch industry has been “dominated by Lunchables” since he was a child, and that it is “time to provide a better option for those looking for a convenient, healthier choice.”

Lunchly promises to be “healthier” since Prime contains more electrolytes than a Capri Sun in Lunchables, and Mr. Beast’s chocolate bar contains less sugar than a Kit Kat or Crunch bar.

Lunchly’s launch comes after Lunchable, owned by Kraft Heinz, announced a huge initiative last year to participate in school lunch programs. However, the company had to reformulate the components first to guarantee that the items met regulatory rules, which included incorporating fresh fruit into their meals.

Consumer Reports reported in 2024 that it recently studied the nutritional profiles of two Lunchables kits supplied in schools and discovered that they contain significantly more sodium than the Lunchables kits available in stores.

Logan Paul And MrBeast Have A Lunchables Competitor That They Say Is Healthy

Of course, KSI, Paul, and MrBeast know how to create brands, thanks partly to their devoted following. Despite government worries about the caffeine content of some of its drinks, Prime sales have risen, threatening industry leaders such as Gatorade and BodyArmor.

“Prime brings a youthful buying cohort that hasn’t had a lot pitched their way beyond traditional kids’ drinks,” Jeffrey Klineman, editor-in-chief of BevNet, previously told CNN. “Paul is significantly more intriguing to a 13-year-old than a juice box.”

SOURCE | CNN

Food

Beyond Soups and Stews: Unexpected Ways to Utilize Your 5 Litre Pressure Cooker

Published

6 months ago

June 21, 2024

Freelancer

Beyond Soups and Stews: Unexpected Ways to Utilize Your 5 Litre Pressure Cooker

Pressure cookers are very popular cooking utensils for preparing soups, stews, and tenderising meats in quick time. However, their versatility and uses go far beyond these traditional uses.

If you’re trying to use your 5 litre pressure cooker differently, you are at the right place, as we are going to explore unexpected and creative ways to use this essential kitchen utensil.

Infused oils and extract

You can use your pressure cooker to prepare infused oils and extracts. To do that, you have to put the herbs, spices, or citrus peels in a jar filled with oil or alcohol. Then, seal the jar and cook under low pressure for a short time to infuse the flavours uniformly.

By this method, you can extract intense flavours in a quick time as compared to what it takes through traditional infusion methods. You can also experiment with combinations like rosemary-infused olive oil or vanilla extract for baking.

Artisanal Curd Making

You can use your pressure cooker to prepare yoghurt. To do that you have to heat the milk to a proper and specific temperature, and then cool it down before adding yoghurt culture. After that, keep the mixture in jars, seal, and ferment in the pressure cooker with the use of the yoghurt setting. And yes, after that, you will have creamy, homemade yoghurt at a much lower cost than store-bought varieties. You can add up your yoghurt, various flavours and toppings for a healthy breakfast or snack option.

Quick pickling

You can also prepare quick pickles using your pressure cooker. For doing that combine the ingredients such as vinegar, water, salt, and your choice of vegetables or fruits in the cooker.

Now, after that, cook under pressure for a few minutes to infuse the flavours rapidly.

Once it is done and cooled, your quick pickles will be ready to eat and enjoy, giving a taste of tangy flavour to sandwiches, salads, or charcuterie boards. You can do this using different spices and herbs to prepare unique flavour profiles for your pickles.

Steaming vegetables and seafood

You can use your pressure cooker’s steaming capabilities to cook vegetables and seafood very easily and quickly. To do that, you have to place a steamer basket inside the cooker, add water, and put your ingredients.

Then, after that, cook under pressure for a few minutes to keep the nutrients intact and also get the perfect tenderness. From crisp-tender asparagus to succulent shrimp, the possibilities of preparing the dishes are many. You can add different flavours using aromatic herbs, spices, and citrus zest.

Homemade bread and desserts

You can amaze your family with freshly baked bread and delicious desserts that can easily be prepared in your pressure cooker. To do that, use the cooker as a makeshift oven by placing a trivet inside and also adding water to it.

After that, you have to place your bread dough or dessert batter in a heat-proof container, cover it, and then cook under low pressure. In very little time, you will get tender bread or delicious desserts without even messing up the kitchen. You can also try various other recipes like chocolate lava cake or savoury herb bread for a delightful treat.

One-pot pasta dishes

You can easily prepare one-pot pasta dishes that are cooked perfectly in your pressure cooker. To do that you have to combine pasta, sauce, vegetables, and protein in the cooker, and also remember to check and put enough liquid for cooking. Then, seal and cook under pressure for a few minutes. This will allow the flavours to get mixed beautifully.

And with this, from classic spaghetti marinara to creamy Alfredo, your pressure cooker can do it all. You can enhance your pasta with your favourite ingredients and garnishes.

Conclusion on a pressure cooker

Cooking indeed is a creative method. Do justice to your creative culinary spirit with your 5-litre pressure cooker. Bake bread, make homemade yoghurt, and make several main dishes as well as side dishes using a wide pressure cooker.

Impress everyone and yourself! Make the best out of your culinary instincts.

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