Blockchain technology has the potential to make every transaction in the agri-supply chain transparent, traceable, and verifiable without any third-party oversight.
If you have heard of the trending buzzword ‘blockchain’, I am sure your thoughts would have been intuitively directed to bitcoin and other cryptocurrencies. As a distributed and collective public ledger system, blockchain is perhaps most often associated with fin-tech. But what if you were told this technology has the potential to make every transaction in the agri-supply chain transparent, traceable, and verifiable without any third-party oversight? Let us take a look at the following scenarios:
In 2017, a multi-state Salmonella outbreak infected over 220 people in the US, linked to the imported Maradol papayas from Mexico. The Centre for Disease Control (CDC) along with the FDA conducted DNA fingerprinting of samples from patients to trace the source of contamination. This news received much attention, not just from a food safety point-of-view, but more importantly for traceability, mitigation, and containment of contamination.
In the year 2015, a multinational food and beverage company had to recall over 38,000 tonnes of noodles from the market due to presence of certain avoidable ingredients in their product. The brand value took a hit in market share (from 80% to 60%), spending over $70 million in recalls, with lost sales of over $277 million.
In 2013, the horse meat scandal exposed food labeling fraud in the UK, wherein burgers and ready meals on sale by leading retailers and fast food outlets contained traces of undeclared horse meat instead of processed beef.
This story is from the May 2018 edition of Progressive Grocer.
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This story is from the May 2018 edition of Progressive Grocer.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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Gurgaon's First and Most Successful Independent F&G Retailer
SINCE LAUNCHING ITS FIRST OUTLET IN THE YEAR 2000 IN DLF GURGAON AT A TIME WHEN MODERN TRADE FOOD AND GROCERY STORES WERE NOWHERE ON THE RETAIL HORIZONS OF THE MILLENNIUM CITY, NEEDS SUPERMARKET HAS GROWN TO ADD 26 LARGE, MEDIUM AND SMALL STORES TO ITS KITTY, CLOCKING AN ADMIRABLE RUN RATE ON VARIOUS PARAMETERS OF RETAILING EXCELLENCE ALONG THE WAY. PROGRESSIVE GROCER SPOKE TO NEEDS SUPERMARKET’S MD AJAY DHAR, AND CEO, ARUN KHATTAR, ABOUT HOW THE GROCERY CHAIN HAS BEEN ABLE TO HOLD ITS OWN AND CLOCK STEADY GROWTH IN A HYPER-COMPETITIVE MARKET DOTTED WITH BIG-BOX NATIONAL RETAILERS AND THE SECRET SAUCE BEHIND ITS SUCCESS RECIPE.
Paras Spices is innovating with unique products to meet new trends in the spices category
CATEGORY WATCH FOOD STAPLES
Brands and retailers collaborate to promote the growth of non-alcoholic beverages
SUPER-HERB INFUSED BEVERAGES THAT BRING THE POWER-PACKED GOODNESS OF SUPERFRUITS ARE TAKING THE MARKET BY STORM. THESE NONALCOHOLIC BEVERAGES CLAIM TO CONTAIN ZERO CALORIES, ZERO SUGAR, ZERO ARTIFICIAL SWEETENERS, AND ZERO PRESERVATIVES AND ARE DESIGNED FOR TODAY’S MILLENNIAL-GEN WHO ARE SEEKING A HEALTHY DRINK WITH A TASTY TWIST.
Just Outside the Box
THE HUMBLE PARKING LOT HAS BECOME A DIFFERENT KIND OF RETAIL DESTINATION AND HUB OF COMMERCE.
Increased Focus on Health, Wellness, and Immunity-boosting Products
SALES OF PACKAGED FOODS HAVE SURGED SINCE THE ONSET OF THE PANDEMIC, AS HOME-BOUND CONSUMERS STOCKPILE FAMILIAR PRODUCTS THAT WON’T GO STALE QUICKLY. BREAKFAST CEREALS, INSTANT NOODLES, RICE AND COOKING FATS ARE AMONG THE PRODUCTS THAT HAVE SEEN THE STRONGEST GROWTH IN RECENT MONTHS.
Consumer focus on hygiene & nutrition boosts packaged paneer sales
THE DEMAND FOR CATEGORIES SUCH AS CHEESE AND PANEER HAS WITNESSED AN ALL-TIME NEW HIGH DURING THIS PANDEMIC THANKS TO THE VERSATILE NATURE OF THESE PRODUCTS. NOT ONLY IS PANEER DELICIOUS TO TASTE BUT DURING THE HEIGHT OF THE LOCKDOWN, THE INTERNET WAS TRENDING WITH UNIQUE, FUN AND EASY-TO-MAKE PANEER RECIPES.
How Hormel Became a Snack Company
ACQUISITIONS, ADJACENCIES AND INNOVATION DEFINE THE GLOBAL BRANDED FOOD COMPANY’S GROWTH STRATEGY
The New Normal for Snacks
THE POST-PANDEMIC CONSUMER WILL DEMAND BETTER-FOR-YOU MEAL SOLUTIONS MORE THAN EVER BEFORE.
The rise of superfoods and ways to mainstream them on retail shelves
WHAT ARE SUPERFOODS AND THEIR BENEFITS AND WHY THESE PRODUCTS ARE WITNESSING A HUGE SURGE IN DEMAND? WHAT ARE THE CHALLENGES OF INFUSING THESE SUPERFOODS INTO OUR TRADITIONAL FOOD PRODUCTS, AND HOW CAN THEIR VISIBILITY AND AWARENESS BE RAMPED UP IN ON-GROUND SHELVES OF SUPERMARKETS AND RETAIL COUNTERS?
What is driving consumers to become more conscious of what they eat?
WITH CONSUMERS BECOMING MORE HEALTH-CONSCIOUS, RETAILERS HAVE ALSO STARTED MAKING SHIFTS IN THEIR OWN MERCHANDISING AND MARKETING TO KEEP UP WITH THE TREND.
