- A new study reveals that an estimated 2.5 billion tons of food goes uneaten around the world each year
- Producing food uses a huge amount of land, water and energy, so wasted food significantly impacts climate change”
- Save Foods is committed to address two major global issues: food waste and loss, and food safety
An estimated 2.5 billion tons of food goes uneaten worldwide each year, according to the latest study done by World Wildlife Fund (“WWF”) and U.K. retailer Tesco Plc. (https://ibn.fm/vfC5U). That is an astonishing 1.2 billion tons more than previously reported, making the work done by Save Foods (NASDAQ: SVFD), an agri-food tech company focused on creating solutions to food waste and loss as well as food safety, even more urgent.
“Today, WWF and Tesco publish ‘Driven to Waste,’ a new report that quantifies the total amount of food lost on farms globally, revealing an estimated 2.5 billion tonnes of food goes uneaten around the world each year,” WWF reported. “That is an increase of approximately 1.2 billion tonnes on the established estimates of 1.3 billion tonnes wasted each year. These new estimates indicate that of all the food grown, approximately 40 percent goes uneaten, which is higher than the previously estimated figure of 33%.”
WWF noted that the information in its report, when combined with updated data on loss in supply chains and waste at retail and consumption, provides “a clearer picture of the scale of food loss and waste from farm to fork.” The organization also noted that “producing food uses a huge amount of land, water and energy, so wasted food significantly impacts climate change — previous estimates suggest that food waste accounts for 8% of greenhouse gases (“GHG”). Driven to Waste’s new data indicate that the numbers are even more substantial, pointing to a contribution of approximately 10% of all GHG emissions. This is the equivalent of nearly twice the annual emissions produced by all the cars driven in the U.S. and Europe.
Save Foods is committed to address two major global issues: food waste and loss, and food safety. In addition to the astronomical numbers of food wasted, Save Foods points out that almost 1 in 10 people fall ill every year from eating contaminated food, costing us around $90 billion.” On top of that, the world’s population is forecast to grow to almost 10 billion people by 2050, boosting agricultural demand by some 50%,” the company notes. “Providing healthy and safe food to feed the world’s population is one of the biggest challenges of the 21st century.”
At face value, the implications of food waste are immense, with one recent report noting that “the amount of food waste in America alone is simply mind numbing, weighing in at 133 billion pounds and $161 billion worth of food in 2010. That means 31% of all food produced annually is wasted. As a subcategory, 644 million tons of fruit and vegetables, or 42% of total supply, is wasted annually” (https://ibn.fm/KieJo).
Save Foods offers the first green product with potential to actually replace the different residuals chemicals used today while also addressing the challenges of both food waste and food safety. The company’s core applications are ecofriendly, post-harvest treatments for fruits and vegetables. SVFD’s proprietary technologies reduce the need for conventional post-harvest fungicide by at least 50% — even entirely in some cases — can reduce food loss due to spoilage by up to 50% on average.
The company is dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with its customers, Save Foods develops new solutions that benefit the entire supply chain and improve the safety and quality of life of both workers and the consumers alike.
For more information, visit the company’s website at www.SaveFoods.co.
NOTE TO INVESTORS: The latest news and updates relating to SVFD are available in the company’s newsroom at https://ibn.fm/SVFD
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