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Weekly Round-Up ... 24 January 2023

By Donna Ahern
Weekly Round-Up ... 24 January 2023

US retailer Kroger’s free-from brand, Simple Truth – valued at over $3 billion (€2.8 billion) – is celebrating its tenth anniversary. The brand offers more than 1,500 SKUs that are organic and free from a range of artificial colours, flavours, preservatives and sweeteners, reports The products are minimally processed and use meat from farms that raise their livestock naturally, with a 100% vegetarian diet free from antibiotics or added hormones. Certified organic products offered by Simple Truth are produced by organic growers and handlers certified by agencies and organisations accredited by the USDA and free from synthetic fertilisers and genetic engineering, Kroger added.

Chicago soybean futures fell again on Monday, touching their lowest in around two weeks, as expectations of rain in Argentina’s parched growing areas eased concerns over crop damage. Argentine rain put pressure on corn, and falls in both corn and soybean prices also undermined wheat, reports Reuters. “Soybeans and corn are being pushed down by forecasts of more rain in Argentina, which will be very welcome for Argentine crops after drought, which has been a major factor in the market in past weeks,” said Matt Ammermann, commodity risk manager, StoneX. “With more rain forecast in Argentina in [the] coming days, we may start to see a feeling in the market that the drought risk to Argentine crops has now been priced in, and maybe some risk premium should now be removed.”

Bulgarian retailer Fantastico Group has undertaken large-scale renovations in two of its stores, both located in Sofia, following an investment of close to €17.5 million. One store, in the Malinova Dolina district, was converted from a supermarket into a shopping centre, with a total floor area of 9,000 square metres, making it one of the group’s top three largest stores, reports As well as boasting a supermarket with more than 40,000 SKUs, the new-look site now includes a bookstore, a toy store, an optical store, a pharmacy, a pet shop, and dry-cleaning, insurance, money transfer and courier services.

© 2023 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more retail news, click here. Click subscribe to sign up for the Checkout print edition.


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