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Thursday, 1 October 2026

1 Oct · Food · In brief

Food · Thursday, 1 October 2026

Food, in brief

17 stories · 22 sources

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What is moving · 1 of 4

Shoppers buying fewer treats

High ↑

Lindt says shops in parts of Europe ordered less chocolate after its price rises. [1] Many shoppers are trading down to cheaper brands, the food trade press reports. [9] Hershey is launching new bars under its best-known name while shoppers pick treats more carefully. [20]

What is moving · 2 of 4

Investors holding back

High →

Money put into new farm and food companies was $3bn from April to June, against $12.1bn at its 2022 peak. [14] ArkeaBio, which makes a vaccine to cut cow methane, let go about a third of its staff. [12] The creditors of Believer Meats, a closed lab-grown meat firm, say they will not keep paying to run its plant. [8]

What is moving · 3 of 4

Summer heat on crops

Building ↑

Europe's summer heatwave cut how much chocolate people ate. [2] Some pumpkin growers in southern England say their crop is down by half or more. [17] Two gene-editing firms are working on strawberries that keep fruiting in high heat. [16]

What is moving · 4 of 4

Rules on what food firms say

Building ↑

Britain's advertising watchdog banned a Huel advert that suggested its shakes could replace all food. [10] The UK government plans to make large food companies report how much healthy food they sell. [18]

Part of the day's signal

One pressure seen across the day runs through Food too.

Lindt cuts its 2026 sales forecast to almost no growth and plans to lower its chocolate prices. Shoppers in parts of Europe bought less after its price rises

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Lindt & Spruengli, the Swiss company that makes Lindor truffles and Ghirardelli chocolate, cut its sales forecast for 2026 on Tuesday. [1][2]

Who is involved

Who is involved

Why it matters

Watch whether lower Lindt prices bring back the European shoppers who bought less this year, which Lindt says should show up as more chocolate sold in 2027. [1][4]

What's really going on

Lindt raised its chocolate prices to cover years of expensive cocoa, and shops in parts of Europe ordered less, so it now plans to lower prices while still aiming to keep more profit on each sale. [1][4]

Who gains

Lindt plans to lower its prices after shops in Europe ordered less. [4][1]

Who pays

The shares fell 8.7% on Tuesday after the forecast cut. [3]

Nobody knows yet

How much cheaper Lindt's chocolate will get, and when.

Lindt says it plans to lower prices, but no figure or date was in the reports we could read. [4][2]

Nobody knows yet

How far cocoa prices have fallen.

FoodNavigator says cocoa prices are starting to ease, for now at least, and gives no figure; Lindt expects its costs to settle only over the coming months. [2]

Part of a signal

Higher prices putting buyers off

Also seen in Gaming, Finance and Money.

The whole signal →

The short version

That's the story in short.

The whole story has 12 more parts.

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The whole story, in 12 parts ↓

Part 1 of 12 · Who else is involved

Part 1 of 12 · Who else is involved

Part 2 of 12

It now expects sales to grow by 0% to 2% this year, leaving out currency swings and companies it bought, down from 4% to 6%.

Part 2 of 12

It was its second cut this year. [1][3]

Part 3 of 12

Its chief executive, Adalbert Lechner, said years of very high cocoa prices had forced Lindt to raise its own prices. [1]

Part 4 of 12

He said those price rises and gloomy shoppers meant shops in some European countries ordered less than expected, above all of seasonal chocolate. [1]

Part 5 of 12

Europe's record summer heatwave also cut how much chocolate people ate, across the whole industry. [1][2]

Part 6 of 12

Lindt now plans to lower the prices of its chocolate. [4]

Part 7 of 12

Sales held up well in North America and Asia. [2]

Part 8 of 12

The same week, Lindt launched its Christmas range, from advent calendars to chocolate teddies, aimed at shoppers who spend more on gifts. [5]

Part 9 of 12

Lindt still expects the share of each sale it keeps as operating profit to rise by 0.2 to 0.4 percentage points this year. [1][2]

Part 10 of 12

Its shares fell 8.7% on Tuesday, the biggest fall on the STOXX 600, an index of Europe's large companies. [3]

Part 11 of 12

Cocoa prices have started to ease, and Lindt expects its costs to settle over the coming months. [2]

Part 12 of 12

Some ingredient firms now sell chocolate flavours that need less cocoa.

Part 12 of 12

DSM-Firmenich says its CocoaCraze range was built for exactly that. [6]

Namibia stops livestock trade after foot-and-mouth

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Namibia confirmed foot-and-mouth disease, a disease of farm animals, on 23 September in Karasburg, an area in the south that had been free of it. [7]

Ten of 11 samples tested positive and 63 cattle were affected. [7] Namibia banned livestock trade and slaughter nationwide, and the world animal health body withdrew the south's disease-free status. [7]

That stopped exports to China, South Africa and the United States. [7] Once the outbreak was found only in the Kharas region, restrictions north of Namibia's disease fence were partly lifted. [7]

Why it matters

Livestock is about 3.1% of Namibia's economy, and the US farm agency's report puts the cost at up to 12,000 lost years of work in 2026-27. [7]

Why it matters

Pig slaughter and trade remain stopped nationwide, causing pork shortages and price spikes. [7]

Who pays

The US farm agency's report puts the cost at up to 12,000 lost years of work in 2026-27. [7]

Who pays

Pig slaughter and trade are stopped nationwide, causing shortages and price spikes. [7]

Nobody knows yet

When China, South Africa and the US will buy Namibian meat again.

The report says the international bans continue and gives no date for lifting them. [7]

Good news

Namibia found its foot-and-mouth outbreak only in the Kharas region in the south, so restrictions on livestock north of its disease fence were partly lifted.

Lab-grown meat plant may go to its creditors

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Believer Meats grew meat from animal cells in tanks called bioreactors, and stopped work in December. [8]

Its two main creditors, the builder Gray Construction and Ameris Bank, are weighing a joint bid for its $150m plant in Wilson, North Carolina. [8]

They would pay partly with the debt Believer owes them: Gray says it is owed $36.4m, and Ameris lent $25m. [8]

The builder's claim and the bank's loan add up to $61.4m, more than UPSIDE Foods offered for the whole plant.

UPSIDE Foods, another lab-grown meat firm, dropped its $50m offer for the plant in August. [8]

Why it matters

Believer raised almost $400m, including from the investment arms of the food giants ADM and Tyson. [8]

Why it matters

The court-appointed manager says the creditors will not keep paying to run the empty plant for much longer, and any sale still needs a court's approval. [8]

How it works

When money is tight, people cut what they can skip

How it works

A box of chocolates or a risky new food firm can wait, so it loses buyers first when money is short.

How it works · step 1 of 5

Prices rise, or money gets tighter

How it works · step 2 of 5

Each buyer sorts what they need from what can wait

How it works · step 3 of 5

Bread and milk stay in the basket; treats and long-shot bets are put off

How it works · step 4 of 5

Sales of the things that can wait fall the most

How it works · step 5 of 5

Their sellers cut prices, cut staff or sell something else

The twist

A higher price hurts most the things people can do without, because those are the first things a squeezed buyer stops buying.

The picture

Money investors put into new farm and food companies, as counted by DigitalFoodLab. The latest three months brought in about a quarter of the 2022 peak.

Seen the same day

Money for new food firms

Investors put $3bn into new farm and food companies from April to June, against $12.1bn at the 2022 peak, because a start-up years from its first sale can wait.

Seen the same day

Believer Meats' empty plant

Its creditors will not keep paying to run a lab-grown meat plant that has no buyer for its meat, so the spending that can stop, stops.

Seen the same day

ArkeaBio's staff cuts

It let a third of its staff go to keep its money for one product and its first sales in New Zealand, and dropped the work that could wait.

Seen the same day

Hershey's new Reese's bars

Shoppers are choosier about treats, so Hershey puts new bars under a name they already buy instead of asking them to try a new one.

The catch

It depends on how squeezed the buyers are. Lindt's sales held up in North America and Asia while they fell in parts of Europe.

The whole

The shopper who skips the Christmas chocolates, the shop that orders fewer boxes and the investor who passes on a lab-grown meat firm each make a sensible choice.

The whole

Added together, those choices decide which cocoa farms, biscuit factories and start-up staff get paid next year, and each person sees only their own receipt.

Who gains

A credit bid would let them use the debt Believer Meats owes them as part of the price for its $150m plant. [8]

Nobody knows yet

Whether Believer Meats' plant will ever make lab-grown meat.

Any sale needs a court's approval and other bidders can still step in. UPSIDE Foods said in August it remained interested in the plant. [8]

McVitie's owner sells more but earns less

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Pladis, the British company behind McVitie's biscuits and Godiva chocolate, has just published its results for 2025. [9] Sales rose 1.2% to 3.3 billion pounds. [9]

Pladis sold a little more in 2025 than the year before, but made about an eighth less operating profit, after its costs rose faster than its sales.

Operating profit, what is left from sales after the costs of running the business, fell 12.4% to 301.6 million pounds. [9]

Pladis blamed dearer raw ingredients, swings in exchange rates and a weak economy, and called 2025 a demanding year for the food industry. [9]

Why it matters

Nine-tenths of Pladis' sales are its own brands, which sell at a higher price than supermarket own-label packs. [9]

Why it matters

It sells in more than 110 countries and is expanding McVitie's in China. [9]

UK watchdog bans a Huel advert

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Britain's Advertising Standards Authority, which polices adverts, banned an Instagram and YouTube advert for Huel, a maker of meal-replacement shakes. [10]

In it, the TV personality Spencer Matthews told of a man in an ultramarathon who only ate Huel and won by miles. [10]

The watchdog said viewers could take this to mean living only on Huel was healthy and fine for top athletes. [10][11]

It also noted a serving gives up to 400 calories, so one per meal falls short of the 2,000 to 2,500 a day recommended in the UK. [11]

Why it matters

Huel said the story was told as a surprise, not as advice, and that it has complied with the ruling. [10]

Why it matters

It is not the first time the watchdog has ruled against Huel for suggesting its products could replace ordinary food. [10]

Cow-methane vaccine maker raises money and cuts staff

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ArkeaBio, a Boston start-up making a vaccine to cut the methane cows burp out, raised $15m in a round led by AgriZeroNZ. [12]

It also let go about a third of its staff, to focus on its first market, New Zealand, and its first sales. [12]

The vaccine makes a cow's immune system work against the gut microbes that turn hydrogen into methane. [12]

Its first product aims to cut methane by 10-15% and would be given every three months. [12]

Why it matters

Methane is a powerful heat-trapping gas, and on farms it comes from manure and from cattle burping. [12]

Why it matters

A feed additive called Bovaer promises a 30% cut in milking cows, and ArkeaBio expects to apply to New Zealand's regulators next year. [12]

How it works

ArkeaBio's staff cuts

It let a third of its staff go to keep its money for one product and its first sales in New Zealand, and dropped the work that could wait.

The idea, in story 3: When money is tight, people cut what they can skip →

Who pays

About a third were let go so the money lasts until the first product. [12]

Nobody knows yet

Whether a 10-15% cut in methane is enough for farmers to pay for a vaccine.

ArkeaBio says the cost could be covered by carbon credits, a higher milk price or more output, but its first product makes no claim of more output. [12]

Farm marketplace teams up with Google on AI

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Farmers Business Network (FBN), a US online marketplace where farmers buy seed and supplies, borrow money and sell grain, announced a partnership with Google's AI Futures Fund this week. [13]

They will build what they call an AI context engine, one constantly updated picture of a farm's soil, crops, money, machines and markets. [13]

FBN gets early access to Google's newest AI models to test them on farm work. [13]

Early test users get the first features now, and a wider rollout is due this autumn. [13]

Why it matters

FBN's cofounder Charles Baron says today's AI gives farmers general advice that does not connect to buying or selling anything. [13]

Why it matters

He says Google will have no access to farms' data, which FBN keeps. [13]

Who gains

It gets early access to Google's newest AI models to test on farm work. [13]

Nobody knows yet

Who can see a farm's data once the new AI tools run on it.

FBN says Google gets no access and FBN keeps the data. That is the company's own account, and nothing in the report checks it. [13]

Money for new food firms stays near its low

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Investors put $3bn into new farm and food technology companies from April to June, against $12.1bn at the 2022 peak, according to DigitalFoodLab, which tracks the deals. [14]

Every quarter for about two years has landed between $2.5bn and $3.5bn. [14]

PitchBook, another tracker, counted 107 farm-technology deals and 142 food-technology deals in the quarter, both the fewest in eight years. [14]

The figures come from an article by two investors at Peakbridge, a venture firm. [14]

Why it matters

The same authors say buyers still pay well for nutrition firms that can prove their products work. [14]

Why it matters

Procter & Gamble paid $3.8bn for Thorne, a vitamin maker that runs clinical studies, close to eight times its yearly sales. [14]

How it works

Money for new food firms

Investors put $3bn into new farm and food companies from April to June, against $12.1bn at the 2022 peak, because a start-up years from its first sale can wait.

The idea, in story 3: When money is tight, people cut what they can skip →

What's really going on

Investors are also spending less on new food companies: money for them was $3bn in three months against $12.1bn at the 2022 peak, and Believer Meats' plant may go to the builder and the bank it owes. [14][8]

Who gains

Procter & Gamble paid close to eight times sales for Thorne, a vitamin maker that runs clinical studies, while investment in other new food firms stays low. [14]

Swiss studio raises $4.5m to start food firms

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FOOD FOUNDERS Studio, a Swiss firm that builds food-technology start-ups around problems big food makers already have, raised 4 million euros ($4.5m). [15]

The money came from the private investment offices of wealthy families and from individual investors, and will build its next two companies. [15]

Its first, SentiaNova, removes the off flavours in proteins made from pulses, the crop family that includes peas and lentils. [15]

It is staying away from costly areas with long approval times, such as lab-grown meat and fermentation. [15]

Why it matters

Cofounder Giacomo Cattaneo says big food companies have cut their own research budgets, so new ideas have to come from outside. [15]

Why it matters

He says the studio wants to be fast and to work on what the industry needs now. [15]

Gene editors take on strawberries that fail in heat

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Plantik Biosciences, a start-up based in France, and Hudson River Biotechnology, a gene-editing company, are working together on strawberries that keep fruiting in high heat. [16]

Heat stops strawberry flowers turning into fruit and harms the fruit's quality. [16]

Plantik found the DNA switches for heat tolerance in tomatoes, and Hudson River will make matching edits in strawberries without adding DNA from other species. [16]

Trials to check the trait are under way. [16]

Why it matters

The aim is a heat-tolerance trait any strawberry breeder can license, since most cannot afford gene editing themselves. [16]

Why it matters

Hudson River says new EU rules that make gene-edited crops easier to approve brought a surge of interest, and AgFunder, whose news site reported this, has invested in Plantik. [16]

England's drought shrinks the pumpkin crop

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Pumpkin growers in southern England say this summer's drought left their pumpkins smaller and ripening early. [17]

Summer 2026 was the UK's hottest on record, with 40 days above 30C against the old record of 34. [17]

Eleanor Gilbert, whose family farms on the Hampshire-Berkshire border, said her pumpkins were 50-60% down. [17]

A grower near the Oxford Canal who sells to restaurants said his crop came in at half what he expected. [17]

Why it matters

Pumpkins are about 90% water, so a dry summer stops them growing. [17]

Why it matters

Martin Emmett, who chairs a growers' board for vegetables and potatoes, says there will still be plenty of British pumpkins in the shops for carving. [17]

Who pays

Some report crops down by half or more after the UK's hottest summer on record. [17]

Good news

Despite the hottest summer on record, there will still be plenty of British pumpkins in the shops for Halloween carving, the growers' board for vegetables and potatoes says.

Food makers buy from more places after the heat

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Big ingredient makers told FoodNavigator, a food trade news site, how this summer's European heatwave is changing where they buy. [6]

Tate & Lyle, an ingredients firm, said it spread its maize buying across more regions after France's 2022 drought, so it was better prepared for this year's poor French harvest. [6]

In Britain, shops and restaurants had to buy iceberg lettuce and broccoli from Spain and the Netherlands in the middle of the home growing season. [6]

Kerry, another ingredients firm, said climate events now hit cocoa, sugar, coconuts and grains. [6]

Why it matters

The firms admit a second supplier helps little if the same heatwave hits both. [6]

Why it matters

Farmers in the worst-hit places risk losing their buyers, and Ronald Guendel, who leads an international farm-business association, says food firms should help them adapt instead. [6]

Most shoppers want to eat better; few think they do

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Ahold Delhaize, which owns supermarket chains in Europe and the US serving 77 million customers a week, surveyed 8,000 shoppers in seven countries. [18]

It found 92% want to eat more healthily, but only 14% think their diet is very healthy. [18] Only 13% feel very confident telling healthy food from unhealthy food. [18]

Nearly every shopper Ahold Delhaize asked wants a healthier diet, and about one in seven thinks they have one already.

Shoppers said cheaper healthy food would do most to change what they buy. [18]

Why it matters

The UK government plans to make large food companies report how much healthy food they sell, and to set targets for it. [18]

Why it matters

Eighteen companies disclosed such figures or set targets in 2026, up from seven in 2024, the report says. [18]

Nobody knows yet

Whether reporting healthy sales changes what people eat.

Eighteen companies now publish such figures, but the Ahold Delhaize survey measures what shoppers say, not what they buy. [18]

Online grocer sells the food shops turn down

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Misfits Market, a US online grocer founded in 2018 to sell misshapen fruit and vegetables, now earns much of its money from packaged food. [19]

It buys goods ordinary shops will not take, such as products with only months left before they expire, or in old packaging, and sells them at a steep discount. [19]

Its founder, Abhi Ramesh, said packaged goods make up 50-60% of most orders. [19] Its service storing and delivering other brands' chilled food has grown 50-fold since 2024. [19]

Why it matters

Ramesh says the grocery and the delivery service each bring in nine-figure revenue, meaning at least $100m. [19] Both run on about 750,000 square feet of chilled and frozen warehouses. [19]

Who gains

It buys food that ordinary shops will not take and sells it at a steep discount, and each of its two businesses brings in nine-figure revenue. [19]

Hershey bets on new Reese's bars

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Hershey, the US chocolate maker, launched two new Reese's products: a Caramel Block and a White Peanut Butter Cup Trio. [20] Reese's peanut-butter cups are among its best-known sweets. [20]

The launch follows the first new Reese's Pieces sweet in a decade, which came out in July. [20]

The food trade press says sweet makers are stretching familiar brands instead of starting new ones, because shoppers are choosier about treats. [20]

Why it matters

Lindt is answering cautious shoppers with lower prices. [4] Hershey is answering them with new bars under a name they already trust. [20]

How it works

Hershey's new Reese's bars

Shoppers are choosier about treats, so Hershey puts new bars under a name they already buy instead of asking them to try a new one.

The idea, in story 3: When money is tight, people cut what they can skip →

Nestle takes Starbucks fruit drinks home

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Nestle, the world's biggest food company, launched Starbucks Refreshers Concentrates, fruit-flavoured caffeine drinks that people mix at home with water, milk or lemonade. [14][21]

Nestle sells Starbucks products in nearly 80 countries under a deal made in 2018. [21] In Starbucks cafes, Refreshers have grown into a $2bn brand, second only to espresso drinks. [21]

Flavours include strawberry acai and mango dragonfruit. [21]

Why it matters

Younger shoppers increasingly want caffeine drinks that do not taste of coffee, the trade press reports. [21]

Why it matters

It is a crowded market, with Coca-Cola, PepsiCo, Red Bull and Monster all selling cold caffeine drinks. [21]

Nestle says its dairy emissions fell a quarter

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At a Climate Week panel in New York, Nestle said greenhouse gas emissions from its dairy supply chain are down 26% since 2018, and methane down 25%. [22]

Farmers on the panel said they lack the money to change how they farm. [22]

Austin Allred, who runs a 7,000-cow dairy in Washington state, said farm investments must pay back within days or weeks. [22]

California Dairies, a co-operative of nearly 300 farms, supplies Nestle with milk. [22]

Why it matters

Big food firms want lower emissions from the milk they buy, and the cost of changing falls first on the farms. [22]

Why it matters

Louis Dreyfus, a global crop processing company, has worked with Nestle since 2024 to help Argentine farmers grow soy and maize for cow feed with methods that cut emissions. [22]

Nobody knows yet

How Nestle measured the fall in its dairy emissions.

The 26% and 25% figures were given on a conference panel, and the report does not say who checked them. [22]

Good news

Nestle says greenhouse gases from the farms that supply its milk are down 26% since 2018, and methane is down 25%.

That's the whole Food day.

17 stories, 22 sources.