Clear Seas Research: Food and Beverage Industry Hit by 'Credit Crisis'

Food & Beverage Close-Up, Oct 16, 2008

FOOD AND BEVERAGE CLOSE-UP-16 October 2008-Clear Seas Research: Food and Beverage Industry Hit by 'Credit Crisis'(C)2008 - CloseUpMedia - newsdesk@closeupmedia.com

In a survey conducted by Clear Seas Research on October 13th, food industry insiders expressed concern over the impact of the current credit crisis -- both on their companies and on the food/beverage industry as a whole.

While some believe the credit crisis will have "very little" or "no impact," most (74 percent) anticipate "moderate" to "great impact" on their company's business/operations.

On a macro-level, most (82 percent) believe that the current economy will have a "direct impact on the overall food and beverage industry." At the individual company level, insiders express concern with liquidity (daily working capital) and their company's ability to make purchases; a majority (73 percent) anticipate increased/further industry consolidation in response to current economic times.

Insiders expect the "foodservice" segment to be most negatively impacted by current economic conditions, while "meat/poultry/seafood" and "retail" are also expected to struggle.((Comments on this story may be sent to newsdesk@closeupmedia.com))

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