True Price of Food
Executive Council meeting – EC Members Only
1 July 2021 | 17:00 - 21:30
How to value the true price of food?
To value the tangible benefits of food, such as taste, texture or shelflife, is a common marketing exercise. However, to value the intangible benefits of environment, animal welfare or biodiversity is something very different. If Mother Nature invoices the food industry over the extinction of large animal species, what then will be the true price of our food products? How to value the true price of foods if the food industry sells a better world instead of simply foods?
The food ingredients industry is the second link of the food supply chain to add value to agro raw materials. The farmers produce raw materials, such as vegetable crops and animal products, to be further processed by the food ingredients industry into semi-finished products for application in all kinds of foods. The food ingredients industry acts on a global scale and consequently influences directly the conditions of local production and supply. This comes with a responsibility that reaches further than the right quality and price of the raw material. As the True Price of environmental and societal conditions are often not included in the ‘right’ price of a raw material.
Driven by the need for transparency consumers become aware of the environmental and societal impact of the global food supply chains and expect the food (ingredients) industry to include this in the overall proposition of food. However, if and to what extend are consumers prepared to pay for the additional environmental and societal costs of food. In other words to what extend are consumers prepared to pay the True Price of food produced in a better world?
Program to be developed.
Michel Scholte, director at True Price
Director & co-founder True Price and Impact Institute. Committed to an economy where all products have a trueprice and all organizations have an impact statement.
The Executive Council meeting is for Members Only and senior management of the member companies will be introduced to the concept of True Price and will discuss the impact on their businesses within the closed intimacy of IFFI network.
For Members Only, participation is covered by the membership fee. *
- please register by filling in your login details
* IFFI members are employed by the IFFI member companies
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