FinancialNewsMedia.com News Commentary

PALM BEACH, Fla. , Dec. 12, 2022 /PRNewswire/ -- The agricultural supply chain was hindered by the COVID-19 outbreak, but the global market is positioned to significantly grow over the next several years. In fact a recent report from Allied Market Research projected that the global agriculture supply chain management market, which  was valued at $0.78 billion in 2021, is projected to reach $2.1 billion by 2031, growing at a CAGR of 9.9% from 2022 to 2031. The report said: "… the players in the market are taking the required steps to overcome the loss incurred because of the pandemic. Moreover, it is anticipated that during post-pandemic the companies will focus more on solutions that will support advanced planning and mitigate the impact of similar events in the future. The companies will focus more on end-to- end stock visibility, complex supplier monitoring, and process automation; thus, boosting the demand for SCM software in the agriculture supply chain management industry in upcoming years.  Supply chain management manages the flow of goods and services and includes all processes that transform raw materials into final products. Similarly, agriculture supply chain management involves managing interaction between companies responsible for effective production and supply of products from farms to consumers to reliably satisfy consumers in terms of quantity, quality, and price requirements. This generally includes managing horizontal and vertical alliances and business-to-business relationships and processes. Thus, agricultural supply chains enforce internal mechanisms and develop chain-wide incentives to ensure the timely performance of production and delivery commitments. Although the differentiation of goods, increased efficiency, more cost-effective transport, and timely distribution have led to the growth of supply chains from the farm gate to the retail level."  Active companies in the markets this week include Muscle Maker, Inc. (NASDAQ: GRIL), ADM (NYSE: ADM), The Hain Celestial Group, Inc. (NASDAQ: HAIN), United Natural Foods, Inc. (NYSE: UNFI), Star Bulk Carriers Corp. (NASDAQ: SBLK).