Unsold Truffles Tell Tale of Broken $3.4 Trillion Food Chain Share the love y’all! Bloomberg) — Every year, John Gregson sells his autumn and winter truffles, carefully sourced from places like Italy’s Sibillini mountains and Teruel in eastern Spain, to restaurants for as much as 6,000 pounds ($7,400) a kilo. […] The unprecedented disruption in the food chain, with worst-case estimates showing 80% of restaurants going bust in some parts of the world, is leaving people like Gregson grappling with an industry that may take years to untangle itself.“Those orders came mostly from Michelin-star restaurants,” said Gregson, head of U.K. wholesale deals at TruffleHunter Ltd. “It’s now a question of whether those restaurants will be around come autumn and winter when those truffles come into season.”From truffles to cheeses and steaks to seafood, the providers of ingredients that go into everything from a pasta al tartufo to a London broil are confronting an existential crisis in the $3.4 trillion global food services industry. […] Similarly grim projections are also being made around the world.“What you sell into restaurants is different to what you sell into grocers — there are premium cuts, there are expensive lobsters and all of that,” said Nicholas Fereday, a consumer goods senior analyst at Rabobank in New York. […] That’s made him dig up and replant much of his crops with produce better suited to retail customers: out go the micro greens and edible flowers sought after by chefs such as Heston Blumenthal, and in come larger conventional vegetables such as beetroots and carrots.Despite the upheaval, O’Neill is hopeful that the lockdown will lead to a change in consumer food habits, favoring organic producers like him.“There is a creative opportunity for transformation for all of us,” he said.
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