How Hormuz is affecting Bega | That’s Business with Alan Kohler
A closed shipping route can sound like a distant problem – until it starts showing up in the cost of Vegemite, peanut butter, milk, cheese, yoghurt, packaging, freight, fertiliser, and food on Australian shelves.
Pete Findlay runs Bega, the company behind some of Australia’s best-known products. He says the closure of the Strait of Hormuz is already driving costs higher right through the supply chain.
00:00 – Introduction
01:09 – How’s the closure of the Strait of Hormuz affecting Bega?
04:05 – Who’s absorbing the increased costs?
07:47 – Pete Findlay predicts inflation over 5%
09:31 – Changes in food consumption habits
09:55 – The protein trend and it’s part in growing diet awareness
13:30 – Trend away from manufactured and processed foods
14:25 – Bega’s five-year transformation project
19:36 – Impact of GLP-1 drugs and protein-focus on food and agriculture industries
24:55 – How migration affects Bega on consumer and emplyoment
27:35 – How agriculture and food production will have to adapt to Net Zero
So, from his vantage point, what does the ongoing global energy crisis mean for food prices, for inflation (after another RBA warning) and for how long businesses can keep holding the line before consumers feel the full impact?
It’s also a conversation about what Australians eat, how the food industry is changing, and why protein, wellness, GLP-1 drugs, and productivity are becoming central to the future of Australian agriculture and manufacturing.
Bega chief executive Pete Findlay joins Alan Kohler to unpack it all on That’s Business with Alan Kohler.
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