US cooking oil market shrinking due to Ice pressures on Latino households, Mazola owner says
Summary
The US cooking oil market is shrinking mainly because Latino households face economic difficulties and tough immigration enforcement. Associated British Foods, which owns Mazola, says these factors and new health trends have reduced cooking oil sales and that this situation may continue for years.Key Facts
- US cooking oil sales are falling due to financial and immigration pressures on Latino consumers.
- President Trump's immigration enforcement has led some Latino customers to shop online and reuse cooking oil more often.
- ABF’s US joint venture reported lower demand for cooking oil partly because of the rise in appetite-suppressing drugs.
- ABF’s overall grocery sales rose 1% recently, with growth in other brands balancing the drop in oil sales.
- ABF plans to separate its Primark clothing brand into a different company.
- UK supermarket Asda cut nearly 6,000 jobs last year after selling a restaurant business and completing IT system upgrades.
- Asda’s job cuts mostly came from not replacing employees who left and ending some contracts, not forced layoffs.
- Asda reported a significant financial loss after a price war and large spending on upgrading its technology.
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