The Friday Report Blog: July 15th, 2022

Quick wrap up of a few hot topic newsworthy stories in the supply chain logistics industry

Global Food Prices Finally Begin to Balance

After the Russian invasion of Ukraine, the Food and Agriculture Organization (FAO) Food Price Index hit record highs. The skyrocketing prices for food stuffs and commodities immediately disrupted supply chains around the globe. However, for the third month in a row the index is has lowered as global harvests have increased.

The FAO has stated that global food prices have improved in large part to the world’s grain forecast, which is larger than forecast. This supply is much needed as 46 countries need food aid, with Ukraine being a new addition to the list.

Although the prices of grain, sugar, and vegetable oil fell from May to June, the prices of meat have rushed to an all-time high. The FAO cited global conditions impacted by the Ukraine war and bird flu outbreaks have attributed to the higher prices of meat.

The Food Price Index is currently 23 percent higher than it was one year ago.

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Experts Believe Last Mile Logistics is Investment Worthy

A recently released report suggest that private investment into global supply chains is imminent, especially in resilience and last mile logistics. PitchBook Data’s report, “Private Equity’s Opportunity in Supply Chain Technology”, notes that Industry 4.0 technology is essential to improve the long-term growth of last-mile logistics in relation to e-commerce. These investments are intended to drive scale and add value to already established businesses by increasing their capital expenditure. Investors hope their tactics will increase supply chain efficiency and stability enough for companies to experience vertical progress.

The report stated that investors are searching for supply chain tech companies that wish to develop last-mile delivery and automated delivery and fulfillment capabilities.  Private Equity investors are seeking to invest in warehouses due to the e-commerce boom. By leveraging technology, e-commerce distribution centers and warehouses can speed delivery times and streamline inventory management.

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Video Games Sales Expected to Fall Amid Supply Chain Disruptions

For the first time in years, video game sales are expected to decline as the industry faces supply chain bottlenecks and the possibility of a recession. From 2019 to 2021 the video gaming industry grew 26% and reached a record-breaking $191 billion in sales, in large part due to the coronavirus pandemic.  However, the global games and services market is predicted to fall to $188 billion in 2022.

The arrival of the latest consoles from Microsoft and Sony was supposed to usher in a new era of gaming and improve upon industry success during the pandemic. Instead, consumers all over the world have found it increasingly difficult to purchase gaming systems. With ports closing in Russia and video game hardware and software makers halting operations in the country, consumers have been unable to find the latest consoles on shelves. This is projected to have a costly impact on the video game industry. Russia, the world’s 10th largest video game market in 2021 is expected to lose $1.2 billion alone.

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