Despite the recession concerns arising due to the persistently high inflation and the consecutive rate hikes, food demand remains stable due to inelasticity. Food stocks tend to be great defensive options. The Conference Board’s most recent recession probability estimates remained near 99%, pointing to the likelihood of a recession in the U.S. within the next 12 months.
Therefore, I think fundamentally strong Sysco Corporation (SYY), Grupo Bimbo, S.A.B. de C.V. (GRBMF), and Glanbia plc (GLAPY) are worth buying now.
