Plant-based bubble bursts
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird Ventures, and its products are no longer available in supermarkets.
The baby formula sector suffered a double whammy: supply chain problems have affected all manner of good since the onset of the pandemic, then in February 2022 the U.S. Food and Drug Association shut down Abbott Nutrition's factory in Michigan over health concerns.
But three things are helping the US recover: the domestic production of baby formula has improved; imported formulas - part of the Biden Administration's Operation Fly Formula mission - have helped supplement the domestic brands; and lastly, there seems to be anecdotal evidence of less hoarding by panicked parents.
Most of the overseas formula was flown in from Europe and NZ manufacturers.
