Agtech Action | Week of 04.09.22 - 04.15.22
Agtech Action is a weekly newsletter highlighting current events in the world of agtech, and some light-hearted commentary
Krispy Kreme to sell donuts for the same price as gas, celebrities investing in a vegan protein drink and the bird flu spreads (could affect US poultry industry). Egypt considers planting genetically modified corn seeds, a future without fertilizer and is a duckweed diet the key to life on Mars?
The theme of the agtech week is marketing, a tactic that when deployed very effectively can drive demand. We look at a couple of cases where marketing did and did not drive demand. Marketing brings them to you, but you gotta keep them there! Happy agtech Friday!
Food and the World:
Drought Conditions Less Intense Across Much of the Corn Belt
China makes big US corn purchase as war continues to block Ukraine exports
Bird Flu Spreads in Northern Plains, Minnesota Hit Again
Grains Recover Previous Week’s Losses
Soybean Seed Treatments Can Be ‘Low-Hanging Fruit for Yields’
Corn Planting Progress Stuck at 2%, says USDA
The latest angle on social media marketing produce to families
E15 to be sold this summer (0:00 mark)
Food at Home Prices Shot Up 10% — and American Shoppers are Willing to Fork Over the Extra Cash
Meat industry not threatened by plant-based alternatives, study suggests
Consumer price index up 8.5% (0:35 mark); food prices up nearly 9%
Biden to Allow Higher-Ethanol Fuel Sales in Summer to Check Gas Prices
USDA researchers look at fall seasonal effects connected to E. coli outbreaks in bagged romaine
Fewer Corn Acres and the Potential Supply Issues in Ukraine and Brazil
China’s Corn Planting Facing Delays as Lockdowns Leave Farmers Stranded
Export, Import Issues Plague Ukraine as War Persists
Food at Home Prices Shot Up 10% — and American Shoppers are Willing to Fork Over the Extra Cash
Chile plans water rationing in capital after 12 years of drought
Uganda fights crop-devouring armyworm, blaming climate change
Our food system isn't ready for the climate crisis
50M chickens and turkeys impacted by bird flu (0:00 mark)
Shipping delays at the border (0:30 mark)
Brazil’s Lula promises to stop illegal mining on Indigenous lands
Texas governor action causes trucker blockade, 'dramatic impacts' to supply chain
Arugula Microgreen Market Covid-19 Impact: A Mix of Challenges and Opportunities for Stakeholders
Agtech in the News:
Anthony Vineyards collaborates with Hazel Technologies
Interesting data and infographic illustrating funding raised by female CEOs in Africa (thanks to The Big Deal for these insights)
Egypt considers planting genetically modified seeds due to high prices of grain: Lawmaker
Blockchain-Powered Agritech Startup TraceX Raises $1M in Funding
What Farmers need to Know About Carbon Contracts
The World’s First Genetically Engineered Wheat Is Here
Siemens enables underwater farming revolution with digital twin solutions
What Will the Rise of Giant Indoor Farms Mean for Appalachian Kentucky?
This country has emerged the top destination for agritech investments in Africa
McKinsey partners with Stripe, Alphabet, Shopify, and Meta on $925 million carbon removal commitment
Benson Hill capitalizing on economy standards
Farming Fish for a Food Secure Future in Algeria’s Sahrawi Refugee Camps
Dubai-based Badia Farms, Brings High Tech Vertical Farming to the Region
Vertical Farming Market size to Hit USD 20.91 billion by 2029
Startup Companies Introduced for DFA’s 2022 CoLAB ACCELERATOR PROGRAM
Fun:
Farm Rescue Helps Farmers Facing Illness, Injury, or Natural Disasters
Exercise reduces depression (1:00 mark); 18% lower risk
Nutrition Benefits of Wolffia Globosa (Duckweed) on Human Health
How companies encourage families with young kids to eat more produce
Krispy Kreme to sell donuts for same price as gas (1:00 mark); deal only on Wednesdays using national average
Why The Weeknd, Kevin Hart, and 21 Other Celebs Invested in This Vegan Protein Drink
Is life on Mars a duckweed diet away? Not quite, but it could advance the cause of space travel
Helpful Resources:
14 funding tips from entrepreneurs who’ve been there
Be Aware of Current Laws on Estate Taxes
PitchBook-NVCA Venture Monitor
Avoid these Agronomic ‘Sins’ in the Season Ahead
Interesting Reads:
Scientists see red over research on meat’s health risks
Is lamb the Cinderella of the meat case?
Grassland Ecology 101 for Vegans and Synthetic Meat Marketers
New research has found evidence of plastic in the bloodstream of humans
E15 Summer Ban Suspended, USDA Commits $700M To Biofuels Producers
1 farmer feeds 154 people and you: Here is how
Our Current Understanding of the Human Health and Environmental Risks of PFAS
A Policy Roadmap for 24/7 Carbon-Free Energy (from Google)
With emergency SNAP benefits ending, a ‘hunger cliff’ looms
The Violent Cost of Conservation
EU plans to counter Russia with food diplomacy in North Africa, Balkans
Finance:
EU approves East Just’s plant-based egg ingredient
SLM Partners acquires 300ha Spanish permanent crop asset
More crop per drop: Using water responsibly
EU’s farm-to-fork strategy must not forget smallholders
Private investment in Australian carbon farming ‘underdeveloped’
Convent Capital launches €150M agri growth fund
Q1 2022 AgTech Venture Capital Investment and Exit Round Up
Clariant Launches Drift Control Agent and Biological Activator for Drone Spraying
Enzymit Raises $5M For Bio-Manufacturing Platform It Claims Can Replace Fermentation
UK’s Better Origin Secures $16M Series A for AI-Powered Insect Mini-Farms
Leaft Foods Secures $15M to Harness Protein from Leaves that Acts Like Animal Protein
CULT Food Science Backs Cell-Based Oyster Company Pearlita Foods
Theme of the Agtech Week: Marketing
Marketing, marketing, marketing is the theme of the agtech week; and no I’m not talking about cheesy marketing tactics, I’m talking about effectively communicating value to your market—that marketing. Let’s look at a few examples.
The plant-based protein, vegan ‘movement’ is a proof positive example of the power of marketing. ‘Plants are good for you,’ ‘you’ll save the environment,’ or look at celebrity X, if you want to be cool like X you’ll drink our drink, buy our product. Think about any iconic marketing campaign: Dos Equis’ ‘The Most Interesting Man’, Got Milk? or Apple’s ‘Get a Mac’. These campaigns used an effective combination of celebrity, social currency (or validation), and communicating hidden value (or lost value if you don’t buy). Bringing it back to plant-based, when you see celebrities investing in such products, why wouldn’t you want to be a part of that?
Looking at the plant-fed meat (aka animal protein), let’s take a look at an animal that historically did not benefit from marketing—lamb. Since I can’t do it justice, Janette Barnard’s latest newsletter explains the history of lamb, and how it did not benefit from WWII canned mutton (meat from a sheep over the age of 1 year, where as lamb is meat from a sheep under 12 months old), decreasing costs for beef and pork, and ‘eat no meat’ campaign that aimed at stopping lamb meat consumption to preserve lamb for wool.
Couple this with the fact that sheep were slaughtered during wartime when meat supplies were low, and lamb has a historically bad marketing problem. Interestingly, interest and demand for lamb has risen during the pandemic but will it stay that way? What if a clever marketing campaign championing lamb meat, its health benefits (great source of vitamin B and has anti-inflammatory assets) among other value? Got lamb?! (Too easy, I had to do it!)
Once you get them there, then you have to keep them (topic for a future edition). Always be marketing!
BD
Brandon Day is the Chief Operating Officer of The Yield Lab Institute, the global agtech think-tank, non-profit arm of The Yield Lab global network of venture capital funds and accelerator programs. The views, opinions and commentary expressed are solely those of Brandon Day.