On April 16, Globally Local Technologies Inc.—parent company of vegan chain Globally Local —will begin trading on the Toronto Stock Exchange’s (TSE) Venture Exchange under the symbol GBLY, making it the first publicly traded vegan fast-food chain in the world. The company opened its first Globally Local restaurant in 2016 and in 2017, opened its second location as the world’s first 24-hour vegan drive-thru taking over a shuttered location of popular Canadian fast-food chain Harvey’s. Globally Local Technologies also produces its own plant-based meats and dairy alternatives for distribution in the foodservice sector. This control of its supply chain allows
Global food prices are going up, and the timing couldn’t be worse.
In Indonesia, tofu is 30% more expensive than it was in December. In Brazil, the price of local mainstay turtle beans is up 54% compared to last January. In Russia, consumers are paying 61% more for sugar than a year ago.
Emerging markets are feeling the pain of a blistering surge in raw material costs, as commodities from oil to copper and grains are driven higher by expectations for a “roaring 20s” post-pandemic economic recovery as well as ultra-loose monetary policies.
Consumers in the U.S., Canada and Europe
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