
Bad news for ‘cool people': For the cool, that is bad news
In a world reeling from the chaos of unpredictable trade wars, the matcha story is an example of how even a niche product might be hit by the calculus of demand and supply. Brought to Japan by the Chinese at the end of the 12th century, much of matcha's popularity owes itself to an accidental technique that the Japanese embraced to allow it to grow during the country's harsh winters. They covered it with straw and reed, protecting it from frost and sun, and allowing its colour to steep. As demand escalates and retailers set limits on how much customers can buy, the Japanese government is now encouraging what was once a carefully curated process to be converted into a larger-scale production of tencha. But that risks sacrificing the quality of matcha.
In the rise and fall of matcha, there is also a larger story that runs alongside the tension driven by contradictory forces in a world in transition — one that features the famous villain called climate change, already wreaking havoc on products as diverse as coffee and gin and tonic. Globalisation enabled matcha's exposure to the world; the move towards protectionism now threatens it. Whether the story will end with a promising sip of matcha is anyone's guess.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
44 minutes ago
- Economic Times
US applications for jobless benefits inch up for the first time in 7 weeks, but layoffs remain low
AP The total number of Americans collecting unemployment benefits for the previous week of July 19 was unchanged at 1.95 million. WASHINGTON: The number of Americans filing for jobless benefits inched up modestly last week as business continue to retain staff despite economic uncertainty around U.S. trade policy. The Labor Department reported Thursday that jobless claims for the week ending July 26 ticked up by 1,000 to 218,000, less than the 225,000 new applications analysts forecast. It was the first time in seven weeks that benefit applications rose, although layoffs remain at historically low levels. Weekly applications for jobless benefits are seen as representative of U.S. layoffs and have mostly settled in a historically healthy range between 200,000 and 250,000 since COVID-19 throttled the economy in the spring of 2020, wiping out millions of jobs. Earlier in July, the Labor Department reported that U.S. employers added a surprisingly strong 147,000 jobs in June, adding to evidence that the American labor market continues to show resilience despite uncertainty over President Donald Trump's economic policies. The job gains were much more than expected and the unemployment rate ticked down 4.1% from 4.2% in May. The government issues its July jobs report on Friday. Though the top line numbers reflect a broadly healthy labor market by historical standards, some weakness has surfaced as employers contend with fallout from Trump's policies, especially his aggressive tariffs, which raise prices for businesses and consumers. If consumers continue to pull back on spending, a decline in demand could push businesses to freeze hiring or cut staff. This week, government data showed that employers posted 7.4 million job vacancies in June, down from 7.7 million in May. The number of people quitting their jobs - a sign of confidence in their prospects elsewhere - fell in June to the lowest level since December. Hiring also fell from May. The deadline on most of Trump's stiff proposed taxes on imports were extended again until Friday, though some deals have been made and other deadlines to negotiate have been extended. Unless Trump reaches deals with countries to lower the tariffs, economists fear they could act as a drag on the economy and spark another rise in inflation. Companies that have announced job cuts this year include Procter & Gamble, Dow, CNN, Starbucks, Southwest Airlines, Microsoft, Google and Facebook parent company Meta. Most recently, Intel and The Walt Disney Co. announced staff reductions. The Labor Department's report Thursday also said that the four-week average of claims, which evens out some of the week-to-week fluctuations, fell by 3,500 to 221,000. The total number of Americans collecting unemployment benefits for the previous week of July 19 was unchanged at 1.95 million.
&w=3840&q=100)

Business Standard
an hour ago
- Business Standard
Maruti says engineers working to mitigate rare earth magnet shortage issue
The recent imposition of export restrictions by China on key rare earth magnets has resulted in supply chain bottlenecks, impacting the user industries, including the auto and electronics sectors Press Trust of India New Delhi Maruti Suzuki India on Thursday said its engineers are working to mitigate the rare earth magnet shortage issue, noting that there has been no impact on its production so far. In an analyst call post the company's June quarter financial results, Maruti Suzuki India Senior Executive Officer Corporate Affairs Rahul Bharti termed the shortage a challenging situation. "So, it is a challenge, and of course, our engineers are working to mitigate it and ensure that we do not have the impact of this. "So, it's work in progress, but as of now, we are managing the situation. If and when there is an impact, we'll come back to you to answer your question," Bharti replied to a query on the matter. The recent imposition of export restrictions by China on key rare earth magnets has resulted in supply chain bottlenecks, impacting the user industries, including the auto and electronics sectors. China currently dominates the global rare earth magnet supply chain, controlling over 90 per cent of global processing capacity. These magnets are essential components across sectors like automobiles, household appliances, and renewable energy. The Chinese government has mandated, from April 4 onwards, that special export licences be required for seven rare earth elements and associated magnets. On demand scenario in the domestic market, Bharti said: "At the beginning of the year, the industry body had given a kind of a guess of 1-2 per cent growth this fiscal. Q1 has not been up to the mark. Q2 has some positives". He noted that the company is expecting the situation to improve in the festive season. "There are other positives also, like the monsoon and rural (sales) are holding up. So, we are looking at the second quarter and the festive season with optimism," Bharti stated. Replying to a query on the upcoming Corporate Average Fuel Efficiency (CAFE)-3 norms, he said the discussions have been proceeding well between industry and government with both sides understanding each other's position quite well. "It is a complex topic, but there have been sufficient discussions and all the complexibilities are on the table, and it is expected that between one to two months, all of us are hoping that the final revelation will be out, so that we have clarity for for the powertrains starting from first April 2027," Bharti stated. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Time of India
an hour ago
- Time of India
US applications for jobless benefits inch up for the first time in 7 weeks, but layoffs remain low
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel WASHINGTON: The number of Americans filing for jobless benefits inched up modestly last week as business continue to retain staff despite economic uncertainty around U.S. trade Labor Department reported Thursday that jobless claims for the week ending July 26 ticked up by 1,000 to 218,000, less than the 225,000 new applications analysts was the first time in seven weeks that benefit applications rose, although layoffs remain at historically low applications for jobless benefits are seen as representative of U.S. layoffs and have mostly settled in a historically healthy range between 200,000 and 250,000 since COVID-19 throttled the economy in the spring of 2020, wiping out millions of in July, the Labor Department reported that U.S. employers added a surprisingly strong 147,000 jobs in June, adding to evidence that the American labor market continues to show resilience despite uncertainty over President Donald Trump's economic policies. The job gains were much more than expected and the unemployment rate ticked down 4.1% from 4.2% in government issues its July jobs report on the top line numbers reflect a broadly healthy labor market by historical standards, some weakness has surfaced as employers contend with fallout from Trump's policies, especially his aggressive tariffs, which raise prices for businesses and consumers. If consumers continue to pull back on spending, a decline in demand could push businesses to freeze hiring or cut week, government data showed that employers posted 7.4 million job vacancies in June, down from 7.7 million in May. The number of people quitting their jobs - a sign of confidence in their prospects elsewhere - fell in June to the lowest level since December. Hiring also fell from deadline on most of Trump's stiff proposed taxes on imports were extended again until Friday, though some deals have been made and other deadlines to negotiate have been extended. Unless Trump reaches deals with countries to lower the tariffs, economists fear they could act as a drag on the economy and spark another rise in that have announced job cuts this year include Procter & Gamble, Dow, CNN, Starbucks, Southwest Airlines, Microsoft, Google and Facebook parent company Meta. Most recently, Intel and The Walt Disney Co. announced staff Labor Department's report Thursday also said that the four-week average of claims, which evens out some of the week-to-week fluctuations, fell by 3,500 to 221, total number of Americans collecting unemployment benefits for the previous week of July 19 was unchanged at 1.95 million.