Vertical farming and sustainability: The future of food
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With shorter days, crisp weather, and holidays fast approaching, it’s the sweet season. The air is filled with the fragrance of apple pies, pumpkin spice lattes, and other treats.
But this year, a global sugar shortage means you’ll be shelling out more for those sweets. And if you plan to whip up a pie or a batch of cookies yourself, you might have to hunt around for the essential ingredient.
Droughts in parts of the world and too much rain in others have dramatically reduced sugar supplies. Due to extreme weather conditions, experts estimate up to a 15% decrease in the world’s sugar supply.Global sugar supply under pressure
This year’s sugar shortage comes after a series of weather events impacted the world’s top suppliers:
- Floods and droughts ravaged the sugar harvest in India, threatening the country’s No. 1 position as a global sugar supplier.
- Excessive rainfall delayed harvests in Brazil, preventing the country from building enough sugar stockpiles.
- Poor sugar beet harvests in European countries compounded the global issue.
All of this has resulted in skyrocketing prices for the sweet stuff. In April, the cost of raw sugar reached its highest price since the end of 2011, according to the European Commission.
The Consumer Price Index released by the US Department of Labor in September showed that the retail price of sugar and sweets increased 6.5% over the past year.
Since sugar is a key ingredient is so many food products, the shortage is having a widespread impact. From bakeries and candy manufacturers to CPG brands, businesses of all kinds are feeling the pinch.
You can find sugar where you least expect it: soups, sauces, salad dressings, and even meat dishes. For example, one teaspoon of ketchup contains a whopping 7% of a total daily value of sugar in a person’s diet.
Sugar shortage and the need for sustainability
The troubled sugar supply follows a couple other food shortages this year, with climate change playing a key role.
Sriracha hot sauce has been in short supply after prolonged drought conditions in Mexico and other areas damaged red jalapeno pepper crops. Extreme weather followed by an export ban by India, the world’s top rice exporter, has put the global rice supply at risk.
These shortages point to the need for sustainability across the global supply chain. The concept must be integrated into every business and our daily lives.
We must take action now, starting with rethinking how we use and manage resources. If we want to have products in the future, we need to start producing products more sustainably.
Integrating sustainable practices into business operations is crucial. This includes initiatives such as reducing carbon footprint, incorporating green technologies, and adopting circular economy principles.
ESG and transparency: Working towards an ethical supply chain
Since sugar is often grown in low-wage areas, a key step towards sustainability is buying only products that have been sourced ethically and with fair pay to workers.
Here’s where ESG (environmental, social, and governance) regulations can help. They provide a framework for ensuring corporate responsibility and adherence to ethical practices.
However, these rules are evolving rapidly, which can make it hard to keep up. Transparency throughout your supply chain is vital for complying with rapid regulatory changes. This means giving consumers — who are increasingly looking to buy from environmentally and social responsible companies – a way to verify a product’s origin and production.
The ethical supply chain: Definition, examples, stats
Consumers expect more from the brands they buy from, and an ethical supply chain is now a requirement. Learn what it means and how to get started.
Building resiliency
The sugar shortage has demonstrated that demand for sugar is overreaching the supply, which puts companies in a reactive mode. Real-time data is critical to withstand disruptions and proactively take the necessary actions.
By making all processes visible, companies can better understand demand and be better prepared for any disruptions. Real-time data makes it easier to control every process and predict when something could go wrong.
No one organization can restore the environment and ultimately protect the future of our planet. Real sustainability requires participation by every business across industries.
With deep visibility into supply chain data and the ability to evaluate and verify supply chain partner practices, you can more effectively minimize waste, cut emissions, and reduce your carbon footprint.
