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Weekly Round-Up... 9 March 2021

Published on Mar 9 2021 10:15 AM

Weekly Round-Up... 9 March 2021

The global grocery retail market is set to grow by $440 billion (€370 billion) between 2020 and 2022, a compound annual growth rate of 3.1%, a new study by IGD has found. According to IGD, the grocery market in the top 20 markets grew by $280 billion (€235 billion) last year, which equates to growth of 8.8%, due to the shift from out-of-home to at-home dining, reports esmmagazine.com India's grocery market is poised to post the highest growth between 2020 and 2022, IGD said, with a CAGR of 7.2%. Growth in China will remain 'robust', it added, as the accelerated shift towards online continues, while in Europe Central and Eastern Europe is expected to grow faster than Western Europe.

Aldi is searching for an Easter egg taste tester to sample its biggest range yet. One lucky recruit will receive free chocolate in exchange for reviews that will help form the 2022 Easter chocolate range. According to Aldi, the skills listed include ‘infatuation for confectionery and experimental tastebuds’. The overall winner will receive Aldi’s Easter Egg range as well as a €500 Aldi voucher. The three runners up will each receive a hamper of Aldi Easter Eggs and a €200 Aldi voucher. Applications open on the 8 March and close on the 12 March. John Curtin, group buying director at Aldi Ireland said, “This year, we have an exciting opportunity for a trusty Easter egg tasters to join us, and pick their favourite products from our 2021 Easter range. Their feedback will also help our buying team create next years’ showstoppers, to ensure we’re giving our shoppers what they want. We’ve never before had such a wonderful variety of Easter egg shapes, colours, and flavour combinations. We want to hear from people of all ages (Over 18 only) who simply love chocolate and can help showcase our innovative range."

Make-A-Wish is appealing to the public to come behind their campaign to celebrate special Mums this Wish Week, 8 - 14 March. Supported by Spar and culminating on Mother’s Day, Wish Week is a plea to the public to help bring joy to seriously ill children and their families across Ireland by making a donation. Last year, Make-A-Wish Ireland experienced significant disruption to both their fundraising activities and their ability to grant wishes due to the COVID-19 restrictions. Despite these obstacles however, they managed to grant 56 wishes to children across the country who are living with life-threatening illnesses. These wishes ranged from having a garden play tower, to virtually meeting a favourite celebrity, to having a gaming laptop. Commenting, Colin Donnelly, Spar sales director said, "Unfortunately, there are now more than 200 seriously ill children throughout the country, who are anxiously waiting for their wishes to be granted. As Make-A-Wish does not receive any government funding, Spar is joining with them to ask the public to donate what they can to help make those magical wishes come true."

France's Auchan has raised its cost savings goal under its so-called Renaissance revival plan, which boosted 2020 profitability at its retail arm despite the COVID-19 pandemic, reports Reuters. Auchan, which reduced debt sharply last year with the sale of its Chinese subsidiary Sun Art Retail Group to Alibaba Group Holdings, on Friday posted a 27% jump in core profit in 2020 and said it would continue to sell some non-core assets in the first half of this year. 'Spurred on by its ongoing recovery, Auchan Retail is seeking to sustain this momentum in 2021,' the group said in a statement. Auchan said it is now targeting savings of €1.4 billion ($1.67 billion) by 2022, up from the previous target of €1.1 billion, having achieved savings of €664 million since launching the plan in 2019. For 2020 alone, savings reached €425 million.

Chicago soybean prices edged higher on Friday, on track for a fourth straight weekly gain, as dry weather in Argentina continued to fuel concern about global supply of the oilseed. Corn rose, recovering from a one-week low in the previous session, as dryness in Argentina and rain that was slowing planting in Brazil offset disappointment at lower than expected weekly U.S. export sales. Wheat ticked down, with showers expected in dry U.S. growing belts and improved growing conditions in major exporter Russia easing supply worries. Price movements were limited as traders looked ahead to monthly U.S. Department of Agriculture (USDA) crop forecasts next week while also waiting on Chinese demand to pick up after a lull since the Lunar New Year holiday. The most-active soybean contract on the Chicago Board Of Trade (CBOT) ended the overnight session up 0.4% at $14.16-1/2 a bushel. The contract had climbed to a one-week high on Thursday, nearing last week's 6-1/2 year peak. "Season 2021 prices continue to creep up on season highs traded recently," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia in Sydney. "Argentina's weather outlook is helping to support prices."

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