Consumers tucking into sun-dried tomatoes at a picnic during the summer’s heatwave probably gave little thought as to how that food went from farm to fork.
But those in the food industry know only too well that processors, manufacturers and wholesalers supplying supermarkets and restaurants are facing heightened pressures from volatile food prices.
The CGA/Prestige Purchasing Food Service Index, which uses price data between suppliers, caterers and wholesalers across several food categories, displayed a decrease of 1.7% from June 2018, although year on year inflation still stands at 3.2%.
In August it reported that between February and June this year fish prices had risen by almost 40% before dropping 7.6% month on month. Uncertainty over future fishing quotas after the UK leaves the EU, a tuna ban and other recommended quota reductions will add further pressure on this category in the future.
Similar double-digit price hikes have been seen in other categories such as lamb, butter and bananas. Trade wars, adverse growing conditions and new or higher tariffs are believed to have contributed to a record 38% year-on-year inflation in oil and fats in July. Click here to read the full article for free >>>
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But those in the food industry know only too well that processors, manufacturers and wholesalers supplying supermarkets and restaurants are facing heightened pressures from volatile food prices.
The CGA/Prestige Purchasing Food Service Index, which uses price data between suppliers, caterers and wholesalers across several food categories, displayed a decrease of 1.7% from June 2018, although year on year inflation still stands at 3.2%.
In August it reported that between February and June this year fish prices had risen by almost 40% before dropping 7.6% month on month. Uncertainty over future fishing quotas after the UK leaves the EU, a tuna ban and other recommended quota reductions will add further pressure on this category in the future.
Similar double-digit price hikes have been seen in other categories such as lamb, butter and bananas. Trade wars, adverse growing conditions and new or higher tariffs are believed to have contributed to a record 38% year-on-year inflation in oil and fats in July. Click here to read the full article for free >>>
Read more articles like this: