A strict new food traceability rule is set to become official on November 7, according to the US Food and Drug Administration (FDA), that will make it easier to trace foods that are often linked to foodborne illnesses. In this episode of the Xtalks Food Podcast, Sydney talks about which foods are considered high risk, the details of the new rule and the barcoding technology required to follow it. To make foods safer, the rule requires a detailed account of food origins and movements throughout production, processing and shipping, even as these foods are transformed into other food products or as other foods are added to them. The team wonder whether food producers still use old-fashioned paper-and-pencil methods of record keeping and whether this rule will be effective in preventing foodborne illness outbreaks.
Also, in this episode, Sydney talks about some potential initial public offerings (IPOs) from food and beverage companies. While there have been far fewer IPOs this year compared to last year, several private food and beverage companies have been prepping to go public, and some may still do so in the second half of this year. She discusses three potential food IPOs, including Impossible Foods, Instacart and Chobani, as well as how some of last year’s food IPOs have been performing. All three companies have delayed their IPOs due to market volatility, inflation and/or rising interest rates, but hope to become public by the end of the year or the beginning of next year. The team wonder whether Instacart has passed its pandemic peak and discuss the risks of going public versus remaining private.
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