A Message from Our CEO

To our customers,

The first half of 2023 is now behind us, and the last six months have indicated general positivity within our industry compared to prior years. Improvements in global logistics, the decline of inflation, and a generally optimistic shift in crop supply have all greatly improved the business outlook within food and beverage.

We have observed a steady increase in containerized import volumes, similar pre-pandemic levels. United States manufacturers are also investing heavily in the construction of new factories. Despite interest rate increases, these factors point cautiously in the direction of a recovering economy, and we expect to see these trends continue through the latter half of the year.

The crop landscape remains uncertain, especially in the Western Mediterranean. Recent heavy rains in Spain and Italy may provide minimal benefit to a geography that has experienced severe draughts and associated poor crop yields the past 2 years.

In that region, an unfavorable harvest from 2022 continues to impact the current supply of ripe olives. As a direct result, olive oil and table olive oil shipments have been delayed, and pricing will likely increase.

At Roland Foods we are always on the lookout for potential disruptions so we can proactively manage the situation. We are confident our planning and execution will allow us to mitigate obstacles.

To stay abreast of the most up-to-date and in-depth details regarding the supply chain, freight, and crop updates, please read our Market Updates provided below. We look forward to helping you make the rest of 2023 a success. As always, thank you for your business.

Sincerely,

Keith Dougherty

CEO of Roland Foods