A Message from Our CEO

To our customers,

The fall season is off to a promising and prosperous start, with optimism surrounding the crop landscape and exciting portfolio additions. In line with our commitment to industry-leading innovation, we are thrilled to announce our third launch of 2024—a strategic expansion of our Latin American assortment. Guided by trending flavors and key market insights, these seven new offerings are valuable assets to any menu, kitchen, operation, or pantry.

From an agricultural perspective, the crop landscape remains stable, and we look forward to fall crop yields. The anchovy category continues to recover after a disruptive season with El Niño. Fishing conditions in Peru are improving, and we are hopeful to see a return to complete normalcy in this region.

Looking into global logistics, import levels remain robust with import volumes up 15% compared to 2019. While freight rates, particularly from Asia, continue to rise, consumer spending has shown resilience. We expect these trends to hold as we enter the busy holiday season.

As of October 1st, the ILA port workers' strike has officially commenced, with negotiations ongoing as both parties work toward a resolution. The duration of the strike remains uncertain, but even a brief strike could significantly impact global trade and international shipping. In preparation, we successfully accelerated key inventory to mitigate any stockouts. Thanks to these proactive measures, we are confident in our strong position to navigate a short-term strike without issue.

We remain committed to staying ahead of any challenges and will continue to monitor every aspect of the industry closely.

To stay abreast of the most up-to-date and in-depth details regarding the supply chain, freight, and crop updates, please read our Regional Market Updates provided below.

Keith Dougherty

CEO of Roland Foods