The UK could be set for a 15% rise in food costs
A leading food industry boss has warned that prices will spike.
This is reported as a result of the war in Ukraine.
Ronald Kers, the boss of food firm 2 Sisters, told the BBC that the cost of food could rise by up to 15% this year.
He added that the price the company pays for chicken from the farm has grown.
Russia and Ukraine are some of the world’s biggest suppliers of wheat and exports are expected to be affected by the conflict.
In addition, the price of gas and rising bills would affect the usage of such in a production setting.
Prices that were already increasing during what has been described as a cost of living crisis, would certainly also be affected by the war, according to some experts.
2 Sisters employs more than 14,000 people in the UK.
Its chief executive told the BBC’s Today program that it had ‘already been forced to pay 50% more for chicken it receives from farms.’
Mr. Kers also suggested that the UK’s exit from the European Union had made matters more difficult.
The National Farmers Union (NFU) warned that food production could be hit.
“The government must act now, with a clear signal that food security is a priority for the nation,” the NFU said.
“I think the whole world has got to recognize that this is not something we’ve faced before, we are going to see what price inflation levels that have never happened,” she said.
The variables seem to have created a ‘Perfect storm’ for rising prices and production, including the difficulty that leaving the EU, has provided, let alone international relations.
Contact Gi National
Email us: email@example.com