A report by UK-based Lynx Purchasing puts fish, meat, fresh vegetables, oil and wine at the centre of price increases
Meat, carrots and salad, but also fish, oil, wine. These are the foods that could rise in price the most due to the situation in the Red Sea which has triggered a crisis in the global logistics chain. This is underlined by the market forecasts for spring 2024 by Lynx Purchasing, a British company specializing in the purchase of products for hotels, restaurants, pubs and nursing homes, founded in 2002 and made up of a team of experts and buyers from the catering sector and of hospitality. From the Lynx observatory, in reality, a picture of the situation emerges that is not at all comforting, even if some indications on the logistics crisis may be "useful" in dealing with the daily situation.
According to the research firm, there are five products that are likely to be harder or more expensive to source from here on out. That's because a variety of events, from the ongoing crisis in Ukraine to transportation routes, blockades and protests by European farmers, to unfavorable weather conditions, have caused (and are still causing) problems in the food supply chain. Although inflation is easing, experts explain, the supply chain remains sensitive to shocks, with several food products likely to continue to be in short supply and to have higher prices than in the years preceding the era of the "permacrisis", the permanent crisis . According to Lynx Purchasing's market forecast, five products are likely to be more difficult or more expensive to source, enough to recommend a series of . Let's see them:
1. Fish. Due to changes in the sustainability ratings of many species, the report advises hospitality operators to work closely with their suppliers to plan spring menus. The report notes that farmed fish may be the most cost-effective and sustainable option for some species, while frozen and processed fish may be affected by higher shipping costs due to conflict in the Middle East.
2. Fresh vegetables and salads. "Wet conditions followed by cold temperatures, especially in the UK, have affected a number of crops, both in terms of yield and harvesting costs - underlines the report -. This will affect fresh vegetables for some months, with carrots , onions and new potatoes which will be most affected." Meanwhile, the high temperatures recorded in Europe last summer and autumn hit salad crops hard, meaning prices could remain high until salad crops are no longer available in the spring.
3. Meat. The Lynx Purchasing report highlights that "the demand for beef has kept livestock prices high: during the winter - explains the report - there was an increase in demand for fine cuts, such as steaks and rusks, and a strong demand for lamb shanks". As spring approaches, and particularly in view of Easter, it is likely that lamb meat, above all, and that which can be roasted "will be further in demand".
4. Oil. The ongoing conflict between Russia and Ukraine is expected to keep sunflower oil prices high: meanwhile, "the olive crop was affected by last year's hot weather, increasing pressure on this product," explains the report.
5. Wine. The hot weather conditions last summer caused problems with the harvest. This resulted in an increase in wine costs. “Although New World wines have better availability, they are likely to be affected by expensive shipping costs,” the report concludes.
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Rome, RM, Italy, 02/20/2024 7:26 pm
EFA News - European Food Agency
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